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Le Tour de Finance Italy

By Spectrum-IFA - Topics: Events, Italy, Le Tour de Finance, Uncategorised
This article is published on: 30th March 2016

30.03.16

We know our clients well and can tell you what their main
financial concerns are in today’s world.

  • What will happen to my money if Italian banks go bust?
  • What will the impact of BREXIT be on my money and should I change my Sterling into Euro now or wait until until later?
  • Is it possible to pay less tax in Italy?
  • Do I have the right financial products for a resident of Italy, even if I have finances in other countries?
  • Am I invested in the correct financial markets given the ups and downs at the moment? Is it really possible to protect my money from recent falls in value like that of the oil price?

If you would like to know the answers to any of these questions, you are invited to a FREE seminar where The Spectrum IFA Group will bring you a cross section of experts in International and Italian financial matters.

Le Tour de Finance Italy

  • April 13th – the Santa Caterina Hotel,Las Spezia
  • April 14th – the UNA Hotel Tocq, Milano

The events will commence at 10:30 with a welcome caffè and end at approx 14:00 following a FREE buffet lunch including wine and a chance to speak with the experts one on one. The discussion will start at 11:00 with brief presentations followed by targeted questions for the speakers by Gareth Horsfall of the Spectrum IFA Group (Italy). During this time, we openly welcome questions from the attendees and even welcome questions in advance of the event.

The speakers on the tour will be:

Chris Wanless: Associate Director at Rathbones Investment Managers (UK)
Answering questions on the state of world financial markets and how to protect yourself from further falls in the markets.

Andrew Lawford: From SEB life International.
Explaining how to utilize the Investment Bond as a way to minimize taxes on assets for Italian resident expats.

Judith Ruddock: Representing cross border tax experts, Studio del Gaizo Picchioni
Judith will be taking questions on being ‘in regola’ in Italy.

Gareth Horsfall: Manager of The Spectrum IFA Group in Italy
Discussing financial planning issues that concern all foreigners living in Italy.

For further information on Le Tour de Finance Italy and to book your place please click here

 

 

Le Tour de Finance

By Spectrum-IFA - Topics: Events, France, Le Tour de Finance, Uncategorised
This article is published on: 21st March 2016

21.03.16

The first spring leg of Le Tour de Finance has finished in France, with three events being held in Limoges, Poitiers and Mouzeil.

The events were a resounding success with attendance up on last year and an extended pool of international guest speakers present for the three events. The organisers work hard to bring representatives from large international financial institutions to these events, giving attendees unrivaled personal access to these experts and asksome of those ‘need to know’ questions in a small and informal group. Each event ends with a complimentary buffet and offers attendees even more personal access to the experts.

Le Tour de Finance will return to France in May with events in Toulouse, Bergerac and Brantome with further events in June.

 

Le Tour de Finance – Italy

Le Tour de Finance continues in April with events in La Spezia on the 13th April and in Milano on the 14th April. More information and booking information can be found here.

 

Le Tour de Finance – London

We are also pleased to announce that Le Tour de Finance will be running an event in London. This is the perfect opportunity for those of you who are thinking of making the move to France and will allow you to ask these experts direct questions about becoming an expat.

For more information about Le Tour de Finance in London please click here

Le Tour de Finance – Spring Seminars

By Spectrum-IFA - Topics: Events, France, Le Tour de Finance, Spectrum-IFA Group, Uncategorised
This article is published on: 23rd February 2016

23.02.16

The spring run of Le Tour de Finance seminars in France is kicking off this week on the 8th March in Limoges and then moves on to Poitiers on the 9th March and Mouzil on the 10th March.

Le Tour de Finance in 2015 proved to be the most popular series of events ever and we celebrated the 100th event in November. The seminars offer English speaking expats a chance to meet various experts from fields including; specialist expat independent financial advice, mutli-asset wealth management, currency exchange, QROPS/pensions and expat tax advice. The experts represent a range of international institutions giving attendees unprecedented access to ask those nagging questions about living as an expat in France.

