Our Principles

Being a fully regulated financial advisory firm carrying on business in the UK, Prism Xpat adheres to the UK’s Financial Services Authority’s regulatory rules and procedures. These have been established with the whole aim of ensuring that our business is set up with your best interests in mind. Prism Xpat take these rules very seriously and rigorously implement these as best as we can. We also invite external third parties who work with the regulators to review our business processes to ensure these principles are maintained on an ongoing basis.

Our staff are required to sign that they will uphold these principles in our internal day to day activities.

Culture. 

The culture of our firm is based on the following:

1. We will be open, honest and fair throughout our dealings with you.
2. We will remain unbiased and independent at all times, to act in your best interests.
3. We will not undertake work for you where we believe you will not benefit from our service.
4. We will fully disclose our fees to you, in advance. You will be asked to agree these, in writing, prior to the service commencing.
5. We will communicate with you in clear terms you can understand. It is essential that you properly understand how your situation is impacted.
6. We will deal with any complaints promptly and fairly as per a set regulatory process.

Dealing with you.

In undertaking work for you:

1. We will only recommend appropriate strategies considering your own personal situation and plans, allowing for differences in tax residency and visa class.
2. We will exhibit clarity in all customer dealings.
3. We will provide a seamless service, considering your best interests in the UK and abroad.
4. We respect your privacy, keep your information confidential at all times and not disclose your information to any third parties without your consent.
5. We will provide you with access to a manned UK based helpline  to contact one of our advisers should you have questions as our work progresses.

Treating Customers Fairly

In ensuring that you are treated fairly and continue to receive the highest levels of advice, we:

1. Ensure our advisory staff go through a fully documented training program (including consideration of visa issues) before they are allowed to provide you with any advice.
2. At least 6 monthly, invite external compliance specialists to investigate our business principles and processes to ensure that our processes and systems are compliant with regulations and have your best interests as paramount.
3. Base staff incentives on targets related to efficiency and treating our customers fairly.
4. Maintain full professional indemnity insurance.

Ensure that any advice we provide you also comes with protection provided by the Financial Services Compensation Scheme and Financial Services Ombudsman.

Our Advisory Affiliates Abroard

1. We undertake teleconferences at least monthly with our advisers abroad, and are in regular communication by email in the interim to ensure that our advice continues to be relevant, up to date with changing legislation and appropriate for your requirements.
2. We only work with advisers abroad who are fully trained in the issues for expats and emigrants and whom are completely independent – so they can operate in your best interests without any ties to banks or insurance companies affecting the quality of their advice.
3. We undertake a full due diligence process, on key cultural criterion, with your best interests firmly in mind, prior to establishing a relationship with any affiliate abroad. This ensures that our advisory affiliates are well set up to operate at the highest standards.

Should you have suggestions at any time on how we can improve our principles or processes, please let us know. We will listen to you and seriously consider any feedback you wish to provide.