Financial Advice
Feb 29th 2004, 9:57 am
#1
Forum Regular
Thread Starter
Joined: Apr 2003
Location: Sydney
Posts: 113
Financial Advice
Anybody been to see a UK financial adviser before coming out to Australia? If so what was the advice regarding endowments and ISas/PEPs? Should I sell and switch the money into cash? I know there has been a lot of debate about pensions but I really want to find out from somebody qualified what I should do with my other stuff.
Feb 29th 2004, 11:09 am
#2
Bloody Nice Bloke
Joined: Nov 2003
Location: Living the good life in sunny St Kilda
Posts: 386
I havent been to see one in person but I do have a guy called Darion Pohl dealing with my financial affairs. He works for a company call Prism Xpat Financial planning and they can be found on the following link
www.xpatconsulting.com
He is sorting my preserved pension side of things as well as looking at a Universal Life Policy I have.
There is only about 4 or 5 companies in the UK that seem to deal in financial affairs regarding emmigration and Prism have been very good so far.
Personally I would recommend any one getting expert advice on their finances, as over time it may well sneak up, take a huge chunk out of your arse and then disappear without a trace. Of course with that I refer to the sharks that are the tax people.
www.xpatconsulting.com
He is sorting my preserved pension side of things as well as looking at a Universal Life Policy I have.
There is only about 4 or 5 companies in the UK that seem to deal in financial affairs regarding emmigration and Prism have been very good so far.
Personally I would recommend any one getting expert advice on their finances, as over time it may well sneak up, take a huge chunk out of your arse and then disappear without a trace. Of course with that I refer to the sharks that are the tax people.
Last edited by ianj; Feb 29th 2004 at 11:15 am.
Feb 29th 2004, 1:18 pm
#3
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,397
Originally posted by ianj
I havent been to see one in person but I do have a guy called Darion Pohl dealing with my financial affairs. He works for a company call Prism Xpat Financial planning and they can be found on the following link
www.xpatconsulting.com
He is sorting my preserved pension side of things as well as looking at a Universal Life Policy I have.
There is only about 4 or 5 companies in the UK that seem to deal in financial affairs regarding emmigration and Prism have been very good so far.
Personally I would recommend any one getting expert advice on their finances, as over time it may well sneak up, take a huge chunk out of your arse and then disappear without a trace. Of course with that I refer to the sharks that are the tax people.
I havent been to see one in person but I do have a guy called Darion Pohl dealing with my financial affairs. He works for a company call Prism Xpat Financial planning and they can be found on the following link
www.xpatconsulting.com
He is sorting my preserved pension side of things as well as looking at a Universal Life Policy I have.
There is only about 4 or 5 companies in the UK that seem to deal in financial affairs regarding emmigration and Prism have been very good so far.
Personally I would recommend any one getting expert advice on their finances, as over time it may well sneak up, take a huge chunk out of your arse and then disappear without a trace. Of course with that I refer to the sharks that are the tax people.
Well, yes.
The trouble with advice on anything like this is that the run-of-the-mill situations are relatively straightforward to suss out with a bit of due diligence.
The complicated are not - and that's where you get a lot of waffle which doesn't actually help much, or clarify the problems. Rather like the immigration agents, if you think about it!
In the end, it is you yourself who make the decisions and have to suffer any consequences - it's your signature on the bottom sheet whoever draws up the thing!
Feb 29th 2004, 2:05 pm
#4
Bloody Nice Bloke
Joined: Nov 2003
Location: Living the good life in sunny St Kilda
Posts: 386
Very true but when there could be large financial implications at stake then I personally don't want to leave it to my 'due diligence'. I am no expert in tax issues and even though someone may have a PEP or an ISA which is tax free in the UK I wouldn't know if that was still the same upon leaving the country.
If it was a case of saying, 'Oh well, lets sign it and then suck it and see further down the line' then those people maybe fortunate enough to have enough money to not care about what happens. I am not in that position and so will take my information from someone who knows the score, has trained in their chosen field and know what the implications are.
Its up to the individuals at the end of the day but if it was me I wouldn't call a hairdresser to change a snapped cam belt on my car, I'd ask an expert. Or I could just leave it and hope that although my cam belt has snapped the car may well sort it outself some day in the future.
Just my thoughts............
If it was a case of saying, 'Oh well, lets sign it and then suck it and see further down the line' then those people maybe fortunate enough to have enough money to not care about what happens. I am not in that position and so will take my information from someone who knows the score, has trained in their chosen field and know what the implications are.
Its up to the individuals at the end of the day but if it was me I wouldn't call a hairdresser to change a snapped cam belt on my car, I'd ask an expert. Or I could just leave it and hope that although my cam belt has snapped the car may well sort it outself some day in the future.
Just my thoughts............
Feb 29th 2004, 9:55 pm
#5
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,397
Originally posted by ianj
Very true but when there could be large financial implications at stake then I personally don't want to leave it to my 'due diligence'. I am no expert in tax issues and even though someone may have a PEP or an ISA which is tax free in the UK I wouldn't know if that was still the same upon leaving the country.
If it was a case of saying, 'Oh well, lets sign it and then suck it and see further down the line' then those people maybe fortunate enough to have enough money to not care about what happens. I am not in that position and so will take my information from someone who knows the score, has trained in their chosen field and know what the implications are.
Its up to the individuals at the end of the day but if it was me I wouldn't call a hairdresser to change a snapped cam belt on my car, I'd ask an expert. Or I could just leave it and hope that although my cam belt has snapped the car may well sort it outself some day in the future.
Just my thoughts............
Very true but when there could be large financial implications at stake then I personally don't want to leave it to my 'due diligence'. I am no expert in tax issues and even though someone may have a PEP or an ISA which is tax free in the UK I wouldn't know if that was still the same upon leaving the country.
If it was a case of saying, 'Oh well, lets sign it and then suck it and see further down the line' then those people maybe fortunate enough to have enough money to not care about what happens. I am not in that position and so will take my information from someone who knows the score, has trained in their chosen field and know what the implications are.
Its up to the individuals at the end of the day but if it was me I wouldn't call a hairdresser to change a snapped cam belt on my car, I'd ask an expert. Or I could just leave it and hope that although my cam belt has snapped the car may well sort it outself some day in the future.
Just my thoughts............
The PEP/ISA thing's probably a poor example, because it is a fairly obvious one. First you find out from your provider whether you are legally able to hold it when tax resident outside the country. If not you cash it in. If it is legal it's self-evident that it comes under "worldwide income" from the Australian point of view and is taxed. From these pages it is also apparent that the capital change each year in AU$ terms is taxable. I don't think any of that is rocket science.
What I meant was that a *complex* financial situation very quickly gets too involved for any one financial advisor and you then get into the situation where several are involved. Ask three for an opinion and you will get four answers. It ends up with you still having to make up your own mind.
