Totus goes ahead with Spanish expansion plans
Independent financial advisory company Totus has set a strategy of growth across Spain, where it is already present in Costa del Sol, to target high net worth clients.
London-based Totus is currently in the process of hiring new advisers for representative offices in Gibraltar, Sotogrande, Barcelona, Almeria and Alicante. An additional office is to launch in Marbella in October, and the company is also discussing a joint venture with Barcelona-based tax specialist Leysters Abogados.
According to Totus partners and co-founders Vince De Stefano and Simon Ingram, the continuing euro crisis has led many Spain-resident Britons and expatriates to search of expert help for ailing wealth portfolios.
“Expats are discovering that their residency and tax situations may need sorting out, if they are to avoid the growing risk of unexpected tax liabilities and possible penalty charges, as governments intensify their scrutiny of individuals cross-border and offshore financial arrangements,” De Stefano said.
He added: “More than anything, they want to ensure that their hard-earned capital is secure, their retirement is being adequately provided for if they are still working, while at the same time they want to be able to enjoy their income in an approved, tax efficient manner.”
Photo: Costa del Sol