Skybound Wealth Management said in a statement on 1 April that it had received direct authorisation in the European Union following approval by the Cyprus Securities and Exchange Commission (CYSEC) and by Insurance Companies Control Service (ICCS).

The announcement follows its expansion into the Australia advice market last month. 

Regional director Europe Peter Gollogly said: "Over the last 18 months, we have strengthened all support functions as well as making significant upgrades to both our client and advisor proposition. 

"Becoming registered directly in Cyprus allows us to provide advice within the European Union region and is a natural progression. 

"Since Brexit, the way advice firms operate has changed significantly with firms either adapting or exiting the market. With many choosing the latter, Skybound Wealth are well positioned to fill the void with high quality, regulated international-focused financial advice."

The international advice firm highlighted that it already has a long-established presence in Switzerland, and the combination of the CYSEC and IDD licenses would enable "solutions and advice across European Union countries having already received approval from local regulators in countries such as Spain, Portugal, and France".

Skybound has operations in Switzerland, the UAE, the US, the UK, and Australia.

Gollogly added: "Such global coverage means as international workers approach retirement, whether they repatriate back to the UK, from the Middle East to Europe or vice-versa, as a Skybound Wealth client they may look to receive a continuous service when it comes to their investments."