Tilney Smith & Williamson eyes significant opportunities with European advice firms as the competition from other UK-based discretionary managers has rapidly faded.
Maurice Keane, Head of International Business, explained, “With the UK having now left the EEA and Europe’s regulatory framework, local European regulators and pension trustees are now insisting that discretionary fund managers are also regulated in Europe.”
Most UK-based discretionary investment managers have found themselves shut-out of the market since the start of the year.
Through its group structure and regulated subsidiaries, Tilney Smith & Williamson is now unusually well-placed to continue to support financial advisers operating in Europe and their clients.
Ahead of the merger between Tilney and Smith & Williamson, Tilney beefed up its international business development team last year to extend its presence working with IFAs operating in Europe.
Maurice Keane was one of those hires, along with his colleague Jeremy Bezant from Rathbone Brothers. Working alongside Hariette Collings, Director, Business Development the trio have hit the ground running developing relationships with international firms of IFAs.
Keane explained, “The Tilney Smith & Williamson group, is in an incredibly strong position in the post-Brexit landscape. Through Smith & Williamson Investment Management (Europe) Limited, a MiFID-authorised subsidiary regulated by the Central Bank of Ireland, we have an EU-domiciled hub with full MiFID passporting rights for the investment management services it provides from Dublin and an EU-based custodian in place.
He continued, “For unitised solutions, we also have a comprehensive suite of Dublin-domiciled OEIC funds in the Tilney Active Portfolios and Global Active Portfolios, which can be accessed by EU-based clients.”
Keane concluded, “This incredibly advantageous position when coupled our excellent investment pedigree as one of the largest private client investment managers means that we are pushing at an open door with European IFAs.”