France-based wealth manager Levitt Capital Management has opened its first New York office, the company announced Monday.
The Rockefeller Center office will serve as a U.S. base for the company, helping it meet with prospective and existing clients, according to Levitt Capital Management. The wealth manager has its headquarters in Nice in the South of France, and works with U.S. citizens who relocate to the other side of the Atlantic.
“Americans who relocate to Europe have uniquely complex financial needs, which advisers on either side of the Atlantic are ill-equipped to understand and address,” said Robert Levitt, founder and chief investment officer at Levitt Capital Management, in a statement.
“We receive multiple enquiries every day from Americans who have realised that their portfolios, wealth structures and succession plans, which were designed for a US environment, simply don’t work in Europe, and that nobody else truly understands the complications faced by clients whose lives span both sides of the Atlantic,” he added.
The population of Americans living in France isn't small. The Association of Americans Resident Overseas estimates that, in 2023, there were 117,462 Americans living in France. However, the United Kingdom is the European country with most American expats – an estimated 325,321 according to AARO, while Germany has 238,652.
The wealth management industry has seen a number of transatlantic developments in recent months. Last month, RIA Moneta Group Investment Advisors expanded its operations to the other side of the pond with the opening of a U.K. office to serve U.S. expats and overseas family offices.
Last year U.S. wealth manager Corient announced the addition of Stonehage Fleming and Stanhope Capital Group. The move aims to expand the company’s global reach and establish a presence in Europe, the Middle East, and Africa. In June, Miami-based Corient announced the completion of the acquisitions, which at the time vaulted the company’s global assets to over $500 billion.
Also in June, Wealthspire’s Ground Control Business Management division acquired Arena Wealth, a business management firm that serves professional golfers in the U.K. The deal marked Ground Control’s second U.K. venture after its purchase of Clay GBP in October 2024.
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