The Tax Law and International Private Client & Family Law Commissions are delighted to invite you to the joint Wealth Lab seminar in Zurich.

According to Oxfam 2023 report the richest 1 percent of people on Earth made almost two-thirds of the new wealth created since the pandemic began. At the 2023 Davos Economic Forum, more than 200 of the world's wealthiest people called for additional taxes for the richest. Whether we want it or not, there is a growing number of those who claim that the global problem of gross financial inequality should finally be solved.

As a matter of fact, we are witnessing the largest wealth transfer in the history of mankind, in which the generation of baby boomers will transfer wealth worth more than  $68 trillion to the next generation. At the same time, the new generation of stake holders seems to have a more socially and sustainably engaged approach to managing their wealth and will expect the same from their advisers. Ultimately, the rising importance of ESG standards is already having a measurable impact on clients' investment decisions and the way they select their business partners and advisors.

How will all this affect the private wealth industry? How can we as advisers prepare for it? What new tax policies can we expect in the nearest future?  What can we as advisers do to be more progressive, how shall we engage in the current discussion to accommodate the needs of our clients, and how should we talk to clients about it? Is it ethically correct to save taxes and to maximise profits in order to ultimately become a more effective philanthropist? Can the philanthropy save the world?

We will try to answer these and other questions, [also taking into account a comparative perspective of various legal frameworks] at a one-day event in Zurich - the European hub for wealth management and private banking.

We call it the 'Lab' because we want to discuss the mentioned change in a very open and interactive format. During this event you will have a chance to exchange and expand on ideas with wealth managers, bankers, academics, philanthropists, lawyers and the industry disruptors.

In addition, for those who want to experience more of Switzerland's financial metropolis vibes can come earlier, the organising committee has set up an optional, exclusive programme also for Thursday evening.