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Expats need a Conseil en Gestion de Patrimoine adviser

Sponsored article: More and more French asset holders are using the services of a Conseil en Gestion de Patrimoine (CGP). The word “patrimoine” doesn’t have a translation into English, but it refers to a family’s assets that need protecting, from real estate to deposit accounts and antiques. Daniel Butcher, founder of DTB Wealth Management (DTB), explains.

27 October 2020

“As an expert in legal and financial affairs, a CGP aims to fine tune your legal and financial matters so they run smoothly and produce the best results possible.

“A CGP stands for a firm or qualified person experienced in areas such as insurance, banking, finance, mortgages, inheritance, family and notarial law, healthcare and property investment, as well as other general matters.”

International CGPs are also specialised in these areas, but are able to work globally, allowing asset holders to take advantage of international conventions, rules and legalities across their portfolio.

An international CGP may hold UK and French qualifications and be referenced by both the Financial Conduct Authority (FCA) in the UK and the Autorité des Marchés Financiers (AMF) in France. This is what DTB offers.

“It is unlikely a local notaire, accountant, banker or British international financial advisor will have the full knowledge, experience, or the qualifications to give a global independent, expert and unbiased answer,” says Daniel.

After moving to France in 2019, retirees John and Caroline Smith asked DTB to get their tax, inheritance and asset management in order. DTB contacted HMRC in the UK and helped them to register with the French Tax authorities.

With two children from previous marriages, they needed to protect Caroline in case John predeceased her.

“If nothing was done, she could find herself sharing their French property with John’s children,” Daniel explains. “To avoid this, we advised them to sign a Donation aux Derniers Vivants and arranged a meeting with a notaire who could help them finalise the paperwork.”

DTB also helped John transfer a UK pension and ultimately reinvest it in a French multi-currency Assurance Vie adapted to British expats living in France.

With end of the Brexit transition period fast approaching, DTB is also advising the Smiths on how to obtain their carte de séjour and helping them find the best healthcare top-up policy for their needs.

“This is just an example of the complete transversal service we can offer the British expat community in France,” says Daniel. “Every family has their own unique set of needs and we are proud to offer our clients thoughtfully designed, tailor-made solutions.”

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