Urbane, with a calm confidential manner, Charles Lloyd is a much-liked figure in the profession. It’s a reputation born of hard work: ‘I’ve been quite busy for the last six months,’ he says, in a way which suggests he’s actually been very busy. ‘There are things I should do, like say “Hi” more often to my children.’

‘Incremental tinkering doesn’t really have the desired effect,’ says Elizabeth Henson, calling for a tax sphere that is ‘fit for the future’. ‘There needs to be a focus on re-examining the whole system.’

The head of the private client department at Taylor Wessing, Nick Warr notes a ‘global fear’ among his clients, resulting from geopolitical and economic events. As a result, many are bent more on wealth preservation than generation. ‘They can’t really see where the opportunity is now, without taking excessive risk,’ he says. ‘To make real money involves ratcheting up the risk scale.

‘Take advice regularly from professionals and not on the golf course or at the marina,’ says the straight-talking Camilla Wallace, head of the private client group at Wedlake Bell, where she specialises in both offshore and onshore trust structuring.

One of the few private client lawyers who can advise on Italian as well as UK issues –and bilingually as well – Puoti is known as the go-to lawyer for HNWs with southern European interests.