When it comes to complex financial questions, there’s nothing like face-to-face advice. Whether you’re a UK national, an emigrant or an expatriate, with questions about tax residency, pensions, property, wealth management, investment and taxation, or the financial implications of various visa classes, we’ll help you understand your options.
Ask questions and get answers on the spot
Learn how to make the most of the tax system, in the UK and abroad
Find out about issues that you weren’t aware of
Discuss an in-depth action plan to optimise your finances
Before the meeting, we’ll ask you to fill out our brief questionnaire. This gives us the chance to get familiar with your financial situation and tailor the session to your particular needs.
Your meeting with a specialist advisor will take 90-120 minutes. During that time, you’ll address any specific questions and discuss the best strategy to make the most of your financial situation.
You’ll walk away with an action plan indicating the next steps. If we need to do some further research or analysis, we’ll let you know when to expect a follow-up.
Moving abroad and want to know what to do with your UK pension scheme(s)? We’ll advise you on your options and provide a formal recommendation on your optimal course of action. Whether it’s a defined benefit (final salary) scheme, a personal or occupational pension, a SIPP, a SSAS, an unfunded scheme, and whether it includes an enhancement, safeguarded rights, or a guaranteed annuity rate, we’ll consider every aspect of your financial situation and determine whether a transfer makes sense for you. Our service commences with a free initial investigation.
A clear and decisive solution on what to do with your pension scheme
Confidence that your advisory team has decades of specialist experience in the field, with thousands of pension transfers undertaken already
Impartial advice backed by nationwide technical and compliance support, for extra peace of mind
A simple, seamless process, with a ‘one stop shop’ team who can also implement the advice on your behalf
To start, we’ll be in touch with you via phone and in writing to gather the information we need. Then we’ll research each of your pension schemes in-depth, considering your own personal circumstances and retirement objectives. You’ll receive a comprehensive report on your pension situation, including a review of your scheme(s), analysis, reasoning, and recommendations on how to act. If you’d like us to, we can then implement the advice for you also.
UK pension reforms introduced in April 2015 mean it is now mandatory for a UK-based adviser with appropriate pension permissions to advise on and transact any transfer from a UK pension scheme that is defined benefit or which has safeguarded benefits, where the transfer value exceeds £30,000. This includes transfers within the UK and international transfers from the UK.
Further, the reforms introduced the ability to cash out of UK pension schemes instead of receiving an annuity.
Prism Xpat has the relevant permissions to advise you on the most appropriate course of action in these respects and would be pleased to work with you whether you are a UK national or resident abroad.
Our main aim as a company is simple. To help you optimise your position with regards to your pension funds, whether resident in the UK or abroad. This has been our main aim since commencing in 2002.
So, to help you out, we have designed a free range of pension services to benefit you. There is no obligation whatsoever to undertake any further work with us once you have received the analysis/feedback although we will contact you to discuss the findings so you know how to progress.
For further information on each of these services, please visit the ‘Free/Low Cost Pension Services’ menu as above.
If you’ve already moved from the UK, or are planning to do so soon, international pension plans are worth considering. Depending on your situation, they can help you avoid the restrictions of the UK pension system and maximise your after-tax retirement income – especially if you’re likely to exceed the UK Pension Lifetime Savings Allowance (£1m from April 2016.) Our service commences with a free initial investigation.
Advice covering the full range of international Recognised Overseas Pension Schemes (also known as (Q)ROPS andQNUPS as well as offshore bonds
Full review of the relative merits of each option, taking into account Double Taxation Agreements
Confidence that your advisory team has over 13 years of specialist experience in international pensions (since before ROPS even existed!), with thousands of clients across all pension types
Impartial advice backed by nationwide technical and compliance support, for extra peace of mind
To start, we’ll be in touch with you via phone and in writing to gather the information we need. Then we’ll research each of your current pension schemes in-depth, considering your own personal circumstances and retirement objectives. You’ll receive a comprehensive report on your pension situation, including a review of your scheme(s), analysis, reasoning, a consideration of the potential effects of Double Taxation Agreements, and recommendations on how to act. If you’d like us to, we can then implement the advice for you also.
