Yes, we DO sell you something – Peace of Mind!
In a world where our financial stability impacts almost every aspect of our daily lives, it is more important than ever to preserve what we have worked so hard to achieve. Unless you're lucky enough to win the lottery, most of us have worked hard and for a very long time to achieve financial security and the lifestyle we want for ourselves and our families in retirement.
We all remember Robert Maxwell and the Mirror Group pension scandal in the early 90s when innocent working people woke up to the horror that their pension contributions had been used to subsidise his failing empire. The same happened when "Sir" Philip Green sold BHS for £1 in 2015, and this confirmed that even some of the biggest household names cannot be trusted with our retirement funds and financial future.
Income or Lump Sum? The Life Plan Conundrum
Effective wealth management is about many things but it can perhaps be boiled down to two essential elements: protection and (or) growth.
Whether you prefer to emphasise protection or growth will depend largely on your circumstances, goals, and attitude to risk. One part of this is determining whether you want your investments to create the security of income or the flexibility and reinvestment potential of a lump sum.
Investors are typically split around 50-50 on this question, which is why it is no surprise to learn of a recent Aegon survey of 1,300 investors which found that 58% preferred insurance plans to pay monthly income rather than a lump sum at maturity.
Essential Cyber Security Tips for Online Safety
Financial Advice for UK Expats in Cyprus: A Comprehensive 2024 Guide
At time of writing, Brexit ‘negotiations’ are ongoing with a matter of weeks remaining before the UK’s exit from the European Union. All UK firms operating in the EU will be impacted and that includes those providing financial services also.
So how does this affect Cyprus residents and your relationship with financial services providers in the UK?
Assuming the UK leaves the EU without a withdrawal agreement by 29th March then UK financial advisers will be unable to service their clients who are resident in Cyprus and all other member states outwith the UK. This is because UK firms have previously been able to ‘passport’ their services across the EU. If there is no deal then such passports will effectively be torn up.
Navigating the Future: Six Pivotal UK Pension Changes in 2024
Cayman Islands Wealth Management: Financial Prosperity for Expatriates
The Cayman Islands or “Cayman” consists of three islands; Grand Cayman, Little Cayman and Cayman Brac. They remained mostly uninhabited until the 17th century. The earliest settlors consisted of pirates, refugees, “lost at sea” sailors and migrants from other neighboring islands. In 1670, England gained control of the islands which remains a British Overseas Territory to this day.
China’s Investment In Cayman Islands Financial Services Sector Continues
The Cayman Islands has signalled its intention to invite greater Chinese investment opportunities following recent corporate events in Asia in which Cayman Finance CEO Jude Scott spoke about the potential for increasing collaboration.
While attending events in Shanghai, Beijing and Hong Kong, Scott, whose organisation is charged with protecting, promoting and developing the Cayman Islands' financial services industry "through cooperation and engagement with domestic and international political leaders, regulators, organisations and media", spoke of how The Cayman Islands could use their status in the wealth management industry to benefit Chinese investment.