The vision of Marlen López, Senior Wealth Advisor and Founding Partner of Excelsis Global Private Wealth, on the offshore U.S. advisory industry has been shaped by her experience at major firms, her entrepreneurial journey, and her ability to interpret the trends that have defined this business.
López began her career at JPMorgan Chase, where she learned how to build strong, lasting client relationships, developing a skill that would become the backbone of her professional path. However, it was during the Great Recession, when she transitioned into a new role as a financial advisor, that her career reached a turning point.
“My transition to Merrill Lynch during this period of intense market instability represented a transformative challenge. I took on the responsibility of supporting families and high-net-worth clients as they navigated economic uncertainty, refining my ability to design resilient wealth strategies and build deep, trust-based relationships,” López recalls.
The Courage to Be Entrepreneurial
Although she later continued her professional development at firms such as Wells Fargo Advisors, it was not until 2021 that, together with four other independent global wealth management teams, López brought her project, The Lopez Private Wealth Group, into the creation of Excelsis Global Private Wealth, in partnership with Sanctuary Wealth.
“The relationship I had cultivated with the founders of Sanctuary Wealth during my time at Merrill Lynch was key to this transition. Their confidence in our mission and vision allowed us to collaborate in developing an independent, boutique model designed to exceed the expectations of our high-net-worth clients. Sanctuary Wealth not only shares our philosophy, but also provides a comprehensive platform that includes products, technological innovation, and operational support, allowing us to focus on delivering truly personalized, world-class service,” she explains.
Regarding her business decisions, López’s assessment is clear: “The Lopez Private Wealth Group represents the commitment to excellence that has always guided me. Our mission is to deliver top-tier financial expertise, personalized service, and innovative strategies that create value at every stage of life and across every generation of the families we serve.”
An Environment of Consolidation
That mission remains unchanged, even within a business landscape marked by strong consolidation, increasing sophistication, and a redefinition of the advisory model. In her view, these three dynamics are unfolding simultaneously and intertwining to shape a new era in the wealth management industry.
“Consolidation is reflected in the rise of independent models and RIAs, which offer advisors greater autonomy and competitiveness. More advisors are migrating toward models that allow them to operate with greater independence and control over their practices, whether by partnering with platforms like Sanctuary Wealth, which offer flexibility without sacrificing access to high-level tools, or by building their own models from the ground up,” she states.
For López, sophistication is evident in the growing demand for comprehensive, highly personalized services similar to those of family offices—once reserved exclusively for the ultra-wealthy and now extending to a broader client base. “Finally, the redefinition is being driven by demographic, technological, and cultural shifts, such as the generational transfer of wealth, which requires advisors to adapt to new expectations around personalization, advanced technology, and human connection in order to retain key assets,” she adds.
Industry Trends
Over the years, she has observed a significant shift in the profile of offshore clients, driven by a combination of geopolitical uncertainty and generational change. “One of the most notable trends we see is the increasing sophistication of clients, with a clear focus on multigenerational wealth planning. This evolution is largely due to geopolitical instability in many of the countries we serve, which has heightened demand for expert guidance to navigate the uncertainties clients face daily, not only in their home countries, but globally,” she explains.
At the same time, she notes that as these challenges have intensified, so too has the need for robust portfolio strategies that provide clients with a sense of security and peace of mind. “In times of uncertainty, clients are highly focused on protecting their wealth and ensuring the long-term financial stability of their families. They rely on us as trusted advisors to help them build and safeguard their wealth in ways that address not only what is within their control, but also mitigate risks arising from external factors beyond their reach.”
Another significant shift has been the emergence of a younger, more technologically savvy generation stepping into leadership roles within the families they serve. “The evolving profile of offshore clients reflects a combination of global uncertainties and generational transformation. This has amplified the need for knowledgeable and adaptable expert teams capable of guiding clients through these complexities,” she affirms.
Within this broader industry transformation, the strength of the client relationship remains a cornerstone of successful business practices, particularly in the offshore market. In López’s view, trust, transparency, and ongoing education are critical components in building and sustaining that bond.
“While platforms and technology can enhance efficiency, streamline processes, and provide valuable insights, human connection and the ability to genuinely understand and address a client’s needs are irreplaceable. These relationships are cultivated through consistent communication, delivering on commitments, and honesty, qualities that foster loyalty and long-term partnerships. It is the fusion of people-centered values with platform-driven capabilities that creates a dynamic and impactful client experience,” she emphasizes.
Looking Ahead
When asked what she expects from the industry in the coming years, her message is clear: wealth management will undergo significant evolution driven by personalization, technology, and shifting client expectations. “Clients, regardless of their wealth level, demand highly personalized services similar to those offered to ultra-high-net-worth (UHNW) individuals. Advanced technology, including AI, predictive analytics, and digital platforms, will streamline operations, but human connection and ‘white-glove’ service will remain irreplaceable,” she argues.
As she notes, a key development, highlighted by Adam Malamed, CEO of Sanctuary Wealth, is the democratization of the family office experience: “Firms will expand access to high-level holistic services, such as multigenerational planning, family governance, and financial advisory, making them available to a broader range of clients.”
She also underscores that significant intergenerational wealth transfers highlight the need to connect deeply with future wealth holders, aligning services with their values, such as interest in ESG investing. In this context, she maintains that firms that cultivate a strong cultural identity and entrepreneurial flexibility will attract both advisors and clients, ensuring resilience and growth in a competitive environment. “To thrive, firms must embrace innovation while prioritizing relationship-building, constantly evolving to meet client needs. Those that fail to adapt risk losing relevance in this transformative era,” López insists.
Her main conclusion regarding the offshore business is that “while it faces challenges such as geopolitical uncertainty stemming from trade tensions, changes in immigration policies, and perceptions of protectionist measures by the United States toward Latin America; as well as strict regulation (KYC/AML) requiring longer and more complex processes to ensure global compliance and combat illicit activity; and tax complexities related to withholding taxes, succession laws, and legal structures that may be confusing for foreign investors—it remains highly attractive to Latin American investors seeking refuge, diversification, and growth in a stable, secure environment with access to liquid markets and unique opportunities.”
She emphasizes that “to capitalize on these opportunities, clients and advisors must adapt to changing conditions, prioritizing transparency, regulatory compliance, and delivering an innovative, highly personalized approach that responds to modern market demands.”