The events commence at 10am with a welcome coffee followed by a series of short and informative presentations. The seminars are wrapped up with a free buffet lunch and the chance to personally meet these experts and mingle with other like minded expats.

The next events are:

8th March 2016 Haute-Vienn Limoges Register Now
9th March 2016 Poitou-Charentes Poitiers Register Now
10th March 2016 Pays de la Loire Mouzeil Register Now

 

If you would like further information or would like to book a place, please contact us

The objective of Le Tour de Finance is to provide expatriates with useful information relating to their financial lives. We try and cover frequently asked questions that we receive from our clients. It would be helpful for us to know what your particular areas of interest might be.

For further details and to book your place at a future event please register here or complete the form below.

Le Tour de Finance – 100th event in Dinard

By Spectrum-IFA - Topics: Events, France, Le Tour de Finance, Uncategorised, Uncategorized
This article is published on: 15th November 2015

15.11.15

Our 100th financial seminar was quite rightly our biggest yet with approximately 90 attendees out of the 106 who had RSVP’d.

Guest speakers from Rathbones, SEB, Tilney Best Invest, Prudential International and Standard Bank all flew in specially for this event alongside the organisers and founders, Pippa Maile from Currencies Direct and Michael Lodhi from The Spectrum IFA Group.

The venue, Le Grand Hotel Dinard, was a fabulous location with first-class service and an excellent buffet lunch to finish.

There were plenty of prized to mark the event – five lucky attendees went home with 100euros in cash each, everyone received a goodie bag plus there was a prize draw for other prizes including champagne, signed British rugby shirts and autographed books.

Thank you to everyone who came along and made this such a great success.  If you are one of the people who unfortunately had to cancel at the last minute, please feel free to drop us a line at seminars@ltdf.eu if you would like copies of the presentations or have a specific topic that you would like advice on.

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Le Tour de Finance – autumn 2015

By Spectrum-IFA - Topics: Events, France, Le Tour de Finance, Spectrum-IFA Group, Uncategorised
This article is published on: 25th September 2015

25.09.15

We have been proudly taking part in ‘Le Tour de Finance’ which has now completed nearly 100 events.

The 100th event is in November taking place at the stunning Grand Hotel in Dinard. During 2015 we have already covered events in  Italy, France and Spain that proved to be a huge success. The events are fact filled sessions followed by an opportunity for an informal questions and answers session over complimentary refreshments and a buffet.

The relaxed and open forums are a chance to expand your knowledge of personal finance as an expat resident in France. The panel of speakers are experts in their respective fields and are on-hand to answer questions you may have about protecting and strengthening your personal financial situation while a resident in France.

We welcome you to join us for these autumn events in France.

    •    St. Endreol (Provence) – 7th October register now | more info
    •    Aix en Provence – 8th October register now | more info
    •    Gayda (Languedoc-Roussillon) – 9th October register now | more info
    •    Avrillé, Loire – 11th November register now | more info
    •    Dinard (Brittany) – 12th November – OUR 100th LE TOUR DE FINANCE EVENT! register now | more info

The objective of Le Tour de Finance is to provide expatriates with useful information relating to their financial lives.
 We try and cover frequently asked questions that we receive from our clients. It would be helpful for us to know what your particular areas of interest might be.

Send us your questions and the event you will be attending and we will try and cover them on the day:

Please click here for Le Tour de Finance Questions

QROPS – Qualifying Recognised Overseas Pension Schemes

By Rob Hesketh - Topics: Le Tour de Finance, Pensions, QROPS, Retirement, Uncategorised
This article is published on: 4th August 2015

04.08.15

I’d like to revisit the topic of pensions this month; specifically QROPS pensions. I’m sure you remember that it stands for Qualifying Recognised Overseas Pension Schemes. I spend a lot of time talking to clients these days about QROPS. I don’t want to bore you with loads of technical detail here; I want to concentrate on the core reason why you should consider a QROPS if you are non UK resident or are considering becoming so. Much has happened this year in the UK pensions industry, and it has tended to cloud the picture regarding expats and their retirement savings. Let’s try to regain some clarity.

