The UK government’s shock decision to impose a 25% charge on transfers to foreign pension schemes announced in the Spring Budget could go as far as to “shut down” the Qrops market, according to industry observers.
John Westwood, managing director and founder of European IFA firm The Blacktower Group, has taken over as chairman at the Federation of European Independent Financial Advisers (Feifa).
Blacktower Financial Management Group says it has no plans to leave Gibraltar for now and will go ahead with the opening of a new office there as the firm sought to reassure the British overseas territory over claims it is looking to move its headquarters to another EU member state.
British expats living overseas face a period of uncertainty around their retirement plans after the UK’s shocking decision to leave the European Union on Friday, according to IFA firms around the world.
Gibraltar-headquartered Blacktower Financial Management Group is planning a possible move of its business to a different European country in a bid to preserve its EU ‘passporting’ status, the IFA firm’s managing director, John Westwood, has said.
SLI has created a new role focusing on environment, social, and governance investment. Nikko AM added to their global emerging markets team, while Hargreaves Lansdown announced a surprise departure.
Now at the helm of Blacktower, John Westwood is steering the wealth management business into new international markets, sailing steadily on-course in a rapidly changing market.
The UK- and Gibraltar-based Blacktower Group is expanding into the Caribbean and Latin American markets, with the establishment of an office in the Cayman Islands.
Gibraltar-based Blacktower Group and WorldWideBroker Netherlands have agreed in principle to a merger of the two advisory businesses, which will see WorldWideBroker rebranding as Blacktower.
As the row between Spain and the UK over Gibraltar came to the end of a second week, Gibraltarians continued to reiterate that it was business as usual on the 2.6 sq mi Rock they regard as a part of Britain.
Blacktower Financial Management Group is establishing an office in Malta, as it expands its footprint eastward across the Mediterranean.
Blacktower Financial Management (International) has launched what group managing director John Westwood says is the company’s “first” investment fund, in partnership with Cheviot Asset Management.
