SPA Financial Services

What SPA Financial Services does

SPA Financial Services Ltd (SPAFS) is an independent, CySEC-regulated investment services boutique headquartered in Nicosia, Cyprus, with a Greek branch (SPAFSG) in Athens. Established in 2011 through a partnership between law firm Scordis, Papapetrou & Co LLC and a team of investment professionals led by Managing Director Gabriel Anastassiades, the firm operates under two CySEC licences (AIFM 53/56/2013 and Investment Firm 141/11) and complies with AIFMD and MiFID II.

The firm delivers five core service lines: Investment Advisory (portfolio consulting, structured products, alternative investments and equity financing through option structures), Asset Management (discretionary and advisory management of fund-of-funds and customised portfolios using open architecture), AIF Setup and Management (launch and ongoing administration of RAIF and other AIF structures via its Cyprus fund platform, including CAP AURA and ERKYNAS RAIFs), Brokerage / Reception and Transmission of Orders across global exchanges, and Custodian Services for transferable securities and fund units. It serves institutional investors, pension funds, sovereign wealth funds, family offices and high net worth individuals across Russia/CIS, the Middle East, Japan, South Korea, Eastern and Western Europe.

Revenue is generated through a mix of recurring advisory and asset management fees, AIF setup/management professional fees, transaction-based brokerage commissions, and custody fees. Pricing is quote-based and negotiated individually; no standardised fee schedule is publicly disclosed. Distribution is entirely direct and relationship-driven, with no intermediaries, supported by referral networks and partnerships including Ayaltis AG (Zurich) and global banks. The firm cites over $60 billion in advised alternative AUM at the management team level, $1.5 billion in advised portfolio allocations, and more than $200 million invested through SPAFS since launch.

Name

SPA Financial Services

Legal name

SPA Financial Services Ltd

Website

https://spafs.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

SPA Financial Services is a CySEC-regulated boutique investment firm offering advisory, asset management, AIF setup, brokerage and custody services to institutional investors, pension funds, sovereign wealth funds, family offices and HNW clients across Europe, the Middle East and Asia.

Ownership category

akta.pro rank

Product category

Investment Advisory & Asset Management

NAICS

Portfolio Management and Investment Advice (52394), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Managed Account Platforms (Separately Managed Accounts / Customized Portfolios) (FSAHAKAC)

akta.pro secondary industries

Fund Custody & Transfer Agency Services (FSACAHAG), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Investment advisory services
• Asset management
• Alternative investment funds
• Wealth management
• Brokerage services

Headquarters

HQ city

Nicosia

HQ country

Cyprus

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Advisory Fees: Fees for providing investment advisory services to institutional investors, pension funds, family offices and high net worth individuals, including portfolio consulting and restructuring.
2. Asset Management Fees: Discretionary asset allocation and management services focusing on diversified portfolios of managed funds, hedge funds, private equity, ETFs and UCITS funds.
3. AIF Setup and Management Fees: Alternative Investment Fund setup and management services for Cyprus regulated funds, including launch and ongoing management of RAIFs and other AIF structures.
4. Custodian Services: Custody services for transferable securities, money market instruments, and units of funds with global sub-custodian network.
5. Reception and Transmission of Orders: Brokerage services for buy/sell instructions for financial instruments across global exchanges with timely settlement.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

SPA Financial Services is an independent, CySEC-regulated investment services boutique that provides investment advisory, discretionary asset management, alternative investment fund (AIF) setup and management, brokerage (reception and transmission of orders), and custody services. It also operates a Cyprus fund platform with its own RAIF vehicles (CAP AURA and ERKYNAS) and serves institutional investors, pension funds, sovereign wealth funds, family offices and HNW individuals globally.

