Wealth Management Advice

When looking towards the future, we should include making plans for our financial welfare. After years of working and saving hard, your retirement should be an enjoyable time, whether you want to relax or are looking for adventure. We can plan for our future by instigating good wealth management plans and we should also plan for our children’s inheritance too. We work for ourselves and our families, so we should consider all aspects of our future financial plans.

No matter where in the world you live, getting good financial advice is vital. However, for British expats living in a foreign country, getting advice from reputable financial advisors is especially important. Expats can be affected by many different things when they move abroad. Matters such as different currencies and exchange rates can have a significant impact on their wealth management planning.

QROPS – Alternative Pension Solutions for Expats

It’s particularly important for expats to keep ahead of legislative changes and the tax laws of their new home country, especially in these turbulent economic times. While you can source information yourself through the internet, the only way to be certain you are getting the right advice is by using expert financial advisors with experience in your new place of residence. These financial advisors will be used to dealing with the specific questions surrounding the legislations and rules of your new location.

One wealth management option that directly applies to expats is the relatively new Qualifying Recognised Overseas Pension Scheme, also known as QROPS. QROPS are managed slightly differently depending on where they are sourced, but generally speaking they can provide many good tax advantages. QROPS give expats the chance to move their pensions from the UK to another country. In addition to tax benefits, investment and inheritance options can be much more positive with a QROPS and expats may find they don’t lose out through poor exchange rates too.

Regulated Financial Advisors

For effective wealth management planning, information is the key to making the best decisions for your circumstances. While financial advisors are the most reliable source of this information, you must make sure that they are authorised and regulated by the relevant authorities. Without this authorisation, you can’t be sure that your advisor is adhering to the laws of your new resident country. Always gets the best advice possible, so that you can look forward to your future knowing that your finances are taken care of.

Do you think you’re interested and wish to learn about regarding QROPS and Wealth Management? If so, please go to us.