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One of the world’s largest independent financial advisory organisations is to reopen offices in Mallorca, it has today been confirmed.

deVere Group, under the deVere Spain brand, is to launch imminently in Portals Nous, a stone’s throw from the island’s most glamorous marina. The office will be headed by Team Leader, Michael Jacobs, who will report directly to deVere Spain’s Senior Area Manager, Andrew Oliver.

Jacobs is relocating to Mallorca from Milan, where he spent 10 months with deVere Italia as Senior Wealth Manager.

deVere previously withdrew from the Mallorca market several years ago due to recruitment issues, which have now been overcome,. Indeed, it is already proving to be a popular destination for talented financial advisers seeking to work with high net worth clients.

Much of Jacob’s focus will be on the vibrant yachting community in and around Portals Nous and Palma. Jacobs has an intimate personal and professional knowledge of this market, being an expat himself for many years and having lived around some of the world’s best-known ports and marinas. He will be well-placed to know the major financial opportunities and potential challenges that exist for internationally-focused investors.

For his part, Jacobs, affirmed:

“On a personal level, it’s fantastic to be on this perennially popular island that I’m passionate about and working with those in Mallorca’s booming yachting sector. With already high demand and with it being on an upward trajectory, we will be looking to recruit some talented financial advisers, and ambitious graduates who are looking to start a rewarding career, to join the team here in Mallorca.”

In December last year, Nigel Green, deVere Group founder and CEO noted:

“[In 2019] we will be rolling out an ambitious horizontal and vertical growth strategy. The strategy will further galvanise our position as the dominant global firm within the international financial advisory industry.”

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

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