STERLING DUNBAR Financial Advisor

[scubascuba3]

Can't you invest via your home country where you know the regulations and know legit companies? If UK, you can check the funds on Hargreaves Lansdown or Interactive investor for free.
I worked in Investment management for a long time, I'd invest via the UK if you can

[Just Weird]

21 hours ago, BritManToo said:

Almost all crooks/dodgy.

Keep your investment advisers in your home country where they are registered and overseen.

Anyone working in Thailand needs to be registered with the Thai SEC, foreigners can't register.

Foreigner's companies can register with the SEC but they don't because they can't meet the requirements.

[Just Weird]

You just need to ask three questions..

Is the company registered with the Thai SEC?

Do you have a work permit?

Do you have any financial qualifications?

 

The answers will be negative.

[Just Weird]

"We will always let the client know if we consider it outside of the perimeters they are looking for".

Semi-literate morons.  Any company that does not understand basic English and then puts nonsense on it's website should be avoided like the plague...even if it were licenced and in the case of SD it is not.

 

"We will always let the client know if we consider it outside of the peramiters they are looking for".

Give the company it's due, though, it has tried to get it's spelling correct on a different page but failed again!

 

Have a look at their laughable "testimonials"!

[Oxx]

18 minutes ago, Just Weird said:

"We will always let the client know if we consider it outside of the perimeters they are looking for".

Semi-literate morons.  Any company that does not understand basic English and then puts nonsense on it's website should be avoided like the plague...even if it were licenced and in the case of SD it is not.

 

"We will always let the client know if we consider it outside of the peramiters they are looking for".

Give the company it's due, though, it has tried to get it's spelling correct on a different page but failed again!

 

Have a look at their laughable "testimonials"!

 

"it's website" (twice)?

 

Pot, meet kettle.

[Just Weird]

4 minutes ago, Oxx said:

 

"it's website" (twice)?

 

Pot, meet kettle.

Yes, twice, on different pages, try reading it's website then maybe you'd understand, nothing to do with the pot meeting the kettle.  And I am not trying to get investment money out of people, SD is.

[CGW]

5 hours ago, BritManToo said:

So no number on the 'newsletter', if they had one, I think they would use it.

Wrong "assumption" - surprisingly - they have and are registered!

[coops]

50 minutes ago, Just Weird said:

Yes, twice, on different pages, try reading it's website then maybe you'd understand, nothing to do with the pot meeting the kettle.  And I am not trying to get investment money out of people, SD is.

Oxx was referring to your mixing up the possessive "its" with the contraction "it's".

 http://its-not-its.info

 

Mind you, it's still not as widespread as the current rash of the greengrocer's apostrophe...

 

 

 

[wordchild]

4 hours ago, scubascuba3 said:

Can't you invest via your home country where you know the regulations and know legit companies? If UK, you can check the funds on Hargreaves Lansdown or Interactive investor for free.
I worked in Investment management for a long time, I'd invest via the UK if you can

Brilliant! top post, and great ,simple advice.

 

[wordchild]

8 hours ago, BobHG46 said:

As honest as the day is long. Gives good advice and directs investors to invest directly with the recommended funds as Sterling Dunbar, run by Colin Wilson,  does not handle any clients' monies. Sterling Dunbar operates under the umbrella of Phoenix Consultants whose office is in BB Building, Asoke. 

except , of course, the lock-in fees, trail fee, and other assorted kick backs that they get a slice of from the client's savings, once they have passed him on to the company that operates the insurance wrap

[wordchild]

4 hours ago, Misty said:

Looks like they sell offshore funds inside an insurance policy wrapper.  The funds are high cost and inferior offerings that generally require this type of platform to get money from investors.  Buyers are locked into multiple years of high commissions payable to the "adviser".  If you try to get out of the insurance wrapper, you pay all the commission up front.  There are tons of good articles about this on the net.  See author Andrew Hallam's book Millionaire Expat as well:   https://andrewhallam.com/category/expat-investing/

This is the point. There is really no benefit for expats to buy anything through an insurance wrapper, no reputable onshore adviser would ever suggest this (these days) . All the benefit is for the adviser , not the client! it effectively locks you into an expensive arrangement that is likely to be costly for years into the future,  and also costly to get out of, once you realize the situation.  

Any adviser mentions "insurance wrapper" or "portfolio bond" run a mile!

[Oxx]

29 minutes ago, wordchild said:

4 hours ago, scubascuba3 said:

Can't you invest via your home country where you know the regulations and know legit companies? If UK, you can check the funds on Hargreaves Lansdown or Interactive investor for free.
I worked in Investment management for a long time, I'd invest via the UK if you can

Brilliant! top post, and great ,simple advice.

 

Except that neither Hargreaves Lansdown nor Interactive Investors (or, indeed, virtually all UK fund platforms) will allow a non-resident to open an account.

