Go Back  British Expats > Living & Moving Abroad > Europe > Spain
Reload this Page >

Reliable tax & investment planning advisory firms

Reliable tax & investment planning advisory firms

Old Sep 29th 2020, 5:50 pm
  #1  
Just Joined
Thread Starter
 
Joined: Sep 2020
Posts: 5
Vela is an unknown quantity at this point
Post Reliable tax & investment planning advisory firms

Hey all,

Looking for recommendations on listed/regulated firms providing reliable Tax & Investment advisory services to British expats. In my scenario likely to remain employed in the UK and working from both locations, with the family moving to Spain. Secondary research indicates the likes of e.g. Blevins Franks, Blacktower Financial Management Group etc. - though reviews of their services aren't always glowing. Keen to get perspectives from the folks here regarding tax advisors they've had positive experiences with and might recommend.

Thanks in advance!
Vela is offline  
Old Sep 30th 2020, 7:42 am
  #2  
Forum Regular
 
Joined: Aug 2010
Location: Andalucia
Posts: 35
discoman is an unknown quantity at this point
Default Re: Reliable tax & investment planning advisory firms

Originally Posted by Vela View Post
Hey all,

Looking for recommendations on listed/regulated firms providing reliable Tax & Investment advisory services to British expats. In my scenario likely to remain employed in the UK and working from both locations, with the family moving to Spain. Secondary research indicates the likes of e.g. Blevins Franks, Blacktower Financial Management Group etc. - though reviews of their services aren't always glowing. Keen to get perspectives from the folks here regarding tax advisors they've had positive experiences with and might recommend.

Thanks in advance!
You will need to ask yourself if you want truly independant advice. Neither of the companies you mention are independant: they will point you in the direction of their preferred investments and it'll be your judgment as the how these "recommendation" are arrived at. I'm not too sure if there are any independant advisors in Spain.
discoman is offline  
Old Sep 30th 2020, 8:08 am
  #3  
Retired and loving it!
 
snikpoh's Avatar
 
Joined: Sep 2007
Location: Ontinyent - Valencia region (campo)
Posts: 4,979
snikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond repute
Default Re: Reliable tax & investment planning advisory firms

You will obviously be a tax resident in Spain paying tax on worldwide income as you family etc. will be living in Spain.

There are a number of big IFA's but (IME) don't really offer tax planning etc. Blevins Franks are the most prominent but are expensive
snikpoh is offline  
Old Dec 8th 2020, 7:20 pm
  #4  
Forum Regular
 
Joined: Dec 2011
Posts: 193
Otto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond repute
Default Re: Reliable tax & investment planning advisory firms

Originally Posted by Vela View Post
Hey all,

Looking for recommendations on listed/regulated firms providing reliable Tax & Investment advisory services to British expats. In my scenario likely to remain employed in the UK and working from both locations, with the family moving to Spain. Secondary research indicates the likes of e.g. Blevins Franks, Blacktower Financial Management Group etc. - though reviews of their services aren't always glowing. Keen to get perspectives from the folks here regarding tax advisors they've had positive experiences with and might recommend.

Thanks in advance!
If you are still UK tax resident, then you may need both a UK and EU based adviser as the passporting of licences from the UK to EU and vice-versa will come to an end.

Avoid insurance based investment bonds sold to Brits in Spain (either long term savings plans or insurance bonds). Also,Spanish compliant insurance bonds may not be relevant if you are tax resident in the UK, and if they are expensive if sold on a commission basis. There is a question mark on the legality of the sale of the non-compliant bonds in Spain.

