The Cayman Islands Monetary Authority (Cima) has upgraded permissions for Blacktower Financial Management’s Cayman entity.
The firm has now been granted a broker dealer licence which will allow it to offer a range of securities trading and dealing services, alongside its existing execution-only and discretionary management proposition.
The financial planning business will also be able to provide its Cayman clients with a self-trade facility and a more tailored investment experience, it said.
Blacktower was granted a full securities and investment business licence by Cima in 2015, later opening an office on the Caribbean island in 2019.
John Westwood, group chairman at Blacktower Financial Management, said: “This development is not only a tremendous step forward for Blacktower Cayman, but also for the rest of the Blacktower Group.
“The broker dealer licence positions us to compete fully within the Caribbean and international wealth management industry and presents the opportunity to provide our clients with a truly personalised and bespoke service.”
