Expat - What to do with 140,000 GBP

Olof76

I am an expat and will not be returning to the UK in the near future. Having said that, I have recently come into some money and would like to know what my options are with respect to keeping/investing it in the UK. I'm pretty new to investing, but I'm told by many this could be a fruitful avenue. I'm not so keen on the idea of buying property.

As you will have seen from my previous post, I was recently contacted by a 'wealth manager', however I'm now concerned that perhaps this isn't the best path. My parents, who are UK residents, are currently with St. James and are extremely happy, however.

Any advice would be greatly appreciated as I'm extremely new to all this.

Thanks!

jimjames

Same advice as your other thread.

Find a UK based IFA. St James are not IFAs I believe so they can only sell products for the company they represent.

Olof76

Thanks, jimjames. I think the sensible option is to speak to a UK based IFA when i'm next visiting. Just as you suggested.

gadgetmind

Olof76 wrote: »

My parents, who are UK residents, are currently with St. James and are extremely happy, however.

I'm willing to bet that St James' are even happier. They charge like wounded rhinos, so a fair slug of the client's total return (on which they are taking all the risk on) will be going into the pinstriped pockets of St James'.

Olof76

So Gadgetmind, who would you recommend as an alternative?

atush

I would suggest looking at any banks in the UK you currently bank with- for savings and current accts that pay interest.

Any that will allow you as a non resident to open one.

at any tax friendly accounts in your country of domicile be they pensions. isa/type etc.

To any uk brokers that will allow you to invest in unwrapped UK accts (is non pension/isa). To any UK investment trust savings plans that will allow the same.

gadgetmind

The ex pat element adds a extra twist, but it boils down to learn how to DIY or find a good IFA. SJP are not IFAs and basically use slick sales tech to sell you their own brand products.

RetiredInThailand

Olof76 wrote: »

I am an expat and will not be returning to the UK in the near future. Having said that, I have recently come into some money and would like to know what my options are with respect to keeping/investing it in the UK. I'm pretty new to investing, but I'm told by many this could be a fruitful avenue.

I like to stay away from IFAs and other vampires.

You dont say whether you want "secure" investments like bank deposits or whether you want some potential for growth and, if so, how much risk you are prepared to take. You also dont say if you are resident in the EU or not. All of this is important.

At my age I have 65% in cash on long TDs (still paying just under 5% gross for another year or two) and most of the rest in stocks. For stocks I prefer index tracking ETFs and a couple of dozen choice shares that pay high dividends or have some take-over or long-term growth potential. I also occasionally buy known good stocks that have suffered some sort of unexpected problem and I usually get some profit on the rebound.
I do keep a daily eye on prices and am prepared to sell everything instantly if something bad happens, which it may.

I trust my reactions far more than those of any IFA.