There are a number of different ways to engage in the services of investment advisors based in the Cayman Islands, either through the local office of a global firm or the asset management group of a local financial institution.
A local investment advisor will be able to offer expert investment guidance on a personal one-on-on basis in the resident’s time zone. He or she will also be familiar with the asset allocation and types of investments that are appropriate given the resident’s tax status.
Most of the retail banks in Cayman have a full range of financial services, and there are an increasing number of specialised financial institutions that advise individuals who are looking for private banking or wealth management facilities. Brokerage firms in Cayman offer a wide range of client accounts and a full suite of products.
For example, there is ready access to the full spectrum of offshore hedge funds and funds-of-funds, with choices ranging from low volatility funds to those which are aggressive and specialised. There is access to a wide range of interest bearing securities, structured notes (including equity-linked notes), step-up bonds and Eurobonds denominated in multiple currencies.
Investment accounts that are designed to receive monthly contributions are not very common because deferred tax planning is generally not necessary. However, a number of the larger retail banks and brokerage firms can structure traditional brokerage accounts to receive monthly contributions and to invest those contributions in a portfolio of mutual funds.
There are a number of regulated wealth management firms based in the Cayman Islands that offer securities brokerage, along with investment advice and discretionary management services. Most financial institutions offer products and services to meet the needs of investors of all sizes. We recommend contacting a couple of the following companies to discuss your range of options and their minimum requirements. Some of the leading organisations offering wealth management solutions are listed here:
LOM Financial Group
An award-winning publicly-held, international financial services company, providing a complete range of private investment services and products.
International Financial Planning (now Proven Wealth (Cayman) Ltd)
IFP provides a wide range of financial planning services, premium savings products, investment solutions and retirement programmes.