After a ‘meandering’ career which has taken him from teaching in China to hedge funds via the civil service and a Westminster think tank, John Butters joined Weatherbys in 2016. He has since set up an in-house investment service specialising in passive portfolios and ‘smart beta’. He is passionate about a rational, academic approach to portfolio construction.

James Morrell, a director and client adviser at the family firm, is clear about the challenges the industry faces. ‘In the short-term Brexit is an obvious source of near-term uncertainty and complexity for our clients.’ And in the long term? ‘Adapting to each generation’s requirements.’

The past five years have been a ‘golden time’ for entrepreneurs, Perry Littleboy says. ‘Today there’s an awful lot of capital around, and a lot of encouragement from government, a lot of favourable tax incentives for entrepreneurs.’

‘Clients want insight,’ says Nick Green, who joined Coutts from JP Morgan in 2004, rising swiftly to become a senior adviser before joining the private office.