UK wealth manager seeks US clientele

London & Capital has sought to gain US clients by launching five new investment portfolios it claims are tax-efficient and overcome regulatory barriers.

London & Capital is looking to boost its book of high net worth US clients with a range of new portfolios.

The firm, which advises and develops investment strategies for private individuals, family offices, institutional investors, intermediaries and charities, has launched five US-managed portfolios, incorporating different levels of risk, and these are available to US clients investing and working in the UK.

More regulation, harsher investor penalties, and a withdrawal of UK banks and wealth managers from the US client-base motivated the firm to launch the new products, said Daniel Freedman, joint managing director and head of US family office at London & Capital.

The portfolios are being marketed to the advisers of US citizens and green card holders, through a platform provided by Praemium, a web-based portfolio administrator.

“One of the key benefits the US-compliant portfolios offer advisers is that they retain complete control of the client relationship,” said Freedman.

Existing UK wrappers, such as ISAs and SIPPs, can also be retained, allowing US clients to take advantage of tax-efficient UK structures.

A minimum investment of £10,000 is required, or equivalent in dollar and euro denominations.

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