Independent Financial Advice

3 Replies

I am living in Mallorca and will be registering as a permanent national in the near future.  With the current strength of the £ against the EUR, I am wondering whether it makes more sense to move my savings over here.  The rate offered by Santander for my ISA has expired and as such the interest rate has dropped below the depths of the sea to a place not visible to man.  The only consideration is it's tax free.  However, tax free on such small interest rates means little anyway.  So I am wondering whether to move it over now and 'make hay while the sun shines'.  I want to speak to an IFA but I'm confident there are loads out there who take advantage of ex-pats and charge extortionate rates.  So I would be interested in opinions / experiences on this topic as well as any contacts you might have who will give honest independent advice for a reasonable fee? I also even wondered whether it would be worth moving my pension over here as well however, I probably have another 20-30 years work left before I claim it so who knows what could happen by then, so not sure if it is better to 'stick'? Any advice would be much appreciated !! Thanks

Replies

Goggleyes 1435153959

We are with the Deutsche Bank and through their various investments and bonds have made quite a bit of money. They acknowledge that putting money in standard deposit or savings accounts doesn't yield a good return so are always happy to advise us when something comes along that fits our investment profile.

Hastalapasta 1435235093

Finding an all-of-market advisor has proved a bit elusive for us too. Most advisors have a set of products that they sell on behalf of another umbrella company. Agree that now would be a good time to move you money from Sterlig to Euros, especially if you're staying here permanently.


There's a great thread about money transfer companies here: http://madrid.angloinfo.com/forum/viewtopic/4470/0/money-transfers

Semaj-10042798 1435240630

Thanks Hatapalasta


Well it seems we're agreed now is the time to transfer.  Regards transfer companies I already use Caxton for that and they're pretty good.  Last time I checked money saving expert they were ranked one of if not the best for my requirements.  Best to check money saving expert for the best ones right now in my opinion but for me I think I'm going to stick with Caxton they've offered me a special rate on this bulk transfer as well.  


Thanks again


 

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