Blacktower Financial Management has secured a full licence from the Dubai Financial Services Authority (DFSA) in the Dubai International Financial Centre (DIFC) in what it described as a "landmark achievement in its global expansion strategy".
In a statement on 8 January, the international wealth manager group said the full DFSA licence "marked a crucial step in Blacktower's history, demonstrating the company's capacity for comprehensive compliance and its capability to offer a wide range of financial services in the Middle East".
Blacktower also announced the establishment of licensed insurance agency Blacktower Insurance Services, LLC in the US state of Orlando, which it said was "a vital addition to the company's North American operations".
Over the past year, Blacktower said it had made key hires and pursued proactiveexpansion strategies to cement its presence in the US market.
John Westwood, group chairman at Blacktower FM, said: "Securing the full licence in Dubai and expanding further in the US market reflects Blacktower's unwavering commitment to global excellence. The company is at the forefront of providing tailored financial solutions, and its strengthened presence in the Middle East and its expansion in the US are a testament to Blacktower's strategy of delivering unparalleled financial advice and services across borders."
Blacktower further said the addition of these two new licenced entities within the Blacktower Group "cements one of our core global objectives of becoming the leading international wealth management company with the ability of delivering a fully licenced global reach".
Gavin Pluck, Blacktower's group managing director and DIFC SEO added: "Blacktower's growth is driven by a deep understanding of its client's needs worldwide. This is not just about business expansion; it's about reinforcing the trust Blacktower has built with its clients
and paving the way for future innovations in the financial sector.
"Together with our extensive licensing footprint, the new DIFC entity will afford us the perfect opportunity to provide fully holistic and seamless cross-border solutions in highly regulated international markets, which can often be restrictive to many advisers. We therefore find
ourselves in a relatively unique position with the ability to advise our UAE clients on their assets locally and in other regulated jurisdictions, including the UK, EU, USA, Switzerland and Australia."
