That is the warning from Stephen Fern, the Jersey resident chairman of a network of the world’s wealthiest families.

The normally secretive world of the global super rich hit the headlines last week when the Financial Times featured a story about the challenges the world’s wealthiest families face as a result of new US tax rules.

And the newspaper reported that Jersey resident Mr Fern is chairman of the G9, a private, invitation only network of the world’s wealthiest families.