The expansion reflects a broader shift in global wealth patterns. Portugal continues to draw international residents at scale, with foreign nationals now accounting for more than 10% of the population.

The Algarve has become a key node in that trend, attracting retirees, entrepreneurs and high-net-worth individuals seeking a combination of lifestyle, tax efficiency and access to European markets.

Behind the movement sits a bigger structural change. Wealth is increasingly international. Individuals are earning in one jurisdiction, holding assets in another and planning retirement in a third. The complexity this creates is no longer peripheral. It is central.

The new office, launched at the end of March, will be partly staffed by advisers relocating from Switzerland, bringing experience from one of the world’s most established financial centres into a region where demand is accelerating.

The move forms part of a wider strategy to position advisory teams closer to globally mobile clients.

Jake McLaughlin, Executive Director of deVere Portugal, says the shift is clear and sustained.

“More people are building lives across borders,” he says. “Income, assets and long-term plans are no longer confined to one country. That requires coordinated advice that reflects multiple regulatory and tax systems working together.”

The Algarve has evolved beyond its traditional profile. Long associated with British and northern European retirees, it is now attracting a broader mix of internationally mobile professionals and investors. Remote working, evolving residency frameworks, and continued interest in Portugal’s property market have significantly broadened the demographic.

At the same time, Portugal’s position within the European Union, combined with its regulatory environment, continues to enhance its appeal. Accessibility, affordability, and legal certainty are attracting people who need relocation support and financial structures that work across jurisdictions.

deVere Group’s scale and regulatory footprint position it within this shift. The organisation operates across multiple jurisdictions and is subject to oversight in key financial centres, a factor that is becoming increasingly important as clients seek reassurance around governance, compliance and the handling of cross-border assets.

This emphasis on regulation is not incidental. It is foundational.

In an environment where financial advice spans countries, currencies and legal systems, regulatory alignment becomes critical. Poorly structured advice can lead to unintended tax exposure, restricted access to pensions, or complications in asset transfers. The margin for error is narrow.

“Clients are not just looking for investment ideas,” McLaughlin says. “They need advice that stands up across different jurisdictions, within regulated frameworks, and over long-term horizons.”

The firm’s existing presence in Porto has already demonstrated the strength of demand. Porto has emerged as a hub for younger expatriates, supported by a growing tech sector, competitive living costs and a steady inflow of international talent. Growth there has reinforced the case for expansion into the south.

“Porto and the Algarve attract different profiles,” McLaughlin notes. “But the requirement is consistent. People need advice that reflects how they actually live, not where they happen to be at any given moment.”

This requirement is reshaping the advisory model itself. Traditional approaches centred on single-market investment strategies are giving way to integrated planning that connects tax, pensions, currency exposure and long-term wealth structuring.

Industry observers point to a sustained increase in cross-border wealth, with more individuals holding diversified portfolios across multiple jurisdictions. Portugal sits at the intersection of this trend, acting as both a destination and a base for internationally distributed financial lives.

In this context, the role of the adviser has expanded. It is no longer sufficient to focus on product selection. The expectation is for a coordinated framework that aligns all aspects of a client’s financial position, ensuring consistency, efficiency and resilience over time.

Transparency remains a central issue. Fee structures, service scope and regulatory standing are under increasing scrutiny, particularly among internationally mobile clients who may have experienced varying standards across markets.

“Clarity is essential,” McLaughlin says. “Clients need to understand how advice is structured, how it is regulated, and what they are paying for. That transparency underpins trust.”

There are also clear risks that clients are advised to consider. Unregulated operators, opaque charging models and unrealistic performance claims remain present in parts of the market. For expatriates, the consequences can be amplified, given the cross-border implications of financial decisions.

The Algarve expansion reflects both immediate demand and longer-term positioning. Firms with international reach are increasingly focusing on physical presence in key client hubs, particularly in regions experiencing sustained inflows of global wealth.

“This is about proximity and understanding,” McLaughlin says. “Being on the ground allows us to respond more effectively and to align advice with the realities clients are dealing with.”

Further growth across Portugal is expected as demand continues to build, supported by demographic trends, economic positioning, and the ongoing internationalisation of personal wealth.

It’s becoming increasingly clear that financial lives are becoming more complex, more international and more dependent on structured, regulated advice that can operate seamlessly across borders.

You can contact deVere Portugal at info@devere-portugal.pt or call +351 939530560