 

The tightening of regulation in the UK, for investment and banking services, as left expats well and truly screwed, virtually forcing them into the arms of unregulated, fly-by-night, foreign crooks.

[Misty]

4 hours ago, Just Weird said:

Foreigner's companies can register with the SEC but they don't because they can't meet the requirements.

Some can and do. The first one to do so did in 2006.

[BritManToo]

13 minutes ago, Oxx said:

Except that neither Hargreaves Lansdown nor Interactive Investors (or, indeed, virtually all UK fund platforms) will allow a non-resident to open an account.

I didn't have any problem, just used a UK address for the initial application documents to be sent.

They don't check in any meaningful way.

[Oxx]

3 minutes ago, BritManToo said:

I didn't have any problem, just used a UK address for the initial application documents to be sent.

They don't check in any meaningful way.

 

I suspect there will ultimately be consequences for your deceit.

[scubascuba3]

 
Except that neither Hargreaves Lansdown nor Interactive Investors (or, indeed, virtually all UK fund platforms) will allow a non-resident to open an account.
 
The tightening of regulation in the UK, for investment and banking services, as left expats well and truly screwed, virtually forcing them into the arms of unregulated, fly-by-night, foreign crooks.

Perhaps if it becomes difficult with platforms, go direct to the Fund Managers once someone has picked the unit trusts/OEICs they want to invest in. Should be able to get discounts via execution only brokers. Pick a random big Fund Manager call them and enquire to see if any issues. The T&Cs can be a bit vague

[YorkshireTyke]

5 hours ago, scubascuba3 said:

Can't you invest via your home country where you know the regulations and know legit companies? If UK, you can check the funds on Hargreaves Lansdown or Interactive investor for free.
I worked in Investment management for a long time, I'd invest via the UK if you can

No, as someone else has replied, I don't have a UK address.

 

I was on HL mailing list and replied to a few of their investment offers a year or so ago but was told I cannot invest.

[BritManToo]

5 minutes ago, Oxx said:

I suspect there will ultimately be consequences for your deceit.

Plenty of old fools who walk around town proudly announcing to their banks, DWP, Doctor they are moving permanently to Thailand. Then they all cry when they don't get pension increases, have no financial protection, lose their bank accounts, and can't get NHS treatment for free anymore.

 

Hard to see how any future 'consequences' could be worse, than the immediate effects of that.

[scubascuba3]

No, as someone else has replied, I don't have a UK address.
 
I was on HL mailing list and replied to a few of their investment offers a year or so ago but was told I cannot invest.

Ideally you need to set these things up before you move abroad, same as a backup UK bank account

[wordchild]

financial advisers are dinosaurs, you just dont need them, these days. From my experience, very very few of them have any real investment sense; they just know what products they can earn the most from. There is so much good financial information available for free on the net, with a modicum of financial sense and some time spent on research it should be possible for most people to structure their own (better) long term savings plan. And also save themselves a ton of money in fees and other (often hidden) charges.  FWIW ;

   1) watch the costs like a hawk; buy simple, low cost products, that you can get in and OUT of without fuss or high charges, or without relying on someone else to do it for you. ETF,s or quoted investment trusts are great low cost products. You will rarely get them recommended by offshore advisers because they don't earn any kick-backs from them.

   2)Avoid unnecessary and expensive structures eg portfolio bonds or insurance wrappers. As a tax advantaged expat , you just don,t need  such structures. 

   3)Much better to invest yourself, without an adviser as an adviser is likely to push you toward more expensive products that they can then earn commission from. 

   4)upgrade your own knowledge, spend time online getting to know where you can get good free advice. These days there are some really good investment websites, one I like is The Lemon Fool, lots of helpful stuff on there; but there are hundreds more.

  5) get yourself a decent, reputable, financially sound ,execution only broker,who you can trade through and who will also act as custodian (usually for free) ie hold the assets on your behalf and ensure dividends etc  are credited to your account. They will also provide you with the basics you need for portfolio management ie an execution portal and also an account view where you can check on the portfolio. 

  6) In general i would say, better to have your account outside Thailand, for tax planning reasons. There are still, i believe, a number of UK brokers who will accept non resident clients;  a non UK broker who will (last time i checked) accept Thai based expats i have heard good reports about Internaxx in Luxembourg, but there are others.          

[steve73]

On ‎3‎/‎13‎/‎2019 at 2:06 PM, YorkshireTyke said:

No, I replied to an ad somewhere recently.

Ads can be run on internet sites very cheaply, especially "free sites", or your e-mail address can get used for mail-shots.. It can be very difficult to remember which sites you actually "visited" and which one got pushed on you.

Even recommendations from trusted friends can be dodgy, since they can get taken-in sometimes over a period of years, whilst the relationship develops.

