Understanding Risk in Retirement Investing
Life is inherently risky: if we did not accept risks as an inevitable part of life, we would never leave our homes or attempt to alter or improve the circumstances which lie ahead. So, we must negotiate a certain amount of risk while avoiding the most obviously dangerous situations.
Investing for retirement in stocks, shares and other commodities is similar; we need to accept the risks. By making calculated decisions we can hopefully avoid making detrimental investment decisions.
Unfortunately, those who don't know how to invest for retirement, or those who receive bad, fraudulent or unregulated retirement investing advice, may be tempted by the promise of so-called "guaranteed" returns or unrealistically high dividends only to find that they have sacrificed their life savings for fool's gold.
MiFid II – What’s Next for Regulations?
After the announcement in January 2018 from the Malta Financial Services Authority, stating the significant pending changes to Maltese pension and MiFid regulations, both companies and advisers alike felt the net tighten around their daily practices.
The statement started one of the most significant shifts for the industry and sparked apprehension around those ill-equipped to provide fully compliant financial advice in light of the revised regulatory standards.
Five Key Retirement Questions for Expats in Spain
If you live in Spain, or are thinking of moving to Spain for your retirement, it is essential that you seek expat financial advice in order to give you the best possible chance of successfully protecting and growing your wealth.
Blacktower Financial Management has offices in Barcelona as well as Costa Del Sol, Costa Blanca, Costa Calida and on the Balearic Island of Mallorca. From these branches, our team members can help expat retirees throughout Spain take care of their wealth management and retirement investment needs.
In this guide we take a look at some key questions for expats in Spain.
Blacktower’s Nexus Fund Reaches £100m Milestone
London – July 2019: Leading wealth management provider, Blacktower Financial Management Group has announced value of £100m under its Nexus Global Solutions Portfolio. Launched in 2013 and managed by industry heavyweight, Quilter Cheviot, the funds, Nexus Global Dynamic Portfolio and Nexus Global Solutions Portfolio, were originally conceived by Blacktower Group as means to provide its clients with access to award-winning investment DFM solutions. The Nexus Solutions Portfolio is managed by David Miller, Investment Director of Quilter Cheviot.
PRR Proposals Could Place Unfair Burden on New Expats
HMRC proposals to dispense with private residence relief (PRR) could be a stumbling block for expat's wealth management plans as significant amounts of capital gains tax relief could be lost if the proposals become law. But what is PRR, and what does PRR mean for new expats?
ABI and FCA Highlight Pensions Advice Shortfall
Receiving independent, regulated financial advice on an expat retirement transfer is essential for any person who is considering the possibility of converting their existing pension scheme into a QROPS or SIPPS.
However, analysis by the Association of British Insurers (ABI) and the Financial Conduct Authority (FCA) reveal worrying trends.
In 2018, the FCA published research findings showing that during the 12-month survey period 91% of UK adults did not obtain regulated financial advice.*
Custodial Sentence for Pensions Fraudster
An investigation by The Pensions Regulator has for the first time resulted in an immediate custodial sentence for the perpetrator of professional pensions fraud, after William Bessent, an accountant who used his position as the trustee and administrator of a pension scheme to steal his clients' savings, was sentenced to 40 months in prison. He pleaded guilty to multiple fraud charges, making prohibited employer-related investments, and separate charges of acting as a director while disqualified.
The landmark case, being heard at Preston Crown Court* will also hopefully result in the return of stolen funds. On July 5 the courts will seek to obtain a confiscation order in order to make Bessent repay the remainder of the money he owes; he has so far repaid £80,000 but owes a further £200,000.
Expat Financial Advisers and Wealth Tax
The structure of your wealth and your tax affairs should always depend on the particular laws and regulations of where you reside in the world as well as the nature of your long-term goals. The expat financial services market has evolved in order to help cater to these considerations and in some cases this includes helping ensure clients meet the demands of wealth tax.
The notion of wealth tax is an easy one to understand – a tax levied on personal capital above a certain threshold or thresholds – but it is by no means universally embraced as economic good sense, not least because it often may serve only to keep high net worth individuals from emigrating to a high wealth tax jurisdiction.