Use a fee-based adviser in all cases. As for tax advice, find an accountant.
Otto The Squid is offline  
Old Dec 9th 2020, 6:43 am
  #5  
Forum Regular
 
Joined: Oct 2019
Posts: 40
trythallj is an unknown quantity at this point
Default Re: Reliable tax & investment planning advisory firms

I would agree that IFAs are by no means unbiased in their advice, and not the best source for tax advice in particular. I have had conversations with IFAs and lawyers offering tax service, and have come to the conclusion that Abaco, based in Torrevieja, are the best for my needs, even though they are not local to me. They are a firm of lawyers and tax advisors, who will also handle the submission of your Spanish tax returns. They stood out from others by answering the questions I actually asked, rather than the ones they wanted to answer. Investment advise is something different, and I would echo the comment that it would be better to try to find fee based independent advice, although I would not know where to start in this. I thought that the IFA I consulted were too keen for me to move out of UK ISA (as a pensioner who may well end up back in the UK), and also were looking for excessive charges (3% plus 1% pa ongoing.)
trythallj is offline  
Old Dec 10th 2020, 10:00 am
  #6  
Forum Regular
 
Joined: Dec 2011
Posts: 193
Otto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond repute
Default Re: Reliable tax & investment planning advisory firms

Originally Posted by trythallj View Post
I would agree that IFAs are by no means unbiased in their advice, and not the best source for tax advice in particular. I have had conversations with IFAs and lawyers offering tax service, and have come to the conclusion that Abaco, based in Torrevieja, are the best for my needs, even though they are not local to me. They are a firm of lawyers and tax advisors, who will also handle the submission of your Spanish tax returns. They stood out from others by answering the questions I actually asked, rather than the ones they wanted to answer. Investment advise is something different, and I would echo the comment that it would be better to try to find fee based independent advice, although I would not know where to start in this. I thought that the IFA I consulted were too keen for me to move out of UK ISA (as a pensioner who may well end up back in the UK), and also were looking for excessive charges (3% plus 1% pa ongoing.)
Those IFAs that work on an agreed fee basis- before recommending anything- should not be biased.

However most work on commission and have 'partners' displayed on their websites. The partners being the companies that provide the financial products. No genuinely independent advice firm would have these cosy relationships.

No harm in getting recommendations in writing and then running them past a tax adviser first.

BTW- that 3% and 1% ongoing is way less expensive than most non-UK advisers charge.
Otto The Squid is offline  
Old Dec 10th 2020, 10:41 am
  #7  
Forum Regular
 
Joined: Mar 2011
Posts: 138
dairymaid is just really nicedairymaid is just really nicedairymaid is just really nicedairymaid is just really nicedairymaid is just really nicedairymaid is just really nicedairymaid is just really nicedairymaid is just really nicedairymaid is just really nice
Default Re: Reliable tax & investment planning advisory firms

Are the investment services offered by the banks worth investigating? I´ve been looking at BBVA and Openbank (Santander) which offer low/medium or higher risk options?
I´ve come to the conclusion that IFAs are expensive and a tad too risky.

Last edited by dairymaid; Dec 10th 2020 at 11:00 am.
dairymaid is offline  
Old Dec 11th 2020, 2:29 pm
  #8  
Retired and loving it!
 
snikpoh's Avatar
 
Joined: Sep 2007
Location: Ontinyent - Valencia region (campo)
Posts: 4,979
snikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond repute
Default Re: Reliable tax & investment planning advisory firms

Originally Posted by dairymaid View Post
Are the investment services offered by the banks worth investigating? I´ve been looking at BBVA and Openbank (Santander) which offer low/medium or higher risk options?
I´ve come to the conclusion that IFAs are expensive and a tad too risky.
There's nothing risky about a portfolio organised by an IFA - they will ask you to complete a questionnaire to assess your risk profile.

I looked into investments via a bank and also via an insurance company but chose to stay with an IFA and a reputable investment company
snikpoh is offline  
Old Dec 11th 2020, 3:49 pm
  #9  
BE Forum Addict
 
Joined: Aug 2009
Location: Costa Blanca
Posts: 2,419
spainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond reputespainrico has a reputation beyond repute
Default Re: Reliable tax & investment planning advisory firms

Yes I think now by Spanish law they have to conduct an assessment of your needs to establish your risk profile and all investments are given a risk rating to give you a guide as to the risk you are investing in - but I still think all IFAs have their links to preferred companies to deal with and their commission must factor in their advice.

At the end of the day given the state the world is in and the constant volatility all investments are a risk with whoever.

I prefer something I can see like property which although not 100% risk-free is at least an asset which will not disappear and can provide a roof over your head.
spainrico is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.