Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Vestra Wealth to tackle Fatca with launch of US division

Vestra Wealth to tackle Fatca with launch of US division

Vestra Wealth has launched a US wealth division to address the complex regulatory and tax issues of investors with a transatlantic footprint.

Recent legislation such as the Foreign Account Tax Compliance Act (Fatca) will soon come into force and are expected to compound the regulatory challenges already faced by individuals connected with the US.

In particular, Fatca will impact Americans living in the UK as well British residents in the US, with potentially significant implications on their tax and reporting requirements.

Vestra US Wealth Management will be one of the few wealth managers offering portfolios specifically designed for those likely to be impacted by the new rules, while the new division will be headed up by Paul Nixon, director of Vestra US, and Neil Williams.

Announcing the launch, Nixon explained that Vesta is looking to provide suitable investment solutions to clients who face complex legislation due to their links with the US.

'Whilst it has always been the case that US connected investors have been subject to strict cross-border regulation, the implications of new regulations such as Fatca should not be underestimated,' he said. 

Vestra US already has a specialist team in place and will create portfolios that take into account investors' need for income and growth, as well as the relevant tax and investment constraints resulting from exposure to multiple jurisdictions.

David Scott (pictured), senior partner of Vestra Wealth, added: 'As a business which aims to deliver exceptional service, it became clear from speaking to our clients that there was a requirement to provide a specific offering to comply with current legislation for US connected persons.

'We have therefore created a new entity which recognises the need to offer this service to clients in an educated, simple and well regulated structure.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play GAM charity football tournament: the live draw

GAM charity football tournament: the live draw

Former Chelsea and England footballer Graeme Le Saux visits Citywire to make the draw for the tournament, where all proceeds going to Wheels for Wellbeing.

Play FIFA, Panama Papers…and what everyone’s getting wrong

FIFA, Panama Papers…and what everyone’s getting wrong

VIDEO: Investigative reporter Jeffrey Robinson reveals how major corruption scandals are being mishandled and what to expect next.

Play Private Client Manager Retreat 2016: the highlights

Private Client Manager Retreat 2016: the highlights

Join Wealth Manager for a look back on our recent two day event in Hampshire.

Your Business: Cover Star Club

Profile: JPM Wealth MD on breaking the glass ceiling

Profile: JPM Wealth MD on breaking the glass ceiling

During her tenure at JP Morgan, the private bank has changed the way it segments clients in a bid to improve focus

Wealth Manager on Twitter