Contact

News & Insights

BLACKTOWER GROUP OBTAINS INDUSTRY-FIRST UNDERWATER LICENCE

Atlantic – April, 2022: Global wealth management firm, Blacktower Financial Management has today announced that it has obtained the industry’s first underwater licence, offering its suite of holistic financial planning services to underwater residents and professionals through the new entity Blacktower Financial Management (Oceana).

The Group has obtained licencing via the Submerged Entities Authority after a challenging three year application process, initially being told by the regulator ‘Don’t hold your breath’.

The licence will cover the Mediterranean Sea, Atlantic and Pacific Oceans, with further expansion planned later in the year.

Gavin Pluck, Group Managing Director said of the launch:

‘We knew that there was a real market for those clients who largely work within the ocean spaces and indeed permanent underwater residents who do not benefit from onshore financial management services; often left to quite literally store their assets in treasure chests. We wanted to be the first brokerage in the industry to launch our services to these previously abandoned markets and really take a deep dive on their financial circumstances; so we are very excited about this expansion.’

‘Obviously, the Submerged Entities Authority* is notoriously a very difficult regulator to appease and so we will be setting up a virtual office off the Strait of Gibraltar, along with a team of advisers experienced with the legal intricacies of underwater territory. We are delighted to further expand the Blacktower Group of Companies both above and under the shoreline.’  

Blacktower Financial Management was founded in 1986 by Group Chairman, John Westwood and the launch of Blacktower (Oceana) follows recent expansions into Australia and Switzerland.

*This regulator does not exist and is purely fictitious. Happy April Fool’s Day from Blacktower Financial Management.

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.

Other News

Could Italy tear the EU apart?

Europe is heading towards a “cataclysmic event” that could lead to the collapse of the euro and the end of the European project as we know it, according to Nobel prize-winning economist Joseph Stiglitz. In the run-up to the UK’s vote to leave the European Union, Italy’s litany of problems had gone largely unnoticed. However, Italy  – the Eurozone’s third largest economy – not only faces political turmoil but enormous economic strife too, and a banking industry on the verge of collapse.

Read More

Are better Interest rates on their way at last?

Graphs and arrowsThe UK has had an unprecedented period of low interest rates;  2009 saw the base rate drop to 0.5 and then last August down to 0.25.  That’s eight years of extremely low interest rates.  Whilst this has been great for borrowers and helps to keep the business economy afloat, it has been disastrous for those people in or approaching retirement.  Annuity rates have been terrible for pension income returns and the bank rates for the people who have savings have been providing very poor returns.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.