France-Based US Expats Get New Wealth Offering

Robbie Lawther

26 October 2018

, the wealth manager with a special focus on serving expat Americans and clients with links to the US, has launched a service for US expats in France.

Targeted at the estimated 100,000 Americans who live and work in France, the firm will advise clients on local French and US tax regulations as well as giving tailored investment advice on how to put financial ideas into action. The service covers how domestic US and European assets are managed, such as retirement accounts. London & Capital will offer wealth planning, investment management and reporting services to its clients.

“Americans living and working in France, particularly high net worth Individuals, are facing an increasingly complex tangle of regulatory and reporting requirements,” said Adam Myers, associate at London & Capital. “Over nearly three decades, London & Capital has gained a reputation as the wealth manager of choice for Americans living and working in the UK, and we are delighted to formally extend our offer to those residing in France. This will build on our existing presence in the country, where our specialism in working with US expats has been sought out by a number of new clients.

Myers added: “For American investors in France, it is essential that any portfolio is constructed with a global, currency-aware investment strategy, consolidated with investments elsewhere in the world, and administered in a way that is optimised for both French and US tax codes and reporting. Our US family office team work hand in hand with our investment desk to create bespoke investment portfolios for each client, based on strategic global asset allocation and implemented within the appropriate investments and wrappers to meet their long-term objectives.”

London & Capital is an independently-owned wealth and asset manager. Established in 1986, it has £2.8 billion ($3.6 billion) of assets under management, as at June 2018. It is one of a handful of businesses that make a virtue of serving expat US citizens and Green Card holders, many of whom have faced an uphill struggle to get financial services abroad in recent years. The US extra-territorial tax rules that have kicked in have encouraged some foreign banks, such as Deutsche Bank and HSBC, to cease providing US expats with accounts. As a result, their predicament has encouraged groups such as to lobby for reform of the US worldwide tax regime.