Whether you’re already in France or you’re considering a move to France, it’s natural to have worries and fears about your financial future. Research shows that you’re likely to gain peace of mind and to be significantly better off if you get professional advice about your long-term future financial goals and requirements.
A study by the International Longevity Centre in July 2017 revealed that those who take financial advice could end up significantly better off, by as much as 39%, than those who don’t.*
We asked Jennie Poate at ABC-EU for three reasons why she feels consulting an independent financial advisor is necessary to help you plan for your long-term future in your new country.
Sort out all aspects of your finance
There are a number of things you can do before you make the move that will mean you are in a better financial position once you arrive in France. A financial advisor will help you sort out your UK tax position, plan a strategy for savings and income, consider inheritance planning and advise how to make your pension work best for you. Sorting it out before you make the move can be crucial to good finances and less stress along the way!
Find out about changes that may affect your finances in advance
As a qualified financial advisor in France, it’s my job and that of my team to keep on top of new developments in the finance world that affect expats and to keep helping our clients make the most of their opportunities and finances.
For instance, recent French wealth tax changes means that certain investments are now discounted as part of the calculations.. We study the changes in detail and explain them in plain English and we will look to make recommendations to protect your assets and maximise your savings and minimise your tax liability. Being in touch with you on a regular basis means we keep you up to date with changes that might affect you.
Low interest rates may affect your financial future, especially if you maintain funds in the UK where if you’re leaving your savings in instant access accounts you’re likely to have seen your money fall in value due to rising inflation and low interest rates. If you want to earn an income from your financial assets, a good financial advisor can help you assess the alternatives.
For some investments you may have to be prepared to accept a risk but we’ll advise you on all aspects of what risk there is so you can make an informed decision.
Avoid unpleasant surprises
You’ll gain clarity and greater confidence about your financial assets. Uncertainly about the ongoing Brexit fallout, changing interest rates, rising inflation – they all have an impact on our lives, especially expats where there’s also the added confusion about how banking, tax and finance works in a foreign country.
* Source: The Value of Financial Advice, International Longevity Centre – UK
If you’d like to find out more or have questions about how to maximise your investments, contact Jennie for an obligation free consultation at: jennie@abc-eu.com
This communication is for informational purposes only based on our understanding of current legislation and practices which is subject to change 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.
ABC-EU are members of Nexus Global (IFA Network). Nexus Global EU is a division of Blacktower Financial Management (Cyprus) Limited (BFMCL) and Blacktower Insurance Agents & Advisors Ltd (BIAAL). ABC-EU is an Appointed Representative of BFMCL which is licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC) – Licence No. 386/20. ABC-EU is an Appointed Representative of BIAAL which is licensed and regulated by the Insurance Companies Control Service (ICCS) – Licence No. 5101
