Living Abroad: BestInvest/Allenbridge/Saunderson House?

skiscubadiving

Hello, first time poster here.
I am moving to Asia permanently, just sold my flat and plan to retain (a very large six figure) part of the sale proceeds here in the UK (or off shore) for investment.

I am planning to put 10% of the money in a instant access (or short notice)account which pays interest GROSS (off shore?), the remainder I will put in a Balanced Growth Portfolio (consisting of 15-20 unit trusts) which will be selected and managed on an advisory basis by one of the above IFAs.

Anyone has any comments/experience on these advisors?...or any other suggestions?

Many thanks.
Ps I saw and had already a look at the other thread on living abroad.

brodev

I know nothing of the other 2 but I have used bestinvest for some 5 years and I am happy with them. I believe also https://www.hargreaveslansdown.co.uk. is good. You may be able to deposit your money with an online bank like egg, cahoot or smile and register as a non tax payer and get your interest tax free. They usually pay a better rate than offshore

EdInvestor

Rather than a judgement on the IFA, I'd suggest you'd be better to post their advice on fund selection and ask for comments on that.

Cook_County

I am perplexed if you are moving permanently why:
a) You want your savings to remain in Sterling.
b) You have not mentioned the tax regime in the country you are moving to (UK based investments may be penally taxed there).
c) You do not mention any steps to reduce or avoid UK inheritance taxes in your plan. Based on the plan you have outlined so far your worldwide estate would remain liable to UK IHT on your death.
I know this comment is in the negative, but I am not sure without further information that this forum can provide adequate information?

dunstonh

Rather than a judgement on the IFA, I'd suggest you'd be better to post their advice on fund selection and ask for comments on that.

Given that many of the posters here dont have a clue about building portfolios based on different attitudes to risk other than their own, that could lead to a load of incorrect information being given out.

If 15-20 funds are being recommended, then there is likely to be little concern compared to perhaps 1-5 funds being recommended.

skiscubadiving

Cook_County, I am not UK domiciled so no worries about IHT....and IT. I just want my money managed by a UK IFA.

Basically I just need a decent IFA....the above three I knew already and have initial meetings lined up.

Cook_County

Excellent news that you are not-UK domiciled but then surely you'd want most of your savings (except cash) held offshore to avoid UK IHT on UK sited assets.

I guess you'll also need an IFA who is familiar with local laws and tax laws in the jurisdiction that you are moving to so that s/he can give you best advice?