While the industry has seen much change over the 35 plus years that John has been involved, he says that Blacktower’s insistence on and adherence to a strict set of guidelines and adoption of the highest levels of transparency has helped raise standards amongst international financial advisers across markets.
John says the most significant change he has experienced during his career as part of a global wealth management firm was in 2008 when the financial collapse brought about unprecedented business challenges. The meltdown required Blacktower’s expert management of client expectations as markets and product providers failed, whilst, as Managing Director, he had to simultaneously ensure that the business remained buoyant and secure.
Kirsten Hastings, editor of International Adviser, said that the publication decided to “shine a light” on the movers and shakers who have helped quicken the pace of change in the financial services industry by forging ahead with innovation or leading by example.
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In September 2017, it was announced that the Portuguese Government, following pressure from Sweden and a number of other European countries, was looking to water down the country’s non-habitual residency (NHR) tax regime, potentially bringing to an end a programme that has worked in the interests of expats since 2009. The uncertainty this proposed move provoked certainly threatened to put a dampener on the financial plans of quite a number of expats and would-be expats as they moved into 2018.