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Joshua Rubenstein Provides Insight on Brexit's Impact on Latin American Wealth Management

Firm News | September 22, 2016

National Trusts and Estates practice head Joshua Rubenstein was quoted by Citywealth concerning trends for Latin American wealth management in light of Brexit. Josh stated, "The influx of [high-net worth] HNW and [ultra-high-net worth] UHNW clients from Latin America continues unabated. There had been a siphoning of some of that influx to Europe, and particularly Spain and Portugal, but fear over the 'Brexit effect' and the ongoing European debt crisis has re-diverted much of the influx back to the US. . . . Many of my clients are restructuring in the US, in progressive trust law jurisdictions such as Delaware, New Hampshire, South Dakota and Wyoming although it's not exclusively." In terms of other trends, Josh noted that there is an increased interest in US real estate, as well, noting, "The high end of the real estate market is very strong and, at least seemingly, very stable, particularly in highly desirable areas like Manhattan and Beverly Hills where supply is limited." ("Latin American Money has Re-Diverted to the US Following Brexit," September 22, 2016)

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