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Brown Advisory to target US expats
by James Phillipps on Aug 19, 2013 at 10:17
Brown Advisory has launched a new service offering discretionary asset management to US expats resident in the UK.
The US-owned firm believes there is a significant opportunity with 126,000 US expats living in the UK at a time when several banks have withdrawn from the market ahead of the introduction of the Foreign Account Tax Compliance Act.
It will offer a range of open architecture investment management services, investing across a broad spectrum of asset classes.
Brown Advisory beefed up its private client arm last December, bringing in Simon Peck (pictured) from Fleming Family & Partners and Quintin Ings-Chambers from SGPB Hambros to head its London team.
Logie Fitzwilliams, head of Brown Advisory’s international business, said: ‘Over the past five years, as we developed our business in London, we noticed how American citizens living in the U.K. struggle to obtain investment management services as many firms are turning away clients with connections to the U.S.
‘Increased regulation has made it more difficult for U.K. wealth managers to work with U.S. expats, but with our 20 year history of managing assets for private clients in America, it was clear that our business is perfectly positioned to offer an investment solution whilst clients remain in the U.K. and, in addition, to provide a seamless transition should they return to the U.S. We believe our American roots are a key differentiator for us.’
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