News & Insights

A number of United States Regulators have joined The Global Financial Innovation Network (GFIN) – an alliance comprised of more than 50 financial organisations from across the globe – in what is likely to prove a positive development for non-resident aliens and other cross-border individuals in the United States.

In an October press release made by the U.S. Securities and Exchange Commission (SEC) it was announced that the SEC, the Office of the Comptroller of the Currency (OCC), the Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Corporation (FDIC) have all become members of GFIN.*

The single most important retirement question faced by most British retirement savers boils down to what they should do with their pension. Yet for British nationals living in the United States this decision is likely to be even more profoundly important. Not only must they grapple with the usual questions regarding a potential pension transfer or drawdown, they must also consider the complexities inherent in their cross-border situation. All in all, the stakes are high and, in these circumstances, planning and advice are everything.

For some non-resident alien retirement planners in the United States municipal bonds represent a useful way to preserve wealth while also creating a tax-free income stream. According to the Internal Revenue Service (IRS), they are an item "of income excluded from gross income, without regard to the U.S. or foreign status of the owner of the income".*

Ever since the 2015 introduction UK pension freedoms, pension transfers have been central to the wealth management and retirement planning strategies of hundreds of thousands of individuals with UK-based defined benefit pension schemes.

However, given that it is only four years since their introduction, it is safe to say that these pension freedoms remain in their infancy and there is, perhaps, room for further evolution in this area.

Our new "Spotlight On…" feature focuses on the team and will offer insights into their specialist services for Blacktower clients in the US.

In our new TOP TIPS feature our experts provide essential information and guidance on the issues that affect expats in the USA.

As part of our new NEWS WRAP feature we take a look at an industry-related news item which directly affects our business and our clients.

In our new FAQ feature, Chris Thornton, Country Manager in the US, answers a frequently asked question about the relevance of currency and exchange rates in retirement planning.