UK- and Gibraltar-based Blacktower, which provides independent wealth management advice and services for individual and corporate clients, is launching an office in the Cayman Islands before year-end.

UK- and Gibraltar-based Blacktower, which provides independent wealth management advice and services for individual and corporate clients, will unveil an office in the Cayman Islands before year-end.

The firm confirmed to Family Wealth Report that it has obtained a securities and investment business licence from the Cayman Islands Monetary Authority, which will enable it to also give advice in a “more conventional wealth management capacity.”

The new office, located in George Town on Grand Cayman, is being structured as a separate company within the Blacktower Group. The firm expects to have around six employees there by the end of 2014.

It will serve expatriates of all nationalities in the Cayman Islands, including US individuals. These will fall into two groups: working expatriates who need help with their retirement planning and high net worth individuals interested in wealth preservation and investment planning.

Meanwhile, the firm also said it has received branch licensing approval in Malta and Germany, having entered the German market and certain others through a merger with WorldWide Broker Netherlands, which will rebrand as Blacktower next year.

Blacktower currently has offices in the UK; Spain; Malta; Germany; Portugal; France; Gibraltar; and Italy.