Australia’s Atlas Wealth to establish Singapore outpost
Australia’s Atlas Wealth to establish Singapore outpost – Atlas Wealth Management, a Queensland, Australia-based advisory business which specialises in looking after Aussie expats long-distance, is formally expanding into Singapore, with the hiring of Jarrad Brown to look after clients there as a specialist financial planner.
Brown, who is himself Australian, will remain with Global Financial Consultants, his current employer, where he has been part of its Australian Expatriate Group division, “and will continue to provide offshore advice through their licence”, according to Brett Evans, Atlas Wealth managing director.
However, Evans added, Brown is now also to be licensed through Atlas, which means that he can provide Australian advice to Aussie expats in Singapore on behalf of Atlas that is compliant with the Singapore regulator’s requirements.
Atlas Wealth estimates that there are more than 20,000 Australian nationals based in Singapore, but few advisory firms that cater specifically for them, with the result that the region “has been under-serviced for many years”.
Aussie expats have had to rely on either advice from advisers out of Australia, or no advice at all, the company said in a statement unveiling its new Singapore operation.
Evans said that appointing Brown and getting “boots on the ground” in Singapore represented “an important step in Atlas Wealth Managements’ ambition to deliver professional, quality advice to Australian expats the world over”.
“Australian expats in Singapore will now have a specialist financial planner based locally that is licensed in Australia, with whom they can discuss their financial circumstances, and understands their circumstances as an Australian based overseas,” he added.
In a statement, Brown said Atlas provided an “excellent fit” with Global Financial Consultants’ team. Being an Aussie expatriate himself and having trained in Australia as well, he said he is well-placed to recognise “the specialist needs of Australian expats abroad”.
‘First Australian firm for expats’
Atlas Wealth lays claim to be the first Australian financial services firm set up solely to provide financial services and advice to Australian expatriates.
According to Evans, Atlas Wealth evolved out of a strong demand from Australian expatriates who wanted a financial planner whom “they could trust back in Australia” to look after their investments and superannuation while they were abroad.
Evans was quoted in a story in International Investment‘s April issue, about “reaching out to the Aussie diaspora” as saying how he is often amazed at the poor advice some of his new clients have received previously during their time abroad. “I reckon that 70% of what we do at Atlas is educate,” he said, in a story which may be viewed by clicking here.
“The other 30% is execution.”
This article originally appeared in a interview with International Investment.