The Maseco Institutional Discretionary Fund Management service has been designed for advisers of affluent US expatriates living in the UK and Europe. By outsourcing the investment management discretion, custody and regulatory reporting requirements it will allow those advisers to deal with US clients’ investment needs for the first time.
The firm said it developed the solution in recognition of the regulatory and tax issues which prevent UK and European private client advisers taking on US clients. The service will provide both US and UK approved investment portfolios and will manage them on a discretionary basis.
Maseco managing partner Josh Matthews said: “There are numerous challenges an adviser faces when helping a client manage their financial affairs. These challenges are only made more difficult when that client is an American, due to the unique tax and regulatory requirements the client faces.
“Maseco Institutional is the opportunity for advisers in the UK and Europe to work with an affluent client base that was previously closed to them.”
The firm said among the benefits for advisers using the service was the ability to retain the relationship with the client, gaining access to a previously unapproachable segment of the market, outsourcing the business risk of managing accounts for US clients and gaining low cost access to an institutional investment philosophy.
