RC Brown is aiming to establish a presence in Portugal by targeting the British expat community in the country.
Citywire AA-rated Oliver Brown, an investment director who is also the son of the company’s founder, Bob Brown, said the process has been underway for a couple of years, but that activity has increased of late.
‘Wealth management services in Portugal have a poor reputation and many people there have been the victims of scams,’ Brown said.
In light of Brexit, the the investment management firm is considering setting up shop in Europe to be able to export its services to the EU.
Although Portugal is an obvious choice, Brown says Dublin is also a contender for international business development, since there is no language barrier and Ireland’s bureaucracy is straightforward.
Portugal became an area of interest for the firm because Citywire AA-rated investment director Alan Beaney spent time in the country at a property he owned.
‘There are a fair amount of British expats there. We recently joined an expat convention and received much interest from people,’ Brown added.
A couple of new clients have gone on board as a result of the recent push into Portugal, while the firm is in talks with a number of others.