If you’ve moved to France, or are considering a move here, you need to at least consider a QROPS as an option. It gives you the right to move your pension fund out of the UK jurisdiction altogether, and have much more control over your pension pot, and protect it from internal taxation and other forms of interference from the UK system which is focussing more and more on how to tax your assets.

I’m talking to a client in this position at the moment. His name isn’t Steve, but we’ll call him that anyway. He has a £400,000 pension pot made up of four different pensions accrued over his working life. He and his wife are UK resident, but intend to be French resident soon. I’ve given him all the background information, and he has come back with a very succinct question:

‘I think it quite likely that I will live in France for many years, but equally likely that I will return to the UK at some stage in the future. As my pension will revert to UK jurisdiction when that happens, is it worth my while paying the overseas trustee fees while I am outside the UK?’

Steve is 65 years old, and he thinks he will return to the UK when he is 80. Let’s also assume a modest net return of 5% per annum of the QROPS pension. This of course cannot be guaranteed, but is the current performance of my preferred investment fund over the past 5 years. Let’s assume that he decides to do a QROPS transfer.

Now let’s move forward in time by 10 years. Steve’s pension fund is now worth £550,000. (the mathematicians amongst you will of course realise that he has been drawing down some of this pension to supplement their other sources of income) He’s quite pleased with this, but would be less pleased to learn that in two weeks’ time he will be killed in a tragic car accident.

As tends to happen in later years, Steve and his wife had discussed what they would do if one of them died. Steve thought that if he was the one left, he would stay in France, but his wife, we’ll call her Jane, thought it more likely that she would go back to the UK to be with the children and grandchildren. This is indeed what Jane decides to do, and to facilitate this, she decides to take the full pension pot as a capital sum to enable her to buy a decent house back in Cambridge. She will invest the proceeds of the sale of the French house when, and if, it sells.

Because Steve decided to transfer under the QROPS system out of the UK pension jurisdiction, Jane will get every penny of the £550,000 pension lump sum. If Steve’s decision had gone the other way, and he had decided to keep his four pensions in the UK, Jane would be looking at a tax bill from HMR&C of 45% on the majority of the money if she took it as a lump sum. Her tax bill would be in the region of £210,000 at current rates.

There will have been additional costs in having a QROPS pension, principally to remunerate the overseas trustees who take on responsibility for the administration of the pension under HMR&C rules. There will also have been savings. UK pension funds are subject to UK Dividend Income Tax. The rebate of the 10 per cent credit (ACT) was withdrawn by Gordon Brown, costing pension funds billions in tax.

It is therefore difficult to quantify how much extra a QROPS costs, if anything at all. What we can say with a fair degree of certainty is ‘not as much as you might think’. In Steve’s case it probably cost about £9,000 over the ten years in trustee costs, but £8,000 of this was recovered immediately when he invested his pension money into the QROPS bond. That doesn’t happen with all QROPS, but it can currently with Spectrum.

As far as insurance goes, and I regard this as an insurance policy for while you are abroad, the cost/savings ratio looks pretty impressive. I always practice what I preach; my own pension fund is safely housed in two separate QROPS, well away from the UK tax–grabbers.

With regard to the changes that have erupted on the UK pensions scene this year – Pension Freedom – as the chancellor likes to call it; I think my views are well documented. I see this as a tax raising scheme, nothing more and nothing less. It may be that in the future QROPS schemes will be forced to fall in line with the new UK stance, but that has little to do with the many compelling reasons to look at a QROPS transfer.

