Advice group Finsgate has received a preliminary licence from the Malta Financial Services Authority (MFSA), International Adviser can exclusively reveal.
The firm said it will have a full launch in Q1 2023 and added that the licence will give the business Mifid permissions.
Finsgate, which already has a Financial Conduct Authority (FCA) licence in the UK, said it will offer wealth management and advice to international clients across Europe with particular focus on the banking sector.
Initially, the firm will have a team of 10 in Europe, but it is looking to expand with new offices within the first year.
Daniel Goggin, financial adviser at Finsgate, said: “This licence gives us the ability to continue and grow our operations in Europe, giving our clients a UK level of service and fees across the continent.”
This comes several weeks after IA reported that Finsgate was eyeing direct authorisation in Malta.