WHVP, based in Zurich, has chalked up 30 years of serving US clients. This area of business has been through turbulent times, and at times US expats have struggled to obtain access to foreign financial and fund management services.
Switzerland’s WHVP is celebrating its 30-year anniversary as an independent asset manager focusing on serving US expats and US citizens looking for Swiss asset management solutions. This is a market that has become a larger niche segment in recent years.
The Zurich-based firm was founded by Robert Vrijhof and two partners in October 1991. Since late 2020, the second generation of the family business has taken charge. A total of five employees work in the business.
The task of serving US expats is difficult because US tax is levied on a worldwide rather than a territorial basis, unlike most nations. Since the enactment of the FATCA legislation in 2010, the ability of US citizens and Green Card holders living abroad to obtain access to foreign financial and fund management services has been challenging. However, a cluster of firms operating in Switzerland, the UK and other select jurisdictions have branched into this area. They realise that many US expats are affluent clients. Among firms offering financial services to US expats are London & Capital, Maseco and Schroders. AW Switzerland, a network connecting clients to Switzerland-based firms advising US clients, has a mass of firms in its listings operating in the space.
The firm has been registered with the Securities and Exchange Commission since 2011. To be a client, people must have a minimum balance of $250,000.
“WHVP has experienced exceptional growth since the successful implementation of the succession plan. Moving forward, our focus will remain on offering accessible Swiss wealth management for US connected people,” Jamie Vrijhof-Droese, managing partner of WHVP, said. “Additionally, we are continuing to strategically collaborate with Swiss asset managers who are looking for a compliant solution for their US clients beyond the limitations of the Dodd Frank act.”