QROPS is one of the topics that we will be featuring at our next ‘Le Tour de Finance’ seminar. Our industry experts will be presenting updates and outlooks on a broad range of subjects, including:

  • Financial Markets
  • Assurance Vie
  • Pensions/QROPS
  • Structured Investments
  • Currency Exchange

The date for the seminar is Friday, 9th October 2015 at the Domaine Gayda, Brugairolles. Places are limited and must be reserved, in advance. This venue is always very popular and so early booking is recommended. Please complete the reservation form here

Le Tour de Finance 2015 in France

By Daphne Foulkes - Topics: Events, France, Le Tour de Finance, Spectrum-IFA Group, Uncategorised
This article is published on: 8th June 2015

08.06.15

Le Tour de Finance has just completed its final stage of the spring 2015 events, after travelling through France, Italy and Spain. For those who are not familiar with these events, this is a series of seminars, where we bring ‘experts to expats’. Now in its sixth year and due to the popularity of Le Tour, the events take place in both spring and autumn. For the local events, we had some ‘’old and new faces’ presenting.

SEB Life International and Prudential International presented on the topic of assurance vie, explaining the tax-efficiency of this type of investment, both personal and for inheritance planning. Each of the companies outlined the unique features of their own products and it could be seen that the products complement each other, one or the other being more suited to a client, for example, depending upon attitude to investment risk.

Momentum Pensions, which is a multi-jurisdictional pension provider based in the UK, Malta, the Isle of Man and Gibraltar, presented on the highly topical subject of the UK pension reform that has taken place. The presentation outlined the ‘freedom and choice’ options now open to people, but also covered the UK tax consequences for those who decide to flexibly access their pension funds. The alternative of transferring benefits to a Qualifying Recognised Overseas Pension Scheme (QROPS) and the advantages that this can provide for expatriates was outlined.

Currencies Direct presented on the various options open to clients who wish to exchange currency, whether this is for regular payments or for ad-hoc exchanges, for example for property purchase. It was very interesting to see how much could be saved by using Currencies Direct, rather than a retail bank, particularly in the light of the current strength of Sterling against the Euro.

There was a presentation on French succession planning from Heslop & Platt, which is a firm of UK solicitors that are specialists in French law. Various possibilities that already exist under French law to put in place successful inheritance planning were outlined. In addition, the forthcoming EU rules on succession were covered and the fact that if a French resident elects the succession laws of their country of nationality to apply, the estate would be administered by a French notaire trying to apply that country’s rules. What seems clear now is that this is likely to cause complications, delays, additional expenses and uncertainty, whilst French inheritance taxes will still apply. As such, the opinion was that if there is a ‘tried and tested French solution’ that achieves the objective that someone is seeking, then this should be the first choice to use, rather than relying on the EU Regulations.

New to Le Tour this year was Leonetti Business Services, a firm that can help you with some of the French bureaucratic issues that we are all faced with from time to time, which undoubtedly can help to get rid of the frustration that these things can create.

Martignole Huzé Associés, a firm of chartered accountants based in Carcassonne, presented on the services that they can provide in English, including the completion of French tax returns, having regard to the conditions of Double Taxation Treaties.

Also new to Le Tour this year was Tilney Bestinvest, which presented on the range of investment management services that this company can provide. The choices range from Mulit-Asset Portfolios, where clients pick the one most suited to their objectives and leave the company to take care of the investment management, through to the more actively managed full Discretionary Fund Management services for larger portfolios.

For The Spectrum IFA Group, we presented on our processes and the products and services that we provide to clients, as well as highlighting the importance of our independence and how we are regulated in France by the French authorities. We also outlined client concerns, for example, tax-efficiency, inheritance tax planning, securing pensions and protection of capital. In addition, in view of the topical issues that we are facing this year, we presented the French tax and social charges consequence of cashing-in UK pensions and for inheritance planning, we used assurance vie to demonstrate the potential inheritance tax savings, providing examples of two scenarios – the ‘French Way’ and the ‘EU Way’. Assurance vie was also used to demonstrate personal tax-efficiency.

