Tuesday, 10 September 2013


Where are your savings?

I have been surprised to learn just how many British and Irish citizens, living in Spain continue to keep their savings in the UK in sterling. Apart from interest rates lower than inflation, there is always an exchange rate risk.

In April 2013, the Financial Conduct Authority (FCA) took over most of the powers of the previous regulator the Financial Services Authority (FSA). Naturally, the new regulator wants to show it means business and the latest announcement affects Savers.

·        Inflation on the agenda

·        What interest rate are you getting?

·        Do you have a financial plan?

Many UK and Irish residents in Spain still have significant Savings in UK Banks and Building Societies. There are a variety of reasons for this but the one which concerns me most can be called ‘inertia’.

 “I should do something about it but I never seem to get round to it!”

The FCA says you should, and so do I

This announcement may affect you;

“Savings ‘teaser rates’ face FCA enquiry”

You may also want to be proactive yourself. If you want any of the following please email me

  • Protect your savings from exchange rate fluctuations
  • Protect interest rates from taxation
  • Get good returns
  • Have a general review of your finances

After over 20 years as a financial adviser myself, I now specialise in writing about the subject. I have many, many contacts of advisers that I trust and know. I am happy to refer readers of ‘Financial Pages in Spain’ on a no obligation basis. Just email me a few details and I will get you the best advice possible.

Further reading from ‘Financial Pages in Spain

 Getting Professional Advice

Getting a Second Opinion

QNUPS – written under ‘pension rules’ but highly flexible to protect your assets from tax

David Goodall
Financial Pages in Spain