New Office

Vestra Launches SEC-Regulated US Wealth Business

Harriet Davies, Americas Editor, 15 May 2013


Vestra Wealth, the UK-based firm, is launching a US business dedicated to addressing the complex regulatory and tax issues faced by transatlantic investors.

Vestra US Wealth Management is regulated by both the UK’s Financial Conduct Authority and the US Securities and Exchange Commission.

It is led by directors Paul Nixon and Neil Williams, and also has a specialist team which will create portfolios for clients that take into account income and growth requirements, as well as tax and investment constraints.

Nixon said that investors connected to the US had always faced significant cross-border regulation, but that new developments such as FATCA “should not be underestimated”.

"In particular, FATCA will impact US citizens living in the UK as well British residents in the US with potentially major implications on the tax and reporting requirements for such US-connected investors," Vestra said in a statement.

While some wealth managers have shied away from this cross-border market, others have seen the increase in regulation as an opportunity to offer a highly-specialised service. RBC Wealth Management and Coutts, for example, are both keen on serving US expat clients in accordance with FATCA.  

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