Wealth managers in the UK say that American customers are transporting money to Britain

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Wealth managers in the United Kingdom say that inquiries from investors in the United States are concerned about the actions of Donald Trump and its administration and seeking to transfer funds from the country significantly.

I told Rathbones, RBC Brewin Dolphin, Evelyn Partners, and Schrooders Cazenove, Financial Times, that more customers who are looking to move more of their wealth to the United Kingdom, while others have already done so.

“There was a significant increase in customer’s new and assets’ inquiries,” said Toby Glove, CEO of Schrooders US Wealth Management.

Nick Richie, the first manager of RBC Wealth Management, said the number of inquiries from American customers is “significantly higher” compared to Trump’s first state in his position. He added that the customers, the customers, are looking to move “between 5 and 50 percent” of their wealth to be managed in the United Kingdom or in the canal islands, with most of them at the bottom end of the scale.

He said that the moves were driven by “safety and security concerns,” adding that “he had two wealthy clients who took one step forward and transferred the assets to confidence instead of keeping personal names … adding an additional layer of protection.”

“It is their smuggled money,” said James Plus Lynch, investment manager at Rathbones.

He said: “I had a client on the last day that he re -put his money to put his quarter here (run by Rathbones in the United Kingdom) while before it was a much lower amount,” adding that he was still “the first days” in the new presidency, but those discussions with other customers were “gathering momentum.”

On Wednesday, the Trump administration The sweeping definitions were announced We have imports. The market responded with $ 5.4 trillion of American stocks over the next two days.

“There is increasing concern that the president is working more and more outside the current rules and agreements, and can change legislation that affects the ability of investors to invest in markets and foreign workers,” said Roy Klose, chief investment manager at Canaccord Wealth.

The increase in the interest of the United States comes as the other wealthy individuals were leaving Britain after the government canceled a “non -perpetuity” system that provides less taxes for people who are not headquarters in the United Kingdom but living in the country.

“Most of the wealthy international people are away from the United Kingdom, but we certainly got more inquiries from the Americans,” said Nick Reeves, a financial plan in Evelyn Partners. He added that he had one agent who wanted to transfer assets from the American legal system to buy UK’s property in the event of asset attacks.

Instead of uninteresting, the new UK residents will be exempt from foreign income tax and gains in the first four years, provided that they are not residing over the past ten years.

Four years later, they have to pay an income and gain tax all over the world. Some advisers believe that people use the UK as a stopping gap while they are in a long -term plan.

“The United Kingdom may be a bit of car park,” Richie said, adding that customers were exploring the move to Italy, Switzerland and Dubai, but “parking in the UK for a long time while exploring other options.”