What does the post-Brexit landscape for UK Asset and Wealth Managers look like?
The UK has officially left the EU and entered a transition period until the end of the year, but the bottom line for AWMs has not changed: at the end of the transition period, or following a no-deal Brexit, the UK becomes a third country for regulatory purposes. UK firms will lose the passporting rights that currently allow them to distribute financial services into the EU single market or establish a branch in the EU.
Whilst certain EU legislation contains third-country equivalence provisions, the UCITS directive does not provide for any third country equivalence, and the provisions under AIFMD have not yet been activated.
As a result, post-Brexit UK Asset and Wealth Managers will not be able to act as management company for EU-domiciled UCITS and AIF products (except under limited transitional relief measures) and will need a permanent solution.
ONE Group Solutions, a fully licensed third party Management Company and AIFM, will customise a Brexit solution for you ensuring your continued access to the EU single market.
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We operate around the principle that if our people have a stake in the business, they will do a better job for our clients. We have a committed and stable team, as they see the benefit of long-term value creation through building long-standing relationships. We build value for clients, and their end customer.
You can have the best technology and the most efficient processes in the world, but if you don’t have the people to operate them, your business is worth very little. Thus, our biggest asset is our team of professional and passionate experts.
We operate next generation technology through a combination of in-house, and best in market solutions to deliver an impeccable service and use technology to excel in both service delivery and efficiency.
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