Wealth structures today extend well beyond traditional financial portfolios. While listed securities and managed investments remain important, a growing share of private wealth is held in assets outside the conventional banking sphere. These include direct real estate holdings, operating companies, private equity interests, yachts, aircraft, art collections and other tangible or complex assets whose characteristics differ fundamentally from those of financial instruments.
For banks with trust services, portfolio managers and independent wealth advisers, this evolution creates a structural challenge. Clients increasingly expect global solutions that reflect the full breadth of their assets, yet many advisory models remain centred on financial holdings alone. In this context, trustees with experience in non-banking assets play a valuable complementary role. They help ensure that these assets are properly integrated into broader estate planning, succession arrangements and governance frameworks.
The administration of non-banking assets within trust or holding structures requires a specific and practical skill set. Such assets are often illiquid and operationally demanding. They are closely linked to personal, commercial or family considerations and rarely lend themselves to standardised processes. Their management typically involves third party operators, local regulations, contractual arrangements and ongoing oversight rather than routine valuation. A trustee working in this environment must therefore combine fiduciary discipline with a clear understanding of operational realities and long-term stewardship.
International connectivity is particularly important in this area. Real estate portfolios frequently span multiple jurisdictions. Yachts and aircraft require coordination with registries, flag states and specialised service providers. Art collections raise questions of provenance, storage, transport and insurance. Complex assets often require tailored insurance solutions and regular interaction with brokers, underwriters and technical advisers. A trustee with established international relationships and experience in coordinating these elements can add meaningful value by ensuring continuity, compliance and appropriate risk management across the structure.
Alongside asset complexity, governance issues are an increasingly common feature of sophisticated structures. Many trusts and holding arrangements evolve over time, sometimes across generations, with changes in advisers, trustees or family circumstances. As a result, governance frameworks may no longer reflect the current scale or composition of the assets involved. Questions may arise regarding historical decisions, authority or documentation, particularly during transitions from one trustee to another. In such situations, the trustee’s role extends beyond administration to interpretation and stabilisation. This work requires a measured and disciplined approach that respects the history of the structure while addressing present day requirements. Reviewing governance processes, coordinating advisers and restoring operational clarity are often essential steps. Experience shows that calm engagement and a solution-oriented mindset are frequently more effective than immediate escalation.
Disputes and contentious situations are also part of the reality of complex wealth arrangements. They may arise from legacy governance issues, disagreements among stakeholders or tensions linked to operational assets. Trustees accustomed to managing such environments provide reassurance to advisers and institutions alike. The objective in these cases is not confrontation but resolution, pursued with discretion, diplomacy and a clear understanding of fiduciary responsibilities.
From the perspective of banks and wealth managers, collaboration with a trustee experienced in non-banking assets, international coordination and governance complexity can materially enhance the overall service offering. It allows financial portfolios to sit within a broader structural framework that accommodates operational assets and long-term succession objectives, while preserving existing advisory relationships.
Modern trusteeship is increasingly defined by the ability to integrate diverse asset classes, address governance challenges with judgement and maintain stability through changing circumstances. Trustees who combine technical rigour with international connectivity and practical asset experience contribute meaningfully to resilient and well balanced wealth structures.
GTC brings this perspective to its work by combining experience in non-banking assets, international coordination and disciplined governance practice in support of comprehensive wealth structuring alongside banks, wealth managers and professional advisers.
