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UK Based Professional Advisers with Clients Overseas

With an increasing trend of clients retiring overseas, most professional firms, whether lawyers, accountants or financial advisers, will have a number of clients who have either made the move or are planning to and this can present complications.

Most professional financial advisers pride themselves on building long term relationships with their clients who are often loath to break that relationship, even when they move abroad. The temptation may be to continue to provide advice to them, which may on occasions be acceptable, but this can be dangerous territory for all concerned.

From a financial planning perspective, the UK Financial Conduct Authority allows advisers to continue to deal with expat clients, providing they see them when they visit the UK and that advice is only given in the UK. However, there remains a responsibility to ensure that the financial advice considers all of the client’s circumstances, including their tax residency and that any solutions are compliant and effective in the country of residence. It may not always be convenient either, as clients may need interim advice and are not due in the UK for some time.

This is where the system of cross border authorisation throughout the EU comes into effect. To be able to always advise expat clients, it is necessary to comply with EU regulatory requirements. UK financial advisers can no longer achieve this through authorisation with the FCA.

ABC-EU has authorisation for all EU & EEA countries, and we provide a solution to professional associates, enabling fully compliant financial planning advice to be given.

Ideally, the new relationship should be established prior to the client moving abroad, as pre-departure planning can play a vital role in securing the best solutions. Where clients have already made the move overseas, we are still able to work with them.
ABC Europe Limited
First Floor, Unit 9/10, Riverview Business Park, Station Road, Forest Row, East Sussex RH18 5FS, United Kingdom.
Tel: +44 (0) 20 3167 0880 Email: info@abc-eu.com

The financial advisers trading under Alexander Bates Campbell Europe Limited are members of Nexus Global. Nexus Global is a division of Blacktower Financial Management (International) Limited (BFMI). All approved members of Nexus Global are Appointed Representatives of BFMI. BFMI is licensed and regulated by the Gibraltar Financial Services Commission (FSC) and bound by the rules under license number 3647.