IFA’s Growth Fuelled by Buying Abroad

IFA’s Growth Fuelled by Buying Abroad

A bridgend firm of independent financial advisers has expanded into Cardiff. As part of its next phase of expansion, Future Asset Management has opened a branch in Cardiff Bay. Established 18 months ago, the firm focuses on high net worth and corporate clients, and through newly established Future Asset Management Ltd, concentrates on investment property opportunities abroad, focusing on Spain and Bulgaria’s Black Sea coast, as well as the winter sports centre of Bansko.

Director Mr Wingar said, ‘Our fee-based formula has proved popular with clients because we are able to offset costs to some extent against the products we offer, which is also tax-effective.

‘The additional expertise we have now recruited in the mortgage and financial planning fields will help us to provide an even better service.

‘On the property investment side, yields from the holiday-let market – currently between 4 to 5% in the UK – in Bulgaria and parts of Spain are above 10%, even without capital growth.

‘This might persuade even more people to dip a toe in, once they are comfortable with the idea of owning a property abroad.’ Mr Underdown, also a director, added, ‘Equity release on one property in order to invest in another is not a debt, but a savings plan, It is estimated that 750,000 people in the UK will become second home owners in the next 10 years.’

Source: Western Mail