Authorised and regulated by the UK’s FCA to provide investment accounts, we are bound by CASS rules to segregate and protect client assets.
Dolfin feels like a company transformed since I sat down to write my last editor’s letter. As you’ll read in our news section on page 32, in May we completed the acquisition of Falcon Private Wealth’s business, adding 300 new wealth management accounts with $800m of assets and taking our total client assets to over $3bn – a significant milestone.
Just as importantly though, 14 ex-Falcon staff joined the dynamic team we already had, spread over offices in London, Malta and Amsterdam. It’s that team – those people – that really make Dolfin stand out. They’ve proven that they have the ability to take on substantial new business despite the operational complexity involved.
Our Amsterdam team has been working hard on our technology. This quarter we launched not only a new client reporting portal, myDolfin, but also phase one of our digital CRM platform, which enhances our onboarding and compliance processes. As I argue in ‘The future of wealth management is bionic’ on page 22, wealth firms must pursue human interaction while embracing technology to remain compelling to clients and deliver digital convenience as well as investment performance.
Dolfin feels like a company transformed
Meanwhile, our colleagues in Malta have been growing our asset servicing business at a remarkable speed, responding to a hitherto unmet demand from international clients there for high-quality custody, depositary and execution. In the run-up to the FinanceMalta conference in June, which we are participating in, we interviewed Kenneth Farrugia, Chairman of FinanceMalta and Chief Business Development Officer at the Bank of Valletta. Turn to page 14 for his insight into the island’s bright future.
Although we also build technology and have expanded the breadth of our financial services to areas like depositary for funds, at heart we remain an investment firm. With this in mind, we continue to evolve our investment proposition. Starting on page 4, our Head of Investment Management, Simon Black, gives you a taste of his latest quarterly investment outlook, strategy and ideas. The big step forward is the addition of large thematic ideas: in this issue, the future of food and food sustainability.
As ever, we are driven by conversations with you – our clients and readers. We look forward to continuing the dialogue – on these pages and at our events – and being a trusted partner to you for years to come.