Plan First Wealth provides British expats with peace of mind and confidence, by simplifying the complex world of cross-border retirement planning & US/UK wealth management by treating them as people, not numbers.
We have designed what we believe to be a unique proposition. There are some great financial planning firms in the U.S. but very few cater specifically to British expats and our unique needs, and fewer still can advise upon and manage both US and UK assets.
Who is this for?
Our stand-alone financial planning proposition is designed for any British expatriate living in America, usually aged 50+, who has one eye on “what next?”
What next? is whatever you call it – retirement; financial independence (i.e. working because you want to not because you have to); travelling; volunteering; consulting, sitting on a beach all day, competing in Ironmans, learning French etc.
Any British expatriate who has every wondered (or worried) whether they can afford to retire here or whether medical expenses will prove prohibitive
Any British expatriate who has worried about tax and their immigration status.
Any British expatriate who has ever wondered if they are unwittingly falling into the common expat traps that arise as a result of the additional and often nonsensical reporting requirements we are subject to.
For any British expats living in America who just want some clarity, confidence and peace of mind that they can continue to live their desired lifestyle into retirement – whatever that may look like for them.
Here are the three elements to our planning proposition:
Are you living your Best Life?
This is where we start. How can we advise you on your financial situation until we know what you want out of life? Without that knowledge, we are not in a position to advise you on investments or analyze if your financial plan is on track.
Life-Centered Planning is a serious exploration into what is important to you, what, and who really matters in your life. Not only do we want to generate a good return on your wealth, we also want to help you to use your wealth to live a better life.
Otherwise, what’s the point?
Are you on track to retire and achieve your financial goals?
Once we know what you want your life to look like we can build a financial model around achieving that. This is number crunching time and it can be intense. We use sophisticated, interactive software, but it still involves effort on both sides to get it right.
Once it is built – once we have “Base Camp” as I like to call it – and you know someone else is watching over it all and is aware of everything that is going on, you will feel a great sense of control and relief.
Then, watching your life unfurl in front of you, being able to tweak, plan, test and understand – you will have clarity like you’ve never experienced.
At this point, we will be able to identify what type of client you are:
- Got too much – we help these clients spend more, do more, and avoid “leaving life on the table”. We also encourage them to gift money to those they care about during their lifetime so they can experience the joy their generosity brings.
- Not enough –we help these clients understand their position and formulate a plan to get them back onto the right path – one of fulfillment and peace of mind
- Just enough –we help these clients know that they are going to be OK. By demonstrating this we free them up to enjoy their futures and spend on the things, people and experiences that they might not otherwise have done.
Once we know which sort of client you are, we will be able to help you understand your situation and take steps to unburden your mind and live and spend appropriately.
The confidence that comes from this will change your life.
What products and investments should you own and how should they be structured?
Once we know what’s important to you – once we’ve built your model and we know what sort of client you are then – now we are in a position to advise you what to do with your money.
Your Life Plan informs your Financial Plan, which we use to direct us on what investments, pensions and portfolios you need (and how much risk you need to take). Logically, this is the way it should be, even if you are more used to being rushed straight to the product.
We are not CPAs meaning we cannot prepare tax returns or provide tax advice. However, we will analyze your tax return to provide you with some tax observations that we can use to drive financial planning decisions and you can use in conversations with your CPA.
We will provide an analysis of your existing portfolios, including 401ks etc. and, if appropriate, make recommendations.
We specialize in working with British expats, we understand British state benefits and how they interact with the US system (see our Windfall Elimination Provision Blog).
We can advise on British pensions (Considering a UK Pension Transfer? This Is For You), we can manage SIPPs and QROPS and we are usually familiar with most legacy UK assets you may hold.
We do everything you’d expect from a US investment advisor including managing US-based assets.
We provide integrated life, financial and investment planning to British expats living in America and I believe we are the only company who does this to the extent we do.
We want to help you manage your wealth and your expatriate status in a way that improves your life, not just your net worth.
We want our clients to enjoy better outcomes, across a variety of measures – financial and personal – as a direct result of working with PFW.
We offer this as part of our ongoing service to clients with more than $500k invested with us or as a stand-alone service – you do not need UK pensions and/or US assets to go through this and you are not required or expected to become an ongoing client upon its conclusion (although you will of course be welcome to).
If you’d like to know more, please do get in touch: +1 646 201 6865 and/or firstname.lastname@example.org
Plan First Wealth is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.