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Are you willing to turn to ‘robo-advice’?

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.

Other News

Abandoning the ‘Lottery Mentality’

Lottery ticketNearly everyone dreams of winning the lottery and sailing into their sunset years of retirement aboard a superyacht of financial freedom and security. The problem is, however, that simply buying a lottery ticket is very unlikely to result in anything other than the needless spending of your hard-earned money.

In fact, when you buy a Euromillions ticket your chances of winning the jackpot are just 1 in 139,838,160* – you are almost certainly more likely to be struck by lightning or involved in a road accident while on the way to buy your lottery ticket than of winning the jackpot.

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Brexit Minister Provides Assurances of “Cooler Heads”

Pension fileThe government has provided further reassurance on the future of expat pensions and other financial products and services post-Brexit, with Brexit secretary Dominic Raab dismissing a Department for Exiting the EU technical paper which had appeared to cast their futures into doubt.

During a press conference, Raab had no hesitation in saying that access to expat pensions was little more than “a practical issue that we will be able to resolve”.

Raab’s statements were measured and entirely unflustered by some of the more recent sensationalist pronouncements on the subject. For example, he carefully explained that although a no-deal Brexit would have an inevitable impact on Britain’s contractual arrangements with EU member states, it was extremely unlikely that individual country to country relationships would suffer.

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