“It’s an exciting market, if you consider the number of former British domiciles” in the U.S., estimated to be as many as 1.5 million people, Alderson said. “Many have assets left behind in Britain.”
Although more than half of deVere USA’s clients are British, the firm handles all nationalities, he said, including Americans who’ve worked overseas and have assets abroad.
“Our strength is cross-border planning issues for people who have assets” in multiple countries, Alderson said. “They need to figure their tax reporting, tax liability and where taxes are due.”
The firm works closely with outside tax experts to manage assets efficiently, he said.
Advisor recruiting is done mostly by word of mouth, Alderson added. U.S.-based employees are split about 50-50 between Americans and Brits.