Wealth manager expands overseas business
London & Capital has appointed Mark Estcourt to lead a new immigration, investment and wealth management division to help international families.
At a time when many wealth managers are shying away from expat clients, and particularly Americans because of the complicated tax implications involved, London & Capital is developing its proposition for people seeking a Tier 1 investor visa.
London & Capital co-founder, Daniel Freedman, said: “The prevailing global economic and political climate, allied to the attractions of an established education, health and legal system, means growing numbers of families see the UK as a haven. As a result we are seeing a new market emerge, those seeking a Tier 1 investor, presenting firms with exciting opportunities.
“With US resident non-doms and green card holders accounting for a significant portion of our revenues, and our experience in this niche market, we want to service the investment requirements of international families.”
Mr Estcourt’s team can help with the complex investment requirements of a Tier 1 investor visa, and give a full wealth management service, which will include financial planning, real estate and general planning, and contacts.
Mr Freedman said: “In making this appointment we have been quick to respond to a new opportunity, with many organisations shying away from the challenge. We have also underlined our commitment to working with international families.”
Mr Estcourt said: “We expect to bring our proposition to market during the final quarter of 2012, and I believe this growing market will become a rich source of revenue for the firm.”
The announcement followed news that Cheshire headquartered international financial services firm, Alexander Beard Group, has entered a partnership agreement with London & Capital, to provide an outsourced, discretionary managed investment proposition for use by its UK-based financial advisers.
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