Wealthy families are increasingly setting up “satellite” family offices in jurisdictions like the Channel Islands, in case they are forced to move their affairs at short notice, an expert says.

Sally Edwards, a partner at Ogier in Jersey, said she had seen a rise in families setting up a second office in response to political uncertainty.

“If political problems get worse they can move much more quickly and easily to an offshore jurisdiction, which they feel can protect them from political or other issues they may have in their home jurisdiction,” said Ms Edwards, speaking at Jersey Finance’s Annual London Priv...