deVere Investor Insight - Q1 2021

Please Note: The above is for information only and does not constitute advice. No liability can be accepted for any actions taken or refrained from being taken as a result of the above. Investor Insight // Q1 - 2021 15 Yes, there are some quite serious issues for a UK authorised IFA who had and presently has clients in Europe following the transitional period of Brexit ending 31 December 2020. From 1st January this year, all UK financial advisers are considered third country firms who have provisionally (depending on each EU jurisdiction) been allowed to maintain the validity of their permissions in the EU until 30 June 2021 and either orderly terminate such clients or assign the clients to an IFA firm who does have the relevant permissions. I would add that it is possible and it could well be that no deal on financial services “equivalence” is struck. deVere in Europe has local licences in most of the main jurisdictions in the EU and passports into other EU states from Italy and Hungary so all our clients have no concerns about Brexit regarding regulation and licensing. I’m resident in Europe & have various investments legally able to continue making use of the service. Can you please explain what rules apply? that I’ve received advice on from my UK Financial Adviser. I believe that following Brexit, I may not be