Thursday, 09 May 2019 16:25

20% of IFA's investors looking to move UK assets abroad

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Nigel Green Nigel Green

More than 20 per cent of clients of IFA firm deVere Group have sought advice on moving UK assets out of Britain since the Brexit vote in 2016.

deVere Group, which has more than 80,000 clients across 100 countries worldwide, revealed the statistic as cross-party talks to resolve the Brexit crisis are reaching the end.
 
Nigel Green, founder and CEO of deVere Group, said: “More than a fifth (21%) of our clients – who are typically expatriates and international investors – have sought advice on moving UK financial assets out of Britain since the EU referendum in 2016.

“The pace of this trend picked up over the first quarter of 2019 as the Brexit chaos fell into a national crisis for the UK.”
 
He added: “The monumental level of uncertainty caused by Brexit has prompted many clients to seek established, legitimate overseas opportunities in other highly regulated jurisdictions in order to grow, build – and importantly – safeguard their wealth.
 
“For many, it is the sheer depth of the uncertainty that astonishingly still remains, that is alarming. 
 
“They tell us that despite it seemingly likely that Britain is moving in the direction of a soft Brexit, many uncertainties hang heavy over the spiralling situation.”
 
Mr Green said there was “uncertainty on all levels” and said the “Brexit chaos may be a good excuse to start that much-needed rebalancing in favour of global equities, bonds and perhaps property”.

 

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Last modified on Thursday, 09 May 2019 16:51
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