IFA Nigel Green took some persuading to leave the UK to work with expats but is now the founder and CEO of the world’s largest international financial advice firm.
Established in 2002, Green’s deVere Group is market leader in the industry, with more than 80,000 clients in more than 100 countries and $10 billion of investments under management.
And 2016 promises to become a bumper year as Nigel Green moves to reinforce his firm’s dominant market position.
“We’re in 71 different places and we’ll expand on that,” he said. “Although we are the largest in the market, there is massive potential. People do not trust their governments to look after them and realise that they have to look after themselves.
“They need good financial advice to do so, so our industry is in demand and we’re enjoying it, so I guess if you are enjoying it, why not continue to grow, look after your clients and continue to build a long term business?”
Massive opportunity overseas
Green started in financial services following in his father’s footsteps after leaving college.
“I was a looking for a career and followed in his footsteps. I was quite successful and became a manager. I then became an IFA in the UK concentrating on UK business,” he said.
“A friend of mine was working abroad and he persuaded me there was an opportunity in the international market. It took some persuasion but I eventually went abroad and was shocked the opportunity was so massive.
“Over the last 15 years I guess we’ve been lucky. The world’s become more international and we have taken advantage of the fact that people want international advice. Today, people are prepared to move their jobs and look for careers abroad.”
Over the next five years, he sees regulators tightening their grip on financial services.
“We may operate in different countries and in different situations, but more and more regulation is the most likely future for the industry,” said Green. “That’s just the way of the world today. As the industry grows, so will regulation and we have to adapt to those regulations and make sure we stay within the framework of any particular country we are working in.”
Message for investors
He also had a message for investors.
“The world’s changing. Oil prices are low and likely to stay low, although some people think they will suddenly shoot back up again. I don’t see oil prices going up and I think new industries and current industries that have gained traction from low oil prices will make even larger gains.
“I think we are going through a period when we will see low oil prices and low commodity prices continue.
“Companies will take advantage of that, I would say to clients always diversify but look for opportunities where there are low fuel costs because they are the areas fund managers will pick companies that offer better returns.”
Green was speaking in an interview with journalist Holly Thomas at the London Stock exchange.
