Natalie M Smith, Managing Director, Magentum Fiduciary Services
In the world of business, challenges are inevitable, setbacks are a reality, and uncertainties can loom large. Yet it is the ability to weather these storms, swiftly adjust course and pivot in the face of adversity that separates the thriving entrepreneurs from the rest. Navigating these treacherous entrepreneurial waters demand more than just a brilliant idea or a sound business plan. It requires a resilient spirit and an adaptable mindset, particularly for women entrepreneurs who, in addition to contending with the inherent complexities of business, often facegender-related biases and socio-cultural challenges.Despite these obstacles, women entrepreneurs around the world have been proving their mettleby shattering glass ceilings, and driving meaningful change in various industries.Through resilience, ingenuity, and an unyielding spirit, these visionary leaders are crafting a legacy that reaches far beyond their enterprises, igniting a new era of empowerment and inclusivity.Among these incredible women stands Natalie M Smith, the Managing Director of Magentum Fiduciary Services, a emerging firm dedicated to offering professional Trust, Corporate, Tax and Accounting servicesthroughout Hong Kong and Asia.
Smith boasts a wealth of experience in the realm of Tax & Estate Planning, along with a deep understanding of Trust & Company Structures. She has worked with family offices, international entrepreneurs, and corporate entities.“With us being a licensed and regulated Trust and Corporate Services provider, we can offer holistic and cost-effective services for individuals and companies and provide a differentiated, tailored approach compared to the larger players in the market,” asserts Smith.
A Remarkable Journey to the Prominence
Having always wanted to be a Solicitor, Smith was admitted to the esteemed Supreme Court of Justice of England & Wales in 2003.After 2 decades of practice in both regional and city law firms and heading up the Private Client and Wealth Structuring department for one of the prestigious ‘Big 4’ Accountancy Firms, she set up her own consultancy company in 2013, offering legal and business consulting services to law firms and family offices. But, unexpectedly, in 2019, she was offered an opportunity in Hong Kong to join Lutea (Hong Kong) Limited as Director. Having never been to Asia, it was quite challenging for Smith. But undeterred, she accepted the offer all while maintaining her credentials as a Solicitor in England& Wales. She made a bold move across the globe to Hong Kong, arriving amid protests in November 2019, little did she know, her arrival would coincide with the outbreak of a global pandemic.However, despite the challenges, Smith’s adaptability and quick thinking allowed her to not only weather the storms but also emerge stronger and more focused. In December 2021, she was promoted to Managing Director for Asia, marking yet another unexpected milestone. Then, a pivotal turning point came in July 2022, as Lutea (Hong Kong) Limited underwent a transformation, becoming part of Magentum Fiduciary Services, a new entity owned by the management team with support from an established family office. Fast forward to today, approaching the four-year mark in her career in Hong Kong, Smith remains at the helm, continually charting fresh objectives and aspirations, both for herself and the promising trajectory of Magentum Fiduciary Services.
Lessons from Setbacks: Embracing Adaptability and Failure
Being an entrepreneur often comes with challenges and roadblocks, and Smith’s journey was no different. But instead of seeing those challenges and failures as obstacles, she considers them as a powerful catalyst for fostering adaptability.Whether it was the disappointment of a contract gone awry or the challenge of establishing and maintaining firm work-life boundaries, Smith has fearlessly and tenaciously confronted each setback perceiving it asan opportunity to cultivate resilience and embrace change. To overcome these challenges, she emphasizes the importance of shifting mindsets, experimenting with new approaches, and embracing change with an agile spirit. “Embracing change and pivoting are part of the adaptability that helped me overcome obstacles, learn from mistakes, be more resilient and apply these to continue with the pursuit of my goal,” she affirms.
Striking a Balance betweenWork and Personal Pursuits
According to Smith, balancing the demands of work and a personal pursuit will not happen on its own. One must create a strategy and a vision of what a successful professional and personal life will look like. “The key is to know your priorities and review them regularly to be sure you are true to yourself and those around you,” she points out.
Besides work, Smith is also an avid fan of football and water sports. Thus, she deftly manages the time zone disparities for English and European football matches by choosing to wake up early at 03:00 am. This enables her to indulge in her favourite pastime while also commencing her workday a tad earlier.Reflecting on the significance of work-life balance, she acknowledges its universal importance, a realization further magnified by the pandemic. She considers herself fortunate to be surrounded by wonderful individuals who share her love for water activities, hiking, leisurely meals, and cherishing quality time with family. Additionally, she’s an integral member of a vibrant paddling team—a dedicated and surprisingly competitive social group that embarks on weekend dragon boating.. “Deciding when, where, and how to be accessible for work is an ongoing challenge and I, like many, am still learning to manage communications technology better,” she adds.
Charting the Path Forward
Under the astute leadership of Smith, Magentum Fiduciary Services has made remarkable strides since its inception. However, far from resting on its laurels, Smith aspires to secure additional funding to enhance the company’s people, technology, and infrastructure, thereby solidifying its position as a leading player in fiduciary services across Asia.By achieving this vision, she aims to bring forth a wealth of knowledge, generate fresh employment prospects, ignite innovation, and introduce services to uncharted markets within the APAC region. With a favourable tax framework, strategic geographical position, and robust legal and regulatory landscape, Hong Kong forms an indispensable scaffold for realizing the vision.
An integral part of Smith’s strategy lies in building a network of supportive connections, particularly with fellow enterprising women, which is a great way to share experiences and navigate challenges together. Fortuitously, Hong Kong boasts a supportive network of such like-minded women who are eager to provide encouragement and guidance.
Empowering Words of Wisdom
Drawing upon her extensive years of experience, Smith advises emerging entrepreneurs to perceive challenges as stepping stones and not to give up. While it’s true that certain challenges are beyond our control, Smith encourages entrepreneurs to focus on what they can control – their own efforts and approach to problem-solving.In the face of gender-related challenges, she passionately urges women to embrace their own abilities with confidence. She encourages them to believe in themselves and their skills even in the face of adversity.“It is important to remember that you have value and that your contributions are important. Take the initiative to seek out opportunities for growth and development, don’t wait for opportunities to come to you – go and create them,” concludes Smith, underlining her perspective.