According to the Society of Trust and Estate Practitioners’ (STEP) latest global quarterly confidence survey there is a slight drop in confidence in the immediate outlook, but prospects for the longer term are very positive. The Society reports that its survey registered a three year high in the long-term outlook for the industry.
STEP explains that the survey, which is carried out every quarter, seeks the views of members on a wide range of jurisdictions and trust and estate businesses, and asks whether they expect business to improve in these areas.
Commenting on the findings, STEP Chief Executive David Harvey said: ‘The increase in confidence in the longer term is encouraging particularly given the changes in the international regulatory environment set to take effect over the next few years.
‘Alongside these indices, we are exploring new ways to engage with our members, in order to better understand their concerns and help them face both current and future challenges in what remains a fragile global economy.’