When is giving advice not giving advice?
Montfort International has learnt that the interests of emigrants from the UK are of increasing concern tothe UK’s consumer watch-dog, the Financial Services Authority (FSA).
The FSA regulates the UK’s financial services businesses and is now looking closely at the advice migrants and returning nationals are receiving. The financial consequences of migration are not just the concern of the migrant. The FSA is charged with ensuring that the advice you get is quality advice, which should be supplied by those competent in financial matters appropriate to UK and the destination country.
There are concerns over those foreign advisers who say they are not giving UK advice when physically standing in front of you at a migration show in this country. Migrants need advice about what to do about investments, pensions, wills and UK mortgages. The response they seem keen to supply is “leave it all until you arrive in Australia”. That seems to be giving advice. Most countries assess your situation based upon what you arrive with! How do you optimise your position? The answer is to see a UK regulated firm and ensure you leave with the right financial arrangements in place.
If the adviser is not FSA regulated then he or she is far less accountable. (One can easily check - http://www.fsa.gov.uk/register/home.do) If they are not registered, where do you stand if it goes wrong? Probably in not too enviable a position – unless you fancy mounting an international legal challenge with all the associated costs. International tax specialists, accountants and lawyers do not come cheap.
In the Inland Revenue’s adverts, Professor Simon Scharma claims “Tax doesn’t have to be taxing.” To ensure this is so for you requires sound, pre-departure preparation - not post arrival damage limitation.
For individual, expert advice from an FSA registered firm (No 181199) call Montfort International free on 0800 018 3571 or email info@miplc.co.uk
The FSA regulates the UK’s financial services businesses and is now looking closely at the advice migrants and returning nationals are receiving. The financial consequences of migration are not just the concern of the migrant. The FSA is charged with ensuring that the advice you get is quality advice, which should be supplied by those competent in financial matters appropriate to UK and the destination country.
There are concerns over those foreign advisers who say they are not giving UK advice when physically standing in front of you at a migration show in this country. Migrants need advice about what to do about investments, pensions, wills and UK mortgages. The response they seem keen to supply is “leave it all until you arrive in Australia”. That seems to be giving advice. Most countries assess your situation based upon what you arrive with! How do you optimise your position? The answer is to see a UK regulated firm and ensure you leave with the right financial arrangements in place.
If the adviser is not FSA regulated then he or she is far less accountable. (One can easily check - http://www.fsa.gov.uk/register/home.do) If they are not registered, where do you stand if it goes wrong? Probably in not too enviable a position – unless you fancy mounting an international legal challenge with all the associated costs. International tax specialists, accountants and lawyers do not come cheap.
In the Inland Revenue’s adverts, Professor Simon Scharma claims “Tax doesn’t have to be taxing.” To ensure this is so for you requires sound, pre-departure preparation - not post arrival damage limitation.
For individual, expert advice from an FSA registered firm (No 181199) call Montfort International free on 0800 018 3571 or email info@miplc.co.uk
Labels: Australian Migration, regulated advice
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