American fintech outfit Mirador has strengthened its reach in the UK by opening a new office in Edinburgh, Scotland.

The new office, called Mirador Worldwide, has been set up to cater to the clients outside the US.

Mirador said it selected Edinburgh for its new branch due to the location’s favourable time zone as well as the presence of resources that are suitable for business and a booming tech community, among others.

Mirador CEO and president Joseph Larizza said: “In order for Mirador to continue to deliver exceptional client service, we have to have a shop in Europe.

“We thoroughly looked into other sites, and I can say without hesitation that Edinburgh is where we need to be.

“Senior staff members willingly volunteered to relocate, we have hired our first Scotland-based employee and are actively recruiting additional talent.”

Mirador currently serves diverse clients in the wealth management sector, including ultra-high-net-worth wealth advisors, families and family offices as well as endowments and foundations.

The firm primarily offers financial reporting services, middle office services, technology solutions along with compensation management.

With a workforce over 160 employees, Mirador already has presence in the US, and the UK’s Dublin and Ireland.

Last month, Mirador announced that it was chosen by wealth management firm Artorius to carry out implementation and post-implementation servicing.

In November last year, Swiss bank UBS forged an alliance with Mirador to provide its ultra-high-net- worth clients with improved wealth analysis and reporting solutions.