After 30 years in business, a private wealth management company has grown its assets under administration to more than $1.7 billion.

Scott Lines, CEO and chairman of LOM Financial, said that despite the pandemic and other global events in recent years, LOM has experienced significant growth.

He said: “We have a positive outlook for the future and are actively recruiting talented team members, while remaining committed to providing the high-level personalised service and superior performance that we are known for. We look forward to the next decade of innovation in this rapidly changing industry.”

Founded in Bermuda in 1992, the private wealth management company now has a team of more than 40 employees and an international presence with headquarters in Bermuda and offices in the Bahamas, Caymans and the UK.

He said: “We are proud to reach this milestone of 30 years, and it is certainly a testament to our dedicated team as well as our loyal clients. Relationships are at the core of our business and our success is in large part due to the trusted, and in many cases longstanding, relationships between our investment advisers and our clients.”

LOM was awarded the 2021 Global Banking & Finance Review Award for Best Wealth Management Company in Bermuda.

It recently launched a new logo, website and brand purpose with a focus on ocean conservation.

And as it celebrates three decades of business, LOM Financial Group will mark its 30th anniversary by making $30,000 in financial contributions to maritime-related non-profit organisations over the course of the year.

LOM has committed to providing support to non-profits in each of their operating jurisdictions: BZS (Bermuda), The Humpback Whale Project (Bermuda), BREEF (Bahamas), The Guy Harvey Ocean Foundation (Cayman) and the Marine Conservation Society (UK).

Chief financial officer Malcolm Moseley, who has been with the firm for 29 years, said: “We have a stellar team which always makes for a successful business model. The majority of the management team have been with LOM for over 20 years. As they say, a company is only as good as its people. All that we have achieved is a definite testament to our team.”