Blacktower Financial Management (International) Ltd (BFMI) is made up of experienced consultants who offer an excellent service in wealth management and tax planning.

With more than 30 years’ experience in the market and with offices on both sides of the Atlantic, whose differentiating aspects have marked the company’s path, making it a leader in the financial sector?

All aspects are summarised in the ability to respond, with pragmatism, rationality and professionalism to the demands of the sector and customers’ expectations. BFMI is a leader in the financial sector due to the whole team being interconnected and ponders on the challenges and risks faced when operating in a complex context, within an international dimension. BFMI services differentiate itself from the others, by striving to guarantee investor confidence and not considering separately the national and international dimension; on the contrary, there are two sides to the same coin in a globalised world – take for instance the effects that the North American elections have on the global markets.

BFMI ensures that, with specialised knowledge, they can save time and resources, reassure the spirit of investors and still achieve their financial aspirations.

In which way do you ensure this professionalism with quality, taking into account the constant societal changes?

At BFMI, we are surrounded by the best professionals that the financial sector has to offer. On the one hand, we have successful senior consultants who are publicly recognised with decades of experience, with a diversified and significant portfolio. Also, we try to capture enthusiastic young people to start their journey in this sector and who demonstrate an aptitude for excellence, corresponding to the BFMI’s criteria. The strategy is to guarantee professionalism with quality, exchanging knowledge between those who are already with us for a long time and have an extensive experience in the sector, and the newcomers who bring new insights, perspectives and skills in the current context.

Solidarity is also part of the company that is well established in its principles, holding various charity events in the locations where they operate. How important is this cultivating positive relationships in communities?

We believe in the principle of solidarity as a way of is giving back to the communities of which we are a part of, giving back all the support we receive on a daily basis. Leadership by example should be governed by principle of reciprocity and gratitude. The values of solidarity and inclusiveness are pillars of our modus operandi and are passed to the communities where we operate. At BFMI, our work is based on ethics, transparency and high professional values which also applies on a personal context. The whole team feels good doing good and we already recognize these principles as part of our DNA. We wouldn’t have the success we have today if we didn’t recognize that this has generated far beyond our doors - and our borders.

The way we treat “others” has a considerable impact on our results and makes us very proud to be recognized as a solidarity company who is always concerned with all the people who follow us. In all our solidarity activities, and charity activities, whether it be professional or personal, we always feel motivated to do more and better.

As we all know the world is currently experiencing an atypical moment, caused by COVID-19, with feelings of uncertainty and insecurity which has settled in society. What has been BFMI’s role been with its clients, to ensure they feel comfortable with regards to financial investment?

COVID-19 was a shock to the financial markets globally, and it came as a surprise to both consultants and investors, having recorded the fastest correction of the US stock markets, since 1945. The initial uncertainty and concern of the customers was established around the valuation, or rather the devaluation of their asset portfolios. In this sense, our role was, from day 1, to reassure our clients and adapt their expectations to the new reality - which also included the arrival of the second wave of COVID-19, after months of some economic recovery.

Tell us a little about the special regime for Non-Habitual Residents (NHR). Is your goal here to attract to Portugal high qualified individuals or how would you assess theirlevel of interest in Portugal?

The NHR tax regime, which was introduced in 2009, has attracted many individuals of great economic value, some of which are still actively working, and others are pensioners, who have chosen the quiet and discrete lifestyle in Portugal. In reality, Portugal has acquired a reputation as being a “tax haven” amongst those who move large amounts of capital, and, therefore, look for countries where they can extract the benefits - for example, exemption of wealth taxes or inheritance taxes– which will ensure them true fiscal stability. The NHR status grants tax benefits for a period of 10 consecutive years, which in itself is extraordinary, but... being able to do so in a country that has been elected for the fourth consecutive year as the best destination in Europe at the 2020 edition of the World Travel Awards is beyond comparison!

What solutions and services would BFMI recommend for investors, considering the current fear of the repetition of a period of uncertainty and generalised fear?

In the past few months, equity markets have been recovering from months of abrupt falls, recorded in the first wave of this Pandemic. In fact, many investors took advantage of the early cash out and entered the market in a period when market prices were trending downward, a strategy that has proven extremely profitable for those who adopted it. In these moments, which bring short term uncertainty, investors should focus, as always, in the long term and trust their advisers. Periods of instability also act as periods of reflection, which involves reviewing our purpose, what strategy should you follow and how to adjust your portfolios to be aware of all possible scenarios.

In this sense, BFMI and its advisers have an important role in this analysis and and in the diversification of the investor risk, which we consider absolutely fundamental in any economic cycle, but especially the one we are in at this moment.

Blacktower Financial Management have been providing expert, localised, wealth management advice in Portugal for the last 20 years. If you are thinking of moving to the Algarve, and would like specialist, independent advice on securing your financial future here, get in touch with us on (+351) 289 355 685 or email us at