There seems to be a growing international trend on the part of governments to create a baseline in terms of disclosure of beneficial ownership. Recent provisions within the US defense appropriations act provide further evidence of this shift.

This development has significant implications for affluent clients and wealth management professionals. As public treasuries face mounting pressure, tax structuring and protection of wealth will become the primary motivators of those with means in coming years.

Investment migration patterns will likely shift from lifestyle considerations toward financial optimization strategies.