Both Meyado and Portfolio Builders are licensed by the Monetary Authority of Singapore.
Mark Paine, chief executive of Meyado said: “This transfer created a great opportunity to grow our Singapore based business. As the market evolves, we’re continually looking to expand and solidify our business.”
“Portfolio Builders is such a similar business to ours, the fit is perfect. We look forward to a seamless transition and maintaining Portfolio Builders’ excellent service record,” he said.
Meyado, established in 1993, is a global business with several offices in the UK, along with Singapore and the Philippines. It has focused on advising expatriate clients since its inception and currently manages 4,500 clients globally.
Duncan Andersen, chief executive of Portfolio Builders said he had been looking for the best possible succession plan for Portfolio Builders.
“Meyado is such a natural fit that it made perfect sense for us to join forces for the benefit of clients,” he said.
Meyado and Portfolio Builders have been working closely with the MAS and other regulators in Singapore to ensure a seamless transition for Portfolio Builders’ clients, representatives and staff.