Three reasons to seek financial advice when you’re an expat in France

Written by on June 13, 2018 in Financial

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 Beacon Global Wealth 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.

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, in France in 2018 there may be changes to investment income capital gains tax and to French wealth tax changes. 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.

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 what Brexit brings, low 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

Please contact Jennie Poate if you would like a free, confidential, no obligation review of your finances at: Enquiries @ bgwealthmanagement.net; www.beaconglobalwealth.com

The financial advisers trading under Beacon Wealth Management are members of Nexus Global (IFA Network). Nexus Global is a division within Blacktower Financial Management (International) Limited (BFMI). All approved individual members of Nexus Global are Appointed Representatives of BFMI. BFMI is licensed and regulated by the Gibraltar Financial Services Commission and bound by their rules under licence number FSC00805B.

And the information on this page is intended as an introduction only and is not designed to offer solutions or advice. Beacon Global Wealth Management can accept no responsibility whatsoever for losses incurred by acting on the information on this page.

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