The two sides of the business – international and local – however, have created an interesting juxtaposition that Davis and Rees have been able to use to their advantage. With the sophistication to sell international products in short supply, Davis and Rees have come up with a novel solution to fill their skills gap.
“We recruit local guys into the local business, train them there and get them to work in the local marketplace first. Once they have become a bit more experienced – then we transition them into the international side,” Davis says.
Once they have gained experience, local advisers sit the international qualification.
Expanding with caution
The company has around 50 advisers, with each carrying a client load of between 100 and 150 clients.
Firmly established in Mexico; with three regional offices and a presence in Costa Rica, International Advisor has approached expansion in Latin America with caution.
Plans to open offices in Brazil and Colombia were scrapped when Rees and Davis realised the difficulties they faced.
“I went down and looked at setting up an office in Brazil, but we just did not like the market, so we pulled out of that very quickly,” Davis says.
Rees adds: “We decided that if the worst we can is to be the biggest firm in Mexico, and that is all we can be, then that is enough for us because there is so much scope for growth in Mexico.
“The problem we face is that the lifestyle in Mexico is very good, the standard of living is very good and we have got some great guys working for us – and they are the guys who should want to go and open in different market places.”
“But they won’t because they enjoy Mexico so much,” Davis adds.
“So that is kind of our problem, trying to find business partners that will come in and help bring the International Advisor brand to new markets. And there is a lot of trust required with that as well. That is the way we see our market progressing.”
