After successfully expanding into two new territories since 2012, Reinhard Hofer, the independent wealth management company headquartered in Austria, says it is now considering several options for its next stage of expansion.
KUFSTEIN, Austria, Nov. 4, 2016 /PRNewswire/ -- In June 2012, Reinhard Hofer opened the doors of a further analytical office in Shanghai, to add to their advisory offices in Austria and Hong Kong, which opened to much fanfare at the inception of Reinhard Hofer in December 2005. An office of market analysts in the US followed in late 2014 to continue a global expansion plan that Reinhard Hofer expects to be fully complete by 2022. "When Josef and I formed Reinhard Hofer in 2005, our primary focus was establishing a foothold in what is a very competitive arena, Asset and Wealth Management," explains Sebastian Hofer, Co-Founder of Reinhard Hofer. "We agreed that for the first 5 years at least we would concentrate solely on expanding and maintaining our core client base," Hofer continues. "So we recruited wisely, looking for people who shared our view of wealth management and the importance of the relationship between our company and our clients, and with our offices strategically positioned, we set out to make our mark." What followed was unexpected: The Global Financial Crisis. "2008 was difficult," says Simon Bale, Investment Director at Reinhard Hofer. "What's more, the crisis occurred in such a critical year for a new business, the third year. After the initial shock, we adapted and changed strategy slightly to focus more on Mergers and Acquisitions to provide security to our clients from the volatility of 2008. Once we weathered the initial storm, there were some fantastic opportunities on the market and the rest is history." Regarding the 'Reinhard Hofer Global Expansion Plan' both executives smile. "It all started at a Board Meeting in 2010," explains Simon. "The plan consists of eight offices, strategically placed to ensure our analysts have their fingers on the pulses of the main financial hubs around the world with an immediate focus on Europe, Asia and the United States." With the success of their offices in Shanghai and New York, Reinhard Hofer's attention has now turned to their next destination. "We have a shortlist of several options. By 2022 we will certainly have additional offices in Dubai, South Africa and one in South America, most likely Brazil," Sebastian Hofer reveals. "I would also like an additional office here in Europe." "As with our existing offices, each new opening will be two to three years apart and there will be no plans for additional expansion beyond eight offices. The question right now is 'Which destination will be next?'" teased Hofer.