Wealth manager RBC Brewin Dolphin (Ireland) is now offering its discretionary investment management service via financial advisers in the EU, International Adviser can exclusively reveal.
The intermediary proposition will provide investment management to British expats that need an EU-domiciled investment manager.
Post Brexit, UK advisers are not allowed to advise EU residents, which has left many clients without ongoing financial advice.
Ian Kloss, head of nationals, networks and international distribution at RBC Brewin Dolphin, said: “RBC Brewin Dolphin’s Ireland business is an important part of the company’s structure for delivering an EU compliant proposition to European clients.
“Brexit rules around passporting caused considerable confusion for advisory firms that work with British expats across the EU. We hope with this new offering we can provide them with a tangible, seamless solution for their clients’ investment needs.”
RBC Brewin Dolphin’s Irish business manages €4bn (£3.44bn, $4.27bn) of clients’ money, as of 30 April 2023.
To support the proposition, the company has appointed Lorraine Reddaway as business development manager for Europe.
She brings over 30 years’ experience of working with intermediaries internationally. Reddaway was previously a partner at Global Wealth Management Solutions.
Reddaway’s role at RBC Brewin Dolphin will be to develop the intermediary proposition and continue to build relationships with adviser firms in the EU.
She said: “There are expatriate clients without advisers, and advisers who have been left without a great discretionary investment management offering that is suitable for British expats, so I’m really excited to be able to help meet the demand from advisers and their clients alike.”