As a result, robo-advice was developed. Do you think it sounds like science fiction? Well, major financial institutions are starting to get in on the action. Royal Bank of Scotland recently announced that 220 of its staff could be replaced by robo advice. The trouble is, there are concerns that all investors could be placed in too broad an investment strategy that does not adequately cater for their investment needs or take into account their tax position, such as a likely inheritance. In addition, the existing online advice propositions still require investors to do a lot of decision making, such as picking which funds they want to be invested in.
In Spain you are lucky as you still have the opportunity to see a financial adviser without having to pay an up-front fee, thus rendering the service available to everyone. In these worrying and bewildering times it is essential – if you want to make the most of your money – to see a professional to give you guidance.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
I recently attended the British Embassy Outreach Meeting in Perigueux and as you can imagine there were a lot of disgruntled expats wanting answers that, frankly, aren’t really available right now. Understandably, for many living through the turmoil and uncertainty of Brexit, there is a lot to take into consideration and some may even be contemplating moving back to the UK.