If you are an emigrant/expatriate or considering moving countries at some point, why limit the options of where to hold your pension funds and investments to the UK or your jurisdiction abroad? What if you are not 100% sure which country you plan to retire in, or are precluded from transferring you pension to the country you live in? What if you are on a visa which may not allow you to remain in your country for the long term, or have a pension fund which is projected to exceed your lifetime allowances or contribution/transfer limits of your country of residence?
The world is a big place. With an increasingly globally mobile workforce and people retiring in a different country to that which they previously resided in, the flexibility and additional tax benefits associated with an international strategy could provide you with an increased standard of living both pre and post retirement.
When you move between countries, your tax residence status changes, which in turn changes how your assets and pensions are taxed. If you’re an expat, it’s a good idea to get informed about how this might affect you and your financial goals – ideally, even before you move.
Please note: The Financial Conduct Authority does not regulate taxation and trust advice. The value of investments and income from them can fluctuate (this may partially be the result of exchange rate fluctuations) and investors may get back less than the amount invested. Past performance is not a guide to future performance.
Find out how you should act to reduce your overall tax liability and set yourself up to benefit from your changed tax status
Understand whether you should keep your assets in the UK, or transfer these abroad (and if so, to where.)
Understand whether you should sell or purchase assets to benefit from your changed tax status
Understand the implications of the different tax year, double tax agreements, your visa status and the differences in financial products between the relevant countries.
To start, we’ll be in touch with you via phone and in writing to gather the information we need about your current assets and their location. Then we’ll put together a comprehensive report for you, outlining your opportunities to benefit across your full asset base (or limited to pensions if you prefer), taking into account your location and tax status. If you’d like us to, we can then implement the advice for you also.
An in-depth tailored meeting with one of our specialists generally takes 1-2 hours. By the end of the meeting you should expect to have an action plan so you know what to do so you are not caught out and can benefit from the change in tax and financial status on the move.
No matter where you live, it’s important that your overall financial portfolio is looked after to suit your goals and risk profile. Our wealth management service takes a global perspective, managing your assets and pensions across jurisdictions to make sure your finances are as worldly as you are.
Please note: The value of investments and income from them can fluctuate (this may partially be the result of exchange rate fluctuations) and investors may get back less than the amount invested. Past performance is not a guide to future performance.
To start with, we’ll take a thorough look at your financial product portfolio (including your pensions), your personal risk profile and your specific financial goals. Based on these details, we’ll provide some recommendations tailored to you, with continued co-ordination from our international team both in the UK and abroad.
When you transfer your pension or other assets between countries, you usually don’t get to choose how your funds are converted – a default bank is used, without giving you the chance to optimise the exchange rate. Often 3-5% of your funds are wasted in this process alone. We’ve developed a unique foreign exchange system that saves you nearly all of this cost.
You’ll save around 3% to 5% off your asset value by choosing to make your transfer through Prism Xpat. In many cases, our clients find that the saving has entirely offset the cost of our advisory services – so it literally pays for itself.
Prism Xpat understands that most financial advisers specialise in their local jurisdictions and do not have the international expertise. Hence, Prism Xpat has developed a service offering to work together with financial advisors to ensure that clients and financial advisers are properly looked after throughout.
Prism Xpat is pleased to work together with financial advisers in the UK, Australia, New Zealand and other locations abroad to assist on any clients who require specialist UK sign offs or international pensions expertise.
We would also be pleased to speak with any financial advisors based abroad who are interested in establishing more formal links to work together across countries, so please contact us if you feel this may be of interest.
In all cases, where you have an existing relationship with the client, we would treat this relationship as paramount and ensure you are kept up to date as any work progresses.
As part of any such relationship we would be pleased to consider introducer arrangements and also to undertake 3 way teleconferences (between the client, the client’s existing adviser and ourselves to ensure that all parties are well aware of the work to be undertaken).
For further information, please email firstname.lastname@example.org in the first instance.