Tom Burroughes
Group Editor
16 April 2012
Feature
Editor’s note: London & Capital, the wealth management firm created a quarter of a century ago, is an international business now with a presence in Asia as well as North America and Europe. The firm has been prominent, for example, in explaining the impact of the US FATCA Act on expat US citizens. In this interview, Iain Tait, partner at the firm, talks about the business, prospects and strategy.
Background
“The firm was established as an independent wealth manager some 25 years ago by our two founding partners, Daniel Freedman and Richard Leigh; we remain independent. Headquartered in London, we are FSA, SEC and SFC regulated, with additional offices in the Isle of Man and Hong Kong, and a significant presence in the US.”
“In managing the wealth of HNW individuals and their families, trusts and institutions, we have always worked closely with accountants, lawyers, consultants and financial advisors. They have always been, and remain, our principal introducers.”
Q, The Asia business - when was it set up and what sort of work is it doing and looking for?
“Recognizing the tremendous wealth creation taking place in the Greater Asia region, we established the Hong Kong office just last year, opening for business in September.”
“In Asia, family wealth tends to be tied up with the family business, and the institutions managing a family’s assets have not, in the experience of our Asian partners, always been able to act independently and in the client’s best interests. The clients’ needs have often been overlooked as a number of teams, all profit centers in their own right, have fought for a ‘piece of the action’. Our ten-strong team was assembled with a view to offering the Asian HNW community a real alternative - a truly holistic wealth management strategy - capable of providing comprehensive M&A consultancy services as well as wealth management strategies for those looking to invest the proceeds of a capital event. We are very much encouraged by their early success.”
