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Non UK Citizen Advice

Redawg31Redawg31 Member
in Technical stuff

HI, I am just drawing up our overseas client policy.

Currently we are advising foreign nationals who are UK resident and I think this is ok, but no matter how much I look I just can’t fund any legalisation on it. Is this out here somewhere, all i can find is on passporting etc.

please help!

Thanks ever so much.

Andrew

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Comments

  • TomLloyd_ReadTomLloyd_Read Member

    Hi Andrew

    I don't think there is anything to prevent you advising overseas clients who are UK resident, so you probably won't find any legislation.

    Clearly there are issues around non-UK resident clients, although the things I have read are mostly concerned with soliciting clients overseas (or reverse solicitation which might be OK) but don't often touch on the grey area of former UK resident clients who now live overseas. This really isn't straightforward and given the types of clients we deal with across the wider business, are currently in the process of obtaining legal advice.

    I am hoping it means we need to open a financial planning branch in our existing Malta office and I can be seconded for a few months to help set it up!

    Good luck!

    Tom

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  • DanAtkinsonUKDanAtkinsonUK Member

    I had some involvement in our overseas client policy. Definitely speak to your PI insurers about their thoughts (i.e. will they cover you and will the cost go up!). From a planning perspective make sure you are definitely sure about the impacts that their citizenship might have - especially US... Lots that can unintentionally go wrong - you don't know what you don't know.

    Dan Atkinson FPFS CFP APP Chartered FCSI
    Chartered Financial Planner
    Certified Financial Planner
    Head of Technical at Paradigm Norton

    Twitter: https://twitter.com/danatkinsonuk
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