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Blacktower Ready to Respond to New Challenges

Passporting Concerns

The Financial Conduct Authority recently stated that it was working with the government and the Bank of England to try to achieve a solution that would allow UK-interested wealth management and cross-border financial advice clients to “continue to be able to access global market infrastructures established in the UK after Brexit”.

Part of this strategy is allowing a temporary passporting arrangement for EU firms to carry on regulated business in the UK even in the advent of a no-deal Brexit. Similarly, it hopes to achieve a situation in which UK-based wealth management firms can be passported to work in EU jurisdictions in the event of a no-deal scenario.

Blacktower, Established and Innovative

The Blacktower Group began life in 1986 and since then has been providing world-class independent wealth management advice and bespoke financial services to its clients.

Over the course of this time we have established our reputation while continuing to innovate. For example, around two decades ago, Blacktower began its offshore expansion when it opened its first office in the Algarve, Portugal.

In 2003, Blacktower Financial Management (International) Ltd (BFMI) was formed and incorporated in Gibraltar. Since then we have continued to expand our international operation across the EU and the world, including our Caribbean Office in Grand Cayman and offices serving America.

We have our ears to the ground and our fingers on the pulse, while always keeping an eye on the future. We remain committed to staying abreast of and responding to every regulatory change and challenge that comes the way of us as a firm and our clients, including those relating to Brexit.

With our knowledge and expertise we can save you time, money and bring you peace of mind as the UK and the EU enters a new chapter.

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

Making 2016 financially secure

For so many, the new year brings new resolve to look into long-term financial plans; plans, perhaps, that have been neglected or put to the back of the mind in the year just passed.

It’s a busy old time of year for IFAs (independent financial advisers) because each January we see customers taking stock and seeking advice. This is a good thing, but it takes decisiveness and a certain amount of nerve to finally grasp the nettle and put plans into action.

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Pension Tracing Service

PensionsSince the Pensions Freedom Act came into force in the UK, in April 2015, there has been a huge outflow of money from defined benefit pension schemes and personal pensions in the UK. Many people have taken advantage of the new flexibilities by having control of their own pension pots.

However, it’s becoming increasingly difficult to transfer from some schemes now, as hurdles have been put in place by some providers.  It is true that these hurdles ensure that individuals are not transferring their pots to unauthorised schemes, but they also act as a “double check” that the advice provided about the pension transfer is from a qualified Independent Financial Adviser (IFA).

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