Financial advisers from across the world have reacted on linkedIn to a Sunday Times report published 28 April on the ongoing saga of Brite Advisory Group entitled ‘The thief, the fraudster and £3bn of missing pensions’.
The Sunday Times piece emphasised the scale of operation involving multiple regulators, as previously reported in a series of stories on II’s website including on 7 February this year Australia’s Federal Court ordering Brite Advisors Pty Ltd (Brite) to “be wound up on just and equitable grounds” following an application by Australian Securities and Investments Commission and on 23 November 2023 the US’s SEC suing Brite Advisors USA over custody rule violations and disclosure failures.
Prompted by this coverage, Alan Smith, CEO of London-based Capital Asset Management asked Linkedin members to “share details of trustworthy offshore advisers”.
He said: “There are so many scammers and fraudsters working in the unregulated parts of the world and targeting British expats. There are also some excellent advisers out there – but you’ve got to do your homework to find them. Please share details of trustworthy offshore advisers.”
Among the responses Con Lillis, CEO at Abacus Financial Consultants LLC said: “Why is this task still so difficult for people… it should be really easy to locate a trusted IFA internationally. Something needs to change fast because so much is subjective. The message to everyone has to be: caveat emptor; proceed with caution.”
Alan Smith responded: “It can’t be that easy if smart professionals like investment bankers and lawyers are being scammed. It’s good to see some names that others can vouch for in the comments.”
Michael Yuille France-based managing director Northern Cross Wealth Management cited the following adviser across the world: Dubai -based Chris Ball, co-founder of Hoxon Capital Management, Poland-based AES International’s Ross Naylor, Netherland’s based Peter Button international financial adviser with Blacktower Financial Management.
In the UAE, he picked out Joshua Nash, associate partner – financial planning at Anthony Walsh fSwitzerland Jonathan Martin, managing director Synergi Investment.
Jonathon Jay CFP, partner at DSW Wealth Planning cited: Mauro De Santis Bo, Chartered MCSI LLB, partner at GSB Capital, Stuart Ritchie APFS, Chartered FCSI, managing partner at GSB Wealth and Yazmin Boden partner at GSB.
Phil Bray founder of financial services marketing specialist The Yardstick Agency, also weighed in spotlighting the following advisers such as Hong Kong-based Howard Clark-Burton, chief executive officer, BMP Wealth; David Snelling, founder & financial planner, Charlton House Wealth Management and Matt Hooper, head of marketing, Oreana Financial Services, UK and Australia licenced Simon Harvey, group managing director, BDH Sterling, and Black Swan Capital Europe’s Netherlands-based David Bellingham chief executive officer & director and managing director Edward Mainwaring-Burton.
Jay also picked out Alex Stojkovic, managing director of London-based expat specialist Alexander Peter Wealth Management, Paul Beard, founder and Executive Chairman of Alexander Beard and ASingapore-based Rory Brown, partner ADaniel Purchon and Paul Charles.
