Ingenious unveils bespoke service for US clients
Ingenious Asset Management has formalised its offering for its transatlantic clients with the launch of IAM-US.
Led by investment director Edward Allen, supported by fellow investment directors Wayne Ellis and Peter Clark, who is also chief strategist at the wealth manager, the move recognises the specialist requirements of US-linked clients – those with US holdings, properties, earnings or domicile connections.
Allen, who joined the group following its acquisition of Thurleigh Investment Managers last year, said many of their clients are based in the entertainment industry, which lends towards transatlantic financial affairs.
Being registered with both the Financial Conduct Authority (FCA) and the Securities and Exchange Commission (SEC) and having a US custodian enables Ingenious to deliver against the more complex needs of clients with holdings in both jurisdictions.
The growing importance of FATCA and other US-focused regulations have just accelerated this side of the business, as well as affecting its wider client base, he said.
Allen added: “We have been operating these kinds of services for a long time and now this just gives us an opportunity to shout about it. Client demand is there and we look forward to growing our client base; we can now stretch out to the market.”
He explained how the business expertise in this sector already existed with Ellis and Clark, furthered with the mechanics and infrastructure in place by having a US custodian and US reporting capabilities.
In addition to UK and US tax reporting, Allen said Ingenious boasts a wide research proposition with access to single stock portfolios and asset managers based here and registered across both tax regimes, a fund list of products compliant in both jurisdictions as well as ETFs.
“We have access to a wide range of institutional tools to build these bespoke portfolios for our transatlantic clients.
“There are probably half a dozen or so investment firms already operating in this space but I suspect they have enjoyed a higher profile than us so far. We are looking forward to playing catch up.”
Ingenious Asset Management manages around £1.8bn and of that around $140bn is for US connected clients.
