In August we approached a number of clients to take part in a customer service survey to help us better understand what they expected of an ideal Trust & Company Services Provider (TCSP) and, crucially, to find out how we were performing against those expectations.
It showed that most customers rated Sovereign best against their expectations in areas that included competitive pricing, understanding customer needs, personal attention, highly skilled employees, and honesty and integrity. While these are all key areas for a TCSP, the survey also identified some key areas for improvement – timely response, accurate information, regular updates and ‘being proactive’.
This feedback has been incredibly valuable, and we have used it to develop a ‘roadmap for change’ that will serve to address any existing perceptions of underperformance and then to raise our product and service levels to exceed clients’ expectations across the board.
Sovereign is also committed to continue its investment in its IT infrastructure to ensure the security of clients, while introducing modern technology platforms and standardised, repeatable processes that will drive efficiency and consistency of service to our clients.
If anyone would like to view the report, please email us directly at info@SovereignGroup.com.
Sovereign Group Chief Operations Officer
EXPLAINER
UK passes Economic Crime & Corporate Transparency Act
The UK’s Economic Crime and Corporate Transparency Act (ECCTA), which amongst other things introduces identity verification for all new and existing registered company directors, people with significant control and those who file on behalf of companies, received Royal Assent on 26 October and was passed into law.
It follows the fast-tracked Economic Crime (Transparency and Enforcement) Act, which was passed into law in March 2022 to enable the government to move faster when imposing sanctions. This first Act also created a register of overseas entities (ROE) to target foreign criminals using UK property to launder money and reformed the UK’s unexplained wealth order (UWO) regime.
RCBI HIGHLIGHT
Establishing an Alternative Residency through Corporate Establishment
High inflation, rising interest rates and international conflict, together with the legacy of the Covid pandemic, are continuing to pile pressure on government treasuries. As a result, many governments have been focusing on Foreign Direct Investment (FDI) to drive economic growth and create local employment.
Their aim is to attract experienced businesspeople and entrepreneurs, together with their families, by providing compelling options to set up businesses in their country that will offer good access to markets, enhanced commercial opportunities, corporate and personal tax incentives, as well as local residency rights.
Cassio Markowski wins Sovereign Portuguese Art Prize
The Sovereign Art Foundation (SAF) announced on 28 November that Portuguese artist Cassio Markowski had been named as the winner of the 2023 Sovereign Portuguese Art Prize and recipient of €25,000. His winning artwork is titled Conselhos para meu eu quando jovem (‘Advice to my younger self’).
This is the second edition of the Prize, which celebrates the practices of leading contemporary artists living in Portugal and its diaspora. Born in Brazil, Markowski has a multimedia practice that uses archives, image banks and materials to create works investigate family relationships, their influences and contradictions, within the cultural construction of Brazil.
“I feel very happy and excited to receive this important and respected award that crowns work that I began in these lands eight years ago,” said Markowski.
SOVEREIGN STORIES
Nicholas Cully
We travel to Switzerland for today’s Sovereign Story featuring Nicholas David Cully, Group Sales Director since 2018. He is responsible for Sovereign’s sales and growth strategy and holds the Institute of Directors Certificate in Company Direction. Nicholas sits on multiple Sovereign boards around the world and travels extensively when not able to use video communication technology.
