"Diversification beyond asset allocation"

For decades, diversification was understood primarily as the allocation of assets across different asset classes and within individual asset classes. Equities, bonds, real estate and alternative investments were intended to balance risks and stabilise returns. This principle remains valid – yet it is increasingly insufficient. In a world marked by rising geopolitical tensions, growing fiscal pressures and regulatory volatility, wealth is exposed not only to market risks, but also to state intervention and legal uncertainty.

Topics covered in this publication

• When markets remain stable but legal systems do not
• Jurisdictional diversification as a structural response
• Structured governance through overarching wealth vehicles
• Liechtenstein as a stable component of international structures
• Wealth planning as a long-term governance task
• A perspective from advisory practice