James Hambro & Partners has unveiled a new investment management service for American clients after receiving authorisation from the US regulator, the Securities & Exchange Commission (SEC).
The UK-based wealth manager says it is seeing growing interest from American investors unsettled by the political climate who want their money to be managed outside the US.
The move comes as many UK firms that have traditionally provided these services have begun retreating from the market.
JH&P CEO Andy Steel said: “Anxiety around the political situation in the US means more and more wealthy US individuals are challenging the traditional home bias and looking overseas for wealth management but there are very few firms in the UK who can credibly do this.
“Several of those who can are actually giving up their SEC registration because they are concerned about the regulatory burden but we have a strong compliance culture and a clear focus on what’s best for the client. We’ve done our homework and we clearly understand the SEC compliance process”
The move follows JH&P’s recent hire of William Francklin from Waverton – a respected US specialist with a long history of managing assets for American investors.
Francklin visits the US regularly to meet company management teams as well as investors. He said: “I’m meeting lots of families who are interested in using our service, particularly on the West Coast where so many disruptive technologies are emerging and where a staggering amount of wealth is being created.
“Many wealthy American families have offshore trusts and require a non-US money manager or at least one based outside of the US to run these. Other family offices do it purely for investment reasons – they want to diversify outside of the US and there’s enormous appeal in having an expert manager they can trust who is based in Europe like JH&P.”