International investment and financial planning firm, Blacktower Financial Management Group, announces the launch of its offering in Panama.
Gibraltar, 10th October 2022
Blacktower Financial Management Group, providers of individual and corporate financial planning, has today announced that they are now licensed to offer their bespoke services in Panama. This follows the recent acquisition of a full broker dealer licence for their Cayman entity and the group’s expansion into Swiss and Australian markets this time last year.
Blacktower asserts that their full range of services, including overseas pensions advice, tax planning and wealth management, will be available to both residents and expats, after acquiring the regulatory and licensing requirements needed to operate in this region.
Blacktower have also delineated the opportunity this presents for their IFA network, Nexus Global, which was established back in 2010. Group Managing Director, Gavin Pluck, states that ‘it can be incredibly challenging for advisers and smaller wealth management firms to gain access to smaller markets such as Panama; this expansion is not only significant in Blacktower’s development, but it also represents a pivotal moment in the evolution of our IFA network and offers a real opportunity to those operating under our regulatory umbrella’.
Chairman and founder of both Blacktower and Nexus, John Westwood, adds that ‘Panama, whilst small, is a valuable addition to our regulatory footprint. It has proved itself to be one of the fastest growing economies in the last decade,doubling its income per capita. With our Cayman entity just across the Caribbean sea, it is incredibly encouraging to see Blacktower cementing its presence in this part of the world and illustrates our ongoing expansion outside of Europe in to regions such as LATAM.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Expat financial advice providers and their clients need to be especially vigilant to ensure that they meet their legal obligations under the newly updated Common Reporting Standard (CRS), which will come into effect in September 2018.