Product overview

SPA Financial Services is an independent Cyprus-regulated investment services boutique firm offering a comprehensive suite of investment products and services. The core offerings include Investment Advisory (portfolio consulting, structured products, alternative investments, equity financing), Asset Management (discretionary and advisory management of customized fund portfolios with open architecture), AIF Setup and Management (fund launching and administration services), Brokerage Services (reception and transmission of orders), and Custodian Services (custody for transferable securities and money market instruments). The firm operates its own Cyprus fund platform offering RAIF structures (CAP AURA and ERKYNAS) and provides access to various AIF types including AIFUNP and AIFLNP. These services are offered primarily to institutional investors, pension funds, sovereign wealth funds, high net worth individuals, and family offices, with investment relationships dating back to 1996.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Advisory

Quantifiable outcome

• Over $60 billion in alternative investment assets under management advised by management team
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Scordis, Papapetrou & Co LLC (SP & Co)coreStrategic or Co-development Partner · 1 January 2011SPAFS was established in partnership with Scordis, Papapetrou & Co LLC in 2011. SP & Co is the 100% owner of SPAFS shares and is headquartered in Nicosia, Cyprus with offices in Limassol, Athens, Malta, Moscow and UAE. The partnership brings together qualified and experienced financial and legal professionals under one group to service investors globally. SPAFS serves as the central hub for all investment needs of SP & Co clients.
• Ayaltis AG (Zurich)coreStrategic or Co-development PartnerClose collaboration with Ayaltis AG in Zurich allows SPAFS to offer a suite of fully transparent Alternative Investment products to clients. This partnership enhances SPAFS's ability to provide creative financing solutions and unique transaction opportunities.
• Global Banks (Industry Partners)minorChannel Partner/ Reseller/ DistributorSPAFS has worked in partnership with some of the global banks in the industry and developed a wide network of industry contacts, providing access to an array of information, deals and products to match clients' unique needs.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fiera Capital: Independent asset management firm providing discretionary portfolio management and alternative investment solutions to institutional and private wealth clients. Comparable to SPAFS in its independent ownership structure and focus on alternative and multi-asset solutions.
• Stonehage Fleming: Global independent multi-family office and wealth advisory firm serving HNW individuals and families. Comparable to SPAFS in its independent, advisory-led, relationship-driven model targeting family offices and HNW clients across multiple jurisdictions.
• Mirabaud Group: Swiss independent, family-owned wealth and asset management group offering advisory, asset management and intermediary services globally. Comparable to SPAFS as a boutique, family-controlled, multi-service investment firm targeting HNW, family office and institutional clients.
• Alpha FX / Ayaltis AG: Zurich-based alternative investment product provider with whom SPAFS has a formal collaboration agreement. Comparable as a boutique alternatives specialist targeting professional and institutional investors, and a real commercial partner of SPAFS.

Broad incumbents

• Lombard Odier: Swiss private bank offering wealth management, asset management and advisory services globally. Comparable to SPAFS as a private, independent, advisory-led firm but operating at much larger scale across a broader product set.
• Schroders: Global asset manager with significant fund-of-funds, alternatives and wealth capabilities. Comparable to SPAFS as an institutional and intermediary-facing investment firm, though operating at dramatically greater scale and product breadth.
• GAM Investments: Swiss-listed independent asset manager offering active investment solutions across equities, fixed income, alternatives and fund of funds. Comparable to SPAFS in its alternative and fund-of-funds orientation toward institutional investors.
• Pictet Group: Geneva-based private Swiss bank with major asset management and wealth management franchises. Comparable to SPAFS in the independent, family-controlled private banking archetype but with materially larger AUM and product breadth.

Regional players

• Eurobank Private Banking: Greek private banking and wealth management division offering advisory and discretionary portfolio services. Comparable to SPAFS as a wealth manager active in the Greek market where SPAFSG (the Greek branch headed by Lambros Zelides) operates.
• Bank of Cyprus Wealth Management: Wealth and investment advisory arm of Cyprus's largest banking group. Comparable to SPAFS as a Cyprus-domiciled investment services provider targeting HNW and institutional clients in the same local market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/spa-financial-services-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SPA Financial Services