You take financial advice from the UK but live in Spain, France, Portugal, Cyprus, Malta or another EU country? Regulations are changing. What do you need to think about as full Brexit approaches?
Reassuringly, even if there is a no-deal Brexit, citizens’ rights for UK nationals legally settled in an EU member state by 31 December 2020 are protected under the UK-EU Withdrawal Agreement. There are no such guarantees, however, in the area of financial services, which could affect whether you can continue to receive UK-based advice and services as an EU resident.
You need to make sure you check that your financial planning – and your adviser – will stand up to the challenges that Brexit may bring. Here are four key considerations.
The end of passporting
If you have a good relationship with your UK-based financial adviser, you may understandably wish to continue using them, despite now living in a different country. However, you need to make sure they can legally continue to advise you after the Brexit transition period.
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