Warning to thousands of expats across Europe: due to post-Brexit rules, many UK banks are planning to close accounts and cancel credit cards.
The majority of the UK’s major banks are now writing to clients in the EU to inform them that all services will be scrapped unless they can provide a UK address.
Accounts will be closed and credit and debit cards cancelled, irrespective of the amount of funds held in these accounts, or the length of time you have been a client, as it is Read More
The UK Prime Minister’s contentious plans to rewrite parts of the Brexit withdrawal agreement could result in a substantial exodus of wealth from Britain.
As the European Union demands the UK abandons plans to modify the Brexit deal by the end of September or be at risk of trade talks dissolving, an intense war of words has ensued.
As it stands, the EU now says no trade talks will happen, therefore with no chance of a deal, unless the UK stops its recently Read More
The pound is set to encounter substantial volatility this week, and would drop to 1.20 against the dollar should there be a no-deal Brexit, which is looking more on the cards every day.
On Monday the pound lost 0.6% and another 0.2% in early Tuesday trading, as the penultimate round of Brexit talks kick off in London.
As I was quoted by The Guardian, concerns over a no-deal Brexit scenario are impacting the pound this week, dragging it lower against several Read More
Despite rising steeply over the past few days, the pound is still incredibly vulnerable, however it’s crucial that families and investors must not become complacent in terms of substantial declines.
Sterling has hit a 12-week high against the euro and reached new highs against the U.S. dollar. Indeed, the pound has enjoyed an impressive run recently as risk appetite improves amongst investors, partly due to stronger than forecast data.
That said, it’s vital to closely Read More
As UK Chancellor Rishi Sunak looks set to hike taxes in the near future, I would urge higher earners to take action now to mitigate the possible substantial hit to their finances.
Mr Sunak is seeking to boost taxes in order to finance the UK’s recovery from the coronavirus crisis.
Sunday’s newspapers reported that the Treasury is devising new plans to generate at least £30bn a year to help cover the huge public spending due to the pandemic.
The Read More
The weak U.S. dollar and the U.S. presidential election will be two high-octane drivers for Bitcoin’s price in 2020.
Campaigning for the upcoming election has now stepped up to a crucial stage as Joe Biden formally accepted the Democratic nomination last week.
In addition, the dollar plummeted to a two-year low on concerns over the health of America’s economy.
Currently, the world’s largest cryptocurrency is one of the best-performing assets of the Read More
A rising number of UK and global investors will move their assets overseas as the country enters its worst ever recession.
It was announced on Wednesday that Britain’s economy suffered its largest decline on record between April and June as coronavirus lockdown curbs drove the UK officially into recession.
Indeed, the economy contracted by 20.4% compared with the first quarter of 2020.
This is the deepest recession in UK history, and the deepest ever of Read More
I’m thrilled to announce that deVere Acuma has been named Best Independent Financial Advisory UAE 2020 in the International Business Magazine Awards.
What an honour!
These prestigious annual awards are highly esteemed across the globe. According to the publication: “International Business Magazine Awards is established with the prime objective of admiring the best in class achievements pertaining to budding industrial talent, global leaders, corporates Read More
deVere recently carried out a survey which revealed 60 per cent of higher earners in the UK, or people living abroad with financial links to Britain, are worried about the adverse impact of the November Budget on their wealth.
Indeed, when questioned if they had concerns Chancellor Rishi Sunak would have to increase taxes to help plug the government’s funding gap, 62% said ‘yes’, 17% responded ‘no’ and 21% didn’t know.
A total of 663 deVere Read More
Bitcoin is due to surge this week as it safeguards its status as a safe haven as tensions heighten between the United States and China.
The price of Bitcoin – the world’s largest cryptocurrency by market cap – rallied beyond the $10,000 key resistance marker this week, and now all eyes are on the critical $10,500 mark.
As I was quoted by various media outlets including The Independent, Business Insider and Market Watch amongst others, Bitcoin bulls and Read More
More and more Brits are moving to buy dollars due to weakness in the greenback coupled with fears over a plummeting pound.
The Dollar Index fell 0.5% on Monday, trading at levels we’ve not seen in over two years.
This sharp dollar sell-off is viewed by internationally-minded Brits as an opportunity to purchase dollars as they fear a steep plunge in the pound in the event of a no-deal Brexit – which is looking increasingly to be the case.
The dollar is being impacted by Read More
Company pensions are becoming more and more untenable following the decline in government bond yields and low rates.
Since the Coronavirus crisis hit, the yields of government securities – in which pension funds heavily invest – have fallen considerably.
Traditionally, institutional investors, like pension funds, have always invested in government bonds, as they’re broadly viewed as a safe haven.
Nevertheless, we’ve seen the world change dramatically over the past Read More