Euro American Financial Advisors has obtained a licence from Spanish regulator Comision Nacional Del Mercado De Valores (CNWM) to offer investment advice services to US expats living in the country.
Sevilla-headquartered EAFA is run by president Shane Clark and will offer services across the European country.
Tom Zachystal, who resides in the San Francisco Bay area in the US, will be supporting Clark in business operations.
The firm said it has opened to help US expats in Spain that need investment advice and portfolio management services/trading on their accounts custodied in the US as most institutions will not serve them.
EAFA will offer investment advice to its clients, including personalised financial planning, currency risk management, cash flow management, tax efficiency, asset protection, retirement planning, and risk management.
The firm’s typical clients will be individuals with average investable assets of $1m (£860m, €1m)
Demand
Clark told International Adviser: “Someone said to me once, if you choose to move it is for one of two reasons, love, or a job. While, working at International Asset Management, a US-based registered investment adviser firm specialising in expat investment advice, we saw more and more US citizens choosing to move abroad, specifically in Iberia and the greater EU.
“Tom Zachystal and I decided a local presence was necessary and Euro American Financial Advisors was born. I see a strong demand from US expats for investment advisory services from regulated advisers who understand the unique set of circumstances they face. We are building on over 20 years’ experience and have specialised expertise and aim to provide a boutique service to US citizens who seek investment advice, and financial planning residing in the EU.
“We will offer transparent, comprehensive investment advice, through our unique understanding of financial circumstances for US expats.”
This comes several weeks after IA interviewed Blacktower about how a rise in US expats flocking to Portugal ‘impossible to ignore’.
