The Blacktower Group’s global financial advisory network has acquired a licence to enter the US market.
Nexus Global IFA is now fully operational in the United States, with premises open for business to support its member firms.
International Adviser has reached out to Blacktower and it clarified that its US business, Blacktower Financial Management US, is directly licensed by the Securities and Exchange Commission (SEC) and it has extended this licensing umbrella to its Nexus members.
It comes in addition to the network’s insurance distribution directive (IDD) and Mifid licences in the EU, as well as additional licences in the UK and securities licencing in the Cayman Islands.
Its financial advice subsidiary, Blacktower Financial Management, is registered with the Securities and Exchange Commission (SEC) in the US as well.
But the move is only part of the group’s growth plans, said managing director John Westwood.
“Branching out to the US was the natural next step for the network; we know that our current members have desired to expand their businesses further afield and so, of course, we took the steps to acquire the appropriate licencing to facilitate the aspirations and business objectives for our firms and financial advisers,” he said.
“While our licencing reach and market presence are broad, we take personal pride in the community that we have built under the network. As such, we will always be responsive to the intentions and goals of our members and are already in late stage discussions to further expand into Australia, South Africa and UAE.”
Nexus Global IFA allows member firms to focus on long-term growth, as the network looks after licencing, commercial strategy, administration and compliance support.
It was founded by Westwood in 2011 and is a member of the Federation of European Independent Financial Advisers (Feifa).