STEP Malta Conference 2025: Navigating the future of private wealth

The STEP Malta Conference 2025, held at the end of April, brought together leading minds in private wealth management to discuss the evolving landscape of private client advisory. The event was attended by prominent firms such as Forsters, Baker Mackenzie, Withersworldwide, Stephenson Harwood, XXIV, Deloitte, and a number of local Maltese delegates. Michael Harman, Commercial Director of Ocorian’s Private Client team, attended the event and highlighted several key themes discussed throughout the conference. 

What were the key themes of the STEP Matla Conference 2025? 

The ‘Rising Generation’ 

Thank you to Jessica McGawley from Dallington Associates, who shared the term ‘Rising Generation’ with many in the room. The conference emphasised the importance of advocating for the rising generation, often referred to as ‘The Next Gen.’ Later on, in the conference a collaborative panel highlighted the need for effective communication to manage expectations and foster strong relationships with younger clients. This ‘Rising Generation’ is poised to inherit significant wealth, and private client advisors must be prepared to address their unique needs and perspectives sooner rather than later.

Addressing challenges in family offices 

Discussions around family offices highlighted the integration of external advisors and the importance of robust governance frameworks. New and existing family offices face operational complexities that demand clear communication and effective governance to ensure engagement and efficiency.

Wealth transition and transfer strategies

Ronnie Myer from Stephenson Harwood led an insightful presentation that shed light on the distinction between structural solutions and tailored approaches during wealth transitions. Using an analogy— “knowing a tomato is a fruit but not putting it in a fruit salad”—Myer highlighted the wisdom required in aligning solutions with family-specific goals. 

Embracing technology in private wealth  

The rise of technology, including AI, large language models (LLMs), and digital assets, was a recurring theme at the conference. These innovations are becoming central to the evolving needs of younger generations, family offices, and private wealth advisors. Ocorian remains committed both internally and externally to supporting clients in these areas, leveraging technology to improve efficiency and drive business growth.

Conflict management in private wealth

Effective planning and open dialogue are crucial in navigating client conflicts. Mara Monte, from Withersworldwide, provided valuable insights into conflict resolution, emphasising the importance of early intervention and transparent communication. Mara further highlighted strategies to pre-empt conflicts and ensure potential future risks are mitigated.

Thank you to Anthony Cremona, STEP Malta, Malcolm Becker, Betley Trust and the STEP team for an excellent event!

How can Ocorian’s Private Client team support you? 

Partner with Ocorian Private Client to ensure your wealth is expertly managed throughout its lifecycle. Our global team, spanning the Americas, Europe, UK & Channel Islands, Africa, the Middle East, and Asia, is ready to address your unique needs—whether for family offices, family businesses, or supporting entities.

With tailored solutions inspired by the themes highlighted at STEP Malta, we champion the rising generation, overcome challenges in family offices, steward wealth transitions, embrace technological advancements, and navigate conflicts with strategic expertise.

Get in touch with Ocorian Private Client today to explore how we can help you achieve your wealth management goals with precision, insight, and care.