Brexit has spurred wealth adviser deVere Group to launch an office in Munich.
The Munich operation will be headed by area manager Glen Crosfill, who has moved from Dubai, where he held a similar role within the organisation for seven years. He will report to Nicholas Grams, deVere Germany’s country manager.
Crosfill said the company had opened the Munich base because of increased demand from clients which was attributed to Brexit for two reasons.
He said: “First, it’s our experience that more and more expats, high net worth international investors, and German nationals who’ve been living overseas, are relocating to Munich – with many of them telling us this in in direct response to the UK’s decision to leave the EU.
“And second, many of these individuals are specifically seeking advice on certain specialist financial products, such as recognised overseas pension transfers, ahead of the official Brexit deadline of 29 March next year.”
The firm will be recruiting additional wealth advisers and support staff in the coming months. It intends to have ten financial consultants in place by the end of the third quarter.
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