Outlook for Trust & Estate Business stalls near term but confidence in the long term grows strongly

The Society of Trust and Estate Practitioners’ (STEP) latest global quarterly confidence survey reveals doubts about the immediate future but confidence in the long term.

The STEP Near Term Confidence Index, which looks at the outlook over the next three months, has remained at 11, unchanged from the second quarter. This index was -13 at the start of 2009. In contrast, the STEP Longer Term Confidence Index, which looks at the outlook over the next 12 months, increased significantly from 23 to 33, which is the biggest quarterly rise for two years.

STEP Chief Executive David Harvey said: “These survey results show our membership have confidence about the long term outlook for trust and estate business, but are still wary of changes to the economy in the short term.”

The quarterly confidence survey looks at members’ views across a wide range of jurisdictions and trust and estate businesses.

The Confidence Indices are constructed by taking the balance of survey respondents replying that they expect business to “improve” or “significantly improve” relative to those expecting business to “decline” or “decline significantly”.

Findings of the 3rd quarter 2011 STEP Business Confidence Monitor can be accessed online at: http://www.step.org/resources/policy_and_technical/worldwide_policy/quarterly_confidence_surveys_.aspx?link=contentMiddle

ENDS

For further information about the STEP quarterly confidence survey contact: Scott Devine, Policy Executive, +44 (0) 20 7340 0529. scott.devine@step.org

The Society of Trust and Estate Practitioners (STEP) is the worldwide professional body for practitioners in the fields of trusts and estates, executorship and related issues. STEP aims to promote the highest professional standards through education and training leading to widely recognised and respected professional qualifications. STEP also works to demonstrate the value of good stewardship and planning across future generations to governments, professionals, financial institutions and the public. STEP internationally has over 16,500 members, with over 6,000 members in the UK. Over 4,000 students worldwide are currently studying for STEP qualifications and in the UK STEP supports an extensive regional network providing training and professional development.