US investment management firm Brown Advisory, has introduced a new service to support US expats living in the UK.
The firm has expanded its private client capabilities to include a new investment management service, which is expected to meet the demands of about 126,000 US nationals, who are living in Britain.
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The new service has been developed to meet the increasing demand for dual jurisdiction investment management and tax reporting services, following on-going regulatory changes.
The new offering will provide a range of open architecture management services for those who invest in a spectrum of asset classes.
The open architecture program will complement its internal US equity and fixed income strategies to offer clients an optimal investment solution. This approach provides access to a wide range of investment opportunities, including international stocks and bonds, hedge funds, private equity, commodities and real estate.
The private client services team in London is headed by Simon Peck and Quintin Ings-Chambers.
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By GlobalDataLogie 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 UK struggle to obtain investment management services as many firms are turning away clients with connections to the US.
"Increased regulation has made it more difficult for UK wealth managers to work with US 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 UK and, in addition, to provide a seamless transition should they return to the US.
Simon Peck said: "A high proportion of US citizens in the UK are experienced and wealthy individuals. It is likely that they will have built up assets on both sides of the Atlantic and wish for these to be managed efficiently with one overall strategy.
"We feel we are ideally placed to serve US expats given our heritage, deep understanding of investment solutions and sophisticated tax reporting," Peck added.
With about US$40 billionn in institutional and private client assets, Brown Advisory currently manages around US$20 billion for families and private clients across the world.
