“In the final message my father left for me and my sisters, he wrote, ‘remember that you are citizens of the world’”
Kwame Anthony Appiah
Citizens of the World
This subject is close to our hearts, partially because it describes Phil and Shannon. Between them they have lived in Zimbabwe, the USA, both of them in South Africa and of course now in the UK, with family and friends spread over four continents. They personally understand the complexities and challenges of managing wealth across countries.
A world of connections
The United Kingdom has one of the most internationally diverse populations in the world.
In fact, in 2011, 13% (7.5 million) of the resident population of England and Wales were born outside the UK. These figures include around 220,000 South Africans, 200,000 Americans, 125,000 Australians and 80,000 Canadians. In return, over 5 million UK passport holders are now said to reside abroad. (Ref: UK 2011 Census).
We are looking at upwards of 12 million people who have moved to a country other than their birth, not to mention their descendants and partners. As a result, more and more people have assets, income or liabilities in more than one jurisdiction.
Complex matters
This cross-border scenario naturally adds both complexity and risk to these individuals’ affairs. That may be through complex tax rules, or simply the vagaries of currency exchange. It is unfortunate but true to say that this has led to some people falling into less than scrupulous hands, and in turn, led to some very poor outcomes. Sometimes this is due to outright ‘scams’ and scaremongering.
The fact is that it can be very difficult for national regulators alone to deal with this cross-border challenge.
Our approach is clear – we seek to simplify our clients’ financial affairs, reducing risk, costs and complexity wherever we can This includes the risk of fraud and unwelcome attention from relevant tax authorities!
Experienced World Citizens
As part of the CFP ‘Family’ we have access to a network of fellow professionals in 27 countries and territories worldwide who share our ethical standards, high levels of competency, and who are also accountable to their respective professional bodies.
For clients who are World Citizens we always try to work with other CFP accredited Financial Planners in whatever country or territory is required. Through joint work we can add clarity and safety to our clients’ affairs.
We know and understand how vital it is to operate to not only the highest regulatory standard at any time, but also the highest professional standard as well.
If this situation sounds like you and you want some guidance on how best to deal with the situation, please email Phil on phil@perceptiveplanning.co.uk or just call us on 0207 117 2084. We can call or Skype you back.
We would be more than happy to have an initial chat at our expense and share our experience with you.
Meet the team
Since we get to know you and your goals inside and out, and since we are proud of our transparency, we would like to give you the opportunity to get to know us in return.
Chartered Status
Holding Chartered status means we adhere to an ethical code that underpins broader commitments to professional values. We are, have been, and remain publicly committed to professionalism.