TEAM plc (TEAM · LSE)
Managing Money for People Who Move Countries
A London-listed wealth manager that looks after money for expatriates and internationally mobile families across five regulated jurisdictions, charging fees on the assets it advises on and manages.
Bull case for TEAM plc
Fees grow with client assets and cross-selling
A larger adviser and client base increases recurring fee income, while more assets can also be allocated into TEAM’s own investment products.
Top-ranked portfolios strengthen distribution
TEAM and EPIC portfolios rank first in several Defaqto risk categories, supporting their appeal to advisers and clients.
Cross-border licences differentiate the model
Regulatory permissions across five jurisdictions allow TEAM to serve internationally mobile clients as they move between countries.
Bear case for TEAM plc
Central costs still outweigh divisional profits
Head-office costs have historically absorbed the profits the three operating divisions generate.
Buying growth means issuing more shares
Deals paid for in shares dilute existing holders and depend on integration going to plan.
Self-employed advisers can walk away
Most international advisers are self-employed, so they and their clients can leave for rivals.