As always, the feedback from many people attending these events has been very positive and if you were not able to make it this time to Le Tour de Finance, keep in mind the next local events which will take place in October. On the other hand, if any of these subjects are of interest to you now and you would like to have a confidential discussion about your financial situation, please contact me directly or by using the form below.

Le Tour de Finance continues into the Languedoc & Pyrenees region.

By Spectrum-IFA - Topics: Events, France, Le Tour de Finance, Spectrum-IFA Group, Uncategorised
This article is published on: 20th May 2015

20.05.15

After the successful events during April in Spain, The Spectrum IFA Group and Le Tour de Finance moved into France for a series of events in Perpignan, Bize-Minervois and Montagnac.

As with previous events bring together a number of financial experts in their fields to discuss important areas such as pension & QROPS, Tax Efficient Investing, Estate Planning and French Wills.

Le Tour de Finance aims to reach expats where they live so that everyone can seek specific advice relevant to their location in a relaxed and informal atmosphere.

The sessions are always educational and drive many questions from the attendees about specific real life experiences, that allow the panel of experts to tailor the presentations.

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Le Tour de Finance returns in October in Provence, Aix en Provence and Languedoc-Roussillon.

If you would like further information or would like to book a place, please contact us

The objective of Le Tour de Finance is to provide expatriates with useful information relating to their financial lives. We try and cover frequently asked questions that we receive from our clients. It would be helpful for us to know what your particular areas of interest might be.

Send us your questions and the event you will be attending and we will try and cover them on the day: Please click here:Le Tour de Finance Questions

Le Tour de Finance, Denia, Spain

By Spectrum-IFA - Topics: Barcelona, Events, Le Tour de Finance, spain, Spectrum-IFA Group, Uncategorised
This article is published on: 4th May 2015

04.05.15

The Spectrum IFA Group has continued to support Le Tour de Finance 2015 with events in Spain throughout April. The recent events in Spain were held in Barcelona, Sitges and Denia.

These very successful events bring together a number of financial experts dedicated to helping expats understand and manage their finances when living in Spain.

Le Tour de Finance aims to reach expats where they live so that everyone can seek specific advice relevant to their local area. Tax advice, pensions/QROPS, mortgages, healthcare, schools, business advice and making the most of your assets are just some of the subjects that expats need to know more about when living as an expat.

Le Tour de Finance is the ideal opportunity to find answers to the most pressing questions facing British people living in France, Spain or Italy.

If you would like further information or would like to book a place, please contact us

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Le Tour de Finance Paris 15th April 2015

By Spectrum-IFA - Topics: Events, France, Le Tour de Finance, Uncategorised
This article is published on: 20th April 2015

20.04.15

The Spectrum IFA group was delighted to host the Paris stage of Le Tour de Finance at the British Embassy in Paris on Wednesday 15th April 2015.

A wonderful venue with equally wonderful staff. The Paris event was one of the highlights of the 2015 tour and the first time that it has been held at this very prestigious venue.

Many thanks to the Franco British Chamber of Commerce (FBCCI) and the Institute of Directors for their support of Le Tour. The event was attended by 80 people and finished with a networking buffet, allowing everyone the opportunity to both meet the speakers and also to meet other Paris-based expatriates.

The event was opened by Mr Robert (Bob) Lewis, Chairman of the FBCCI and was followed by presentations from Spectrum, Peterson Sims (UK & French Accountants), Prudential International (Assurance Vie), Currencies Direct (FX Specialists), Tilney Bestinvest (Discretionary Fund Managers), Heslop & Platt Solicitors (Specialist Estate Planners) and Aberdeen Asset Management (Fund Managers). Feedback was extremely positive and given the number of questions raised during the networking cocktail, it was clear that the attendees truly did appreciate the opportunity to avail themselves of the information on offer.

Le Tour de Finance now moves to the South of France for 3 events in May.
Go to Seminars to find out more.

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