8 Financial, Legal & Accounting


22ND APRIL 2024 BUSINESS GUIDE DISTRIBUTED WITH


For the first 50 clients from


£250,000, exchange fees are waived


Discover a well-kept secret — how currency brokers negotiate the best exchange rates


Based in London, Aurum Private Office specialises in serving an international private


clientele


looking to buy or sell real estate or yachts from abroad to France or the United Kingdom. Its founder, Maxime Guibert, a former propri- etary trader experienced in corpo- rate forex trading floors, decided four years ago to grant HNW and UHNW clients access to profes- sional tools to maximise their exchange rates and cover risks when transferring amounts over £1m to another country. “Tere’s nothing worse


than a


good rate at the wrong time,” says Maxime. He argues that the real issue isn’t the fees, but the timing. Hence the benefit of working with a private broker, since banks have no interest in helping as the money definitively leaves their funds under management, and other brokers are merely trying to meet their sales targets. Another vital point for the founder of Aurum Private Office is the service. Aurum’s clients often purchase secondary or tertiary homes. Service is therefore a much more crucial aspect than the exchange rate itself, as Aurum’s clients are often very busy profes- sionally or need to manage different time zones and currencies simul- taneously. Speaking both French and English and having grassroots experience because its founder is French allows Aurum to offer unpar- alleled fluidity and proactivity to clients. “We usually always know the local notary and the corner bakery. Choosing between ‘pain au chocolat’


or ‘chocolatine’ is very important for vacations; you can upset a French person by making a mistake with the name of something depending on where you are and have a very bad trip!” jokes Maxime. Technically speaking, Maxime


reveals that the best rates don’t exist because each broker is free to choose the fees they apply. “Te fact is, a pound or a dollar looks the same to everyone!” he says. Tat’s why Aurum Private Office chooses to play the long game with its clients by going beyond simply offering advantageous


exchange rates,


such as providing tax support, help obtaining a mortgage or reducing notary fees. Tis allows the company to stand out from the typically prev- alent ‘spot’ commercial approach on the market, according to Maxime. With its unique market vision,


Aurum Private Office has managed to attract HNW and UHNW clients, including US rappers, athletes, TV show presenters, corporate execu- tives from publicly traded compa- nies and entrepreneurial families. Tis has come as a pleasant surprise given that the currency broker market usually involves clients for transfers of less than £140,000 on average, while Aurum Private Office boasts an average transaction size of £2.24m. Due to the higher than average transaction size, Maxime explains that the time spent per client is automatically higher since there’s only one compliance process to conduct. Tis guarantees a user experience truly incomparable to other market players, including


private banks. As Maxime explains, “We don’t just offer good exchange rates because we’re nice. We offer the best rate because we bet on a long-term relationship with our clients and our prescribers.” From there, Aurum acts more like a ‘finan- cial concierge’. Te best part is that account opening is currently avail- able from £250,000. Aurum recently


facilitated a


multi-million euro painting sale estimated by Sotheby’s and Chris- tie’s International. Its strength was its ability to handle atypical transac- tions and its discretion since banks refuse to do so. Working directly with markets regulated by the FCA and HMRC gives it unmatched flexi- bility compared to high street banks. Another example of why working


with Aurum is so beneficial — a client was busy and couldn’t recall the exact amount he needed to pay for the deposit on a villa in the South of France to secure the transaction. Maxime already knew the notary and called in French to confirm the amount and bank details while the client slept due to the time difference. Aurum was able to pay the deposit on time, and the client was, of course, delighted with this proactivity. With its established network,


Maxime is now developing a busi- ness network reserved for CEOs and entrepreneurs in London, in part- nership with an English lord and the most exclusive private clubs to ensure business synergy around the French art de vivre. Only certain clients meeting the eligibility criteria will become members, while


other applications will be received only on recommendation. For any information and eligi-


bility verification requests, contact Aurum Private Office via its website and fill out a contact form.


aurumprivateoffice.com MAXIME GUIBERT


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