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Opening up About Money – Easy or Not?

Unfortunately, however, if you are an expat living in the United States, this can be difficult; British people and Americans may share a language and a similar culture, but the cultural differences which exist often seem magnified when it’s time to sit down, face-to-face, to talk about money.

Not just a question of technical expertise

Although technical expertise and detailed cross-border financial knowledge are essential requirements of the expat wealth manager, these things can count for little if they are not complemented by an easy understanding of the client’s culture and outlook.

This is one of the most frequently overlooked components of financial advice: the human factor. Because good financial advice is as much about conversation and communication as it is about technical expertise and detailed strategy. For example, it can be difficult to help the client understand how their emotions might influence their investment decisions during times of market volatility if the advisor and client are not using the same emotional vocabulary.

A British-based service in the United States

Blacktower (US) LLC is marked by a British approach and a largely British staff, so we can bring the familiarity and clarity of a British-style financial advice service to expat clients in the United States.

And because we marry this British approach to financial advice with a detailed technical and practical understanding of the US market, as well as the unique UK-US cross-border retirement planning considerations, we believe that we should be the first-choice financial advisor for any British expat in the US, wherever you are based.

However, you don’t have to be British to enjoy the Blacktower advantage, we have a broad range of staff whose varied experience ideally places them to work with clients from across the world and also for American expats who are living, working or retiring in the EU.

For more information, speak with us today.

* Figures quoted by Kathleen Burns Kingsbury, founder of KBK Wealth Connection, on CNBC: https://www.cnbc.com/2019/04/30/the-us-is-in-a-financial-literacy-crisis-advisors-can-fix-the-problem.html Accessed 19-07-19

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Move Abroad for Your Retirement?

Retirement planning for most is about ensuring that we are safe, secure, happy and, hopefully, free of financial worries in our later years, while for some it is also about providing a legacy for heirs, whether family, friends or charity.

But in the United States achieving these goals is notoriously difficult. Not only do US citizens have to worry about the cost of healthcare, they also have to deal with a demanding Internal Revenue Service that can sometimes seem to undermine their goals.

It’s little wonder then that many of the most enterprising and adventurous Americans choose to retire abroad. Not only can such a move be a rewarding new chapter in people’s lives, it can also offer practical financial benefit – for example, access to free or affordable healthcare and a wealth of investment opportunity, especially in regard to pensions. It can also improve health in other ways as countries like Spain, Portugal, Italy, Japan and the Nordic and West African nations all have national diets that are proven to be very healthy – by contrast the US ranks last among industrialised nations in terms of the healthiness of its diet.

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