British wealth manager James Hambro & Partners (JH&P) has launched a new investment management service for US clients after securing the nod of the Securities & Exchange Commission (SEC).
The firm said that the move was triggered following a growing demand by American investors to diversify away from the US owing to the existing political landscape and retreat of other firms previously offering these services.
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JH&P CEO Andy Steel said: “Anxiety around the political situation in the US means more and more wealthy US individuals are challenging the traditional home bias and looking overseas for wealth management but there are very few firms in the UK who can credibly do this.
“Several of those who can are actually giving up their SEC registration because they are concerned about the regulatory burden but we have a strong compliance culture and a clear focus on what’s best for the client.”
The launch of the new services follows the firm’s recent hire of US equity markets specialist William Francklin from Waverton.
“Many wealthy American families have offshore trusts and require a non-US money manager or at least one based outside of the US to run these. Other family offices do it purely for investment reasons – they want to diversify outside of the US and there’s enormous appeal in having an expert manager they can trust who is based in Europe like JH&P,” Francklin stated.
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