Brokerage Acquires Majority of Shuttered UK Tier 1 Specialist Dolfin’s Clients

Follow me on Linkedin or Twitter

Last week, we reported that London-based Dolfin Financial, once a major asset manager for UK Tier 1 investor visa clients, had filed for and been granted special administration in a UK court after finding itself unable to carry on business in the wake of restrictions placed on the by the UK’s Financial Conduct Authority.

At the time, the estate’s special administrators indicated they were looking for a “suitable successor service provider” that could take over Dolfin’s business, in whole or in part.

CityWire today reports that the administrators have come to terms with Britannia, a full-service brokerage in London, which will take over 280 of the firm’s 500-odd clients. The number of clients transferred would imply that Britannia’s AUM will rise by at least GBP 700 million.

The report also indicated a “significant number of the Dolfin relationship management, execution, and discretionary investment teams will join Britannia.”

Adam Stephens, one of the two special administrators, commented that “the deal agreed with Britannia provides continuity for certain clients, as Dolfin’s relationship managers will transfer to Britannia along with the relevant clients’ accounts.”

Kevin Ley, the second joint administrator, said clients were now receiving individual notifications of the transfer and that work would continue to find alternative custodians for those client accounts not part of the Britannia transfer.

Newsletter

Keep informed

If it matters to the investment migration market, it’s in IMI's newsletters.

Daily Brief

More From Europe

Considering the clip at which Americans have been applying this year, they are likely to place 3rd in the all-time ranking within months.
Globally, hundreds of millions of people have a great grandparent from an EU country. Too few of them are picking up citizenships for free.
To qualify for a UK Startup or Innovator Visa, applicants must obtain the endorsement of designated endorsing bodies. John Courtney explains how to get it.
 

Christian Henrik Nesheim AdministratorKeymaster

Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 16 years in the United States, China, Spain, and Portugal.

follow me