Miami, top choice for Latin American families looking to build US footprint: Two minutes with Lowry Brescia

Lowry Brescia, Stonehage Fleming,  August 12, 2024

Miami is a hub for international families building connectivity in the country. There has been an increase in Latin American families migrating to Miami to benefit from the increased security, diversity and business opportunities presented by the US. Their reasons for migrating are many but, for some, include the need to find a jurisdiction free of structural challenges, with a stable tax regime, a strong rule of law, and a cultural affinity.

As their footprints expand, these families require specialist advice to help them navigate the complex landscape of multijurisdictional operating businesses and family assets.

Family Governance is the focal point of our Miami offering. We have a wealth of knowledge and experience from working with families for generations. Our global operational capabilities allow us to support Latin American families to manage their multijurisdictional affairs from a stable location known well to them, which boasts relative political stability compared to their home countries.

The Fleming family’s history and values are fundamental to our business. Our primary focus is on managing and protecting the wealth of the families we serve. Holding their assets is not a prerequisite for our relationships with clients. Rather, we collaborate with a family’s advisers to provide professional services and achieve the successful outcomes they seek.

Each family we assist has highly specific needs, unique to them but almost certainly familiar to us. Advisers work with families to identify what blend of our capabilities is best suited to their circumstances throughout their personal and professional journeys. We support them in their day-to-day operations as well as at strategic moments in their lives. Latin American families require a tailored approach that takes into account the differing economic priorities and legislative and political make-up between the US and their home countries.

Miami is an important nexus for Latin American families. Families from Argentina, Chile, Brazil, Colombia, Mexico and Peru will continue to immigrate to the United States over the coming years.  Stonehage Fleming in Miami is primed for the rise in demand that this represents. In particular, we expect to see an increase in demand for our family office, family governance, succession planning, wealth management, next generation and wealth transfer services. We are already seeing a growing need for international structures and the more intricate planning frameworks. It is a trend we expect to continue.

About Stonehage Fleming

Stonehage Fleming is adviser to many of the world’s leading families and wealth creators. It manages and protects their wealth, often across several geographies and generations.

Stonehage Fleming has been privileged to support its clients including the Fleming Family over several decades, in the process bringing together talented professionals to offer a range of skills and capabilities rarely found in one firm. Acting as a full-service Family Office, or working in conjunction with other trusted advisers, Stonehage Fleming is able to draw on over 40 years of practical experience helping discerning clients address the challenges of creating and preserving wealth.

Stonehage Fleming has been entrusted by its clients with the management, fiduciary oversight and administration of in excess of US$170bn.  It offers its services from 19 offices in 14 geographies.

Independently owned by management, staff and a publicly quoted family investment trust with a patient capital philosophy, its goals are precisely aligned with those of the clients they serve.

stonehagefleming.com