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Laxman Pai, Opalesque Asia: Hong Kong wealth advisory firm The Capital Company has merged with US counterparts LeoGroup and the hybrid RIA based in Dallas BFT Financial Group to create a US$4.3 billion global wealth adviser.
The new unified entity is called Leo Wealth and is expected to have a global reach with offices in Hong Kong, New York, New Jersey, and Texas.
Shareholders of each firm have ownership in parent company Leo Capital Corp., said CEO Matthew Allain who comes from Leo Group. Further financial details of the transaction were not disclosed.
"Leo Wealth unites three dynamic and influential players from New York, Hong Kong, and Dallas Fort Worth who together serve some of the world's most discerning global citizens, providing expert, personal advice on their wealth portfolios," said a joint press release.
"The rising number of high-net-worth individuals in North America and Asia-Pacific, which combined account for two-thirds of the world's high-net-worth population1, is fueling the trend for more personalized and all-inclusive wealth and tax capabilities, with demand currently unmet by the existing industry. This merger seeks to capitalize on this trend by providing unique and comprehensive solutions in both investment and tax and estate planning," it added.
The merged entity oversees and manages US$4.3 billion of assets and operates with offices in New York, New Jersey, Hong Kong, and Texas. This geographic cover...................... To view our full article Click here
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