HELPLINE: 
How Brexit Created a Financial ‘No Man’s Land’
You may no longer have legal access to financial advice for UK assets.
The problem. Brits living in France often don’t realise that post-Brexit rules have cut them off from their UK financial advisers. While pensions, ISAs and investments may still be in the UK, the UK-based adviser can no longer legally give advice once their client becomes a French resident. At the same time, French advisers often can’t step in.
The cause. Before Brexit, UK advisers could “passport” services into France. Now, the UK is a “third country” under EU law (under EU financial regulations MiFID II), they can’t legally provide regulated advice to clients living in France or manage their UK portfolio. At the same time, French advisers can’t access or manage UK pensions, ISAs or investment platforms unless they hold rare UK permissions.
The result. Many find themselves in a regulatory “no man’s land” because far from their British advisor being able to continue, advice must be regulated by the location of the client, so if you live in France, advice is cross-border business.
Practical action. Three approaches to the problem are:
- Identify dual-authorised firms (UK and EU-regulated) before you move.
- Consider consolidating pensions into an international SIPP (ISIPP) or QROPS.
- Work with regulated French advisers familiar with cross-border situations, though they can’t manage UK platforms directly.
As cross-border specialists, DTB Wealth Management can bridge your advice gap, please book a 20-minute discovery call to find out how.