 

Best way to invest is directly into companies you want.  Or via listed investment trusts or unit trusts if you want to spread the risks (or gains) and are happy to pay a significant management fee for the privilege.  They may only deduct a (typical) 1% fee, but there are additional hidden costs you don't see, and if your fund is only making a 4-5%/yr gain, your fee can be 20-25% of that.

[wordchild]

There is no real legal impediment that prevents UK brokers from taking on overseas customers. The reason some don't want to is more to do with their own internal compliance requirements and the extra hassle (expense)  involved in taking on a NEW customer without a UK address. They need to demonstrate (to their regulator) that they have made the required checks and that is just (a little) more difficult in such a case , easier just to say "computer says no".  

[Just Weird]

17 hours ago, Misty said:

Some can and do. The first one to do so did in 2006.

You're right, of course, but, generally, expat "financial advisers" do not as they cannot.  That is not because they, as foreigners, are prevented from doing so by SEC regulations but because they do not meet SEC requirements.  That is what I was referring to, with specific reference to the illegally operating Sterling Dunbar.

[YorkshireTyke]

18 hours ago, scubascuba3 said:

18 hours ago, YorkshireTyke said:

No, as someone else has replied, I don't have a UK address.
 
I was on HL mailing list and replied to a few of their investment offers a year or so ago but was told I cannot invest.

Ideally you need to set these things up before you move abroad, same as a backup UK bank account

I do have a UK bank account plus several offshore accounts but I left the UK 17 years ago in 2002.

[Pravda]

Sterling <deleted> more like it

[bouph12]

17 hours ago, BritManToo said:

Plenty of old fools who walk around town proudly announcing to their banks, DWP, Doctor they are moving permanently to Thailand. Then they all cry when they don't get pension increases, have no financial protection, lose their bank accounts, and can't get NHS treatment for free anymore.

 

Hard to see how any future 'consequences' could be worse, than the immediate effects of that.

Here's a different perspective to consider:

 

Everyone relevant is aware that I live in Thailand.

 

Pension increase?

I agree that I won't get it, however:

A UK resident pays tax over their Capital Gains Tax limit. Residents here don't.

A UK resident's estate pays 40% tax on amounts over their Inheritance Tax limit of c. £450k.

Residents here pay 5% tax on amounts over the Inheritance Tax limit of 100 million THB.

Lots of people who would be caught in the UK won't have to pay anything if they establish Thailand as their Domicile of Choice. It's quite a pleasant future consequence.

Those tax savings are of more value to many than a couple of hundred pounds pension increase a year.

 

Financial protection?

My Internaxx investment account is based in Luxembourg. They have full bank status and deposit protection of 100,000 Euros – more than a Hargreaves Lansdown account.

 

Loss of bank account?

I still use the same Nationwide account I've had for thirty years.

 

Free NHS treatment?

If I needed it that badly, I'd go to the UK and declare that I was back for good.

I'm not sure I'd want to, though:

https://www.theguardian.com/society/2015/jul/14/avoidable-deaths-nhs-hospitals-study

 

I've been in Thailand for the last decade and not one of your “ Immediate “ effects has kicked in yet.

 

 

[Oxx]

15 minutes ago, bouph12 said:

A UK resident's estate pays 40% tax on amounts over their Inheritance Tax limit of c. £450k.

 

A couple of things wrong with that.

 

(1) Non-residents also pay inheritance tax on their estates - in fact, on their worldwide estates (including assets in Thailand).  It's only non-domiciled individuals don't pay IHT on their estate.  It's incredibly hard for someone born in the UK to lose their UK domicile.  It's also something that in normal circumstances can't be determined before one's dead leaving a large degree of uncertainty.

 

(2) The IHT limit is currently GBP 325,000.

[BritManToo]

1 hour ago, bouph12 said:

A UK resident's estate pays 40% tax on amounts over their Inheritance Tax limit of c. £450k.

I don't have any assets, apart from my pensions, and an old Honda click.

My former Brit wife had everything else off me before I moved.

[Misty]

4 hours ago, wordchild said:

There is no real legal impediment that prevents UK brokers from taking on overseas customers. The reason some don't want to is more to do with their own internal compliance requirements and the extra hassle (expense)  involved in taking on a NEW customer without a UK address. They need to demonstrate (to their regulator) that they have made the required checks and that is just (a little) more difficult in such a case , easier just to say "computer says no".  

Legally UK brokers cannot sell UK domiciled unit trusts across borders. (Same goes for brokers in any country - unit trusts cannot be sold across borders.)  Unless a UK broker is set up to keep client accounts with UK addresses separate from clients with non-UK addresses, they may not take non-UK clients at all.  Exceptions may be made for investors with large portfolios.

[steve73]

11 hours ago, Benroon said:

...

The only absolute exclusion is no ISA investments that I'm aware of.

 

Every budget though I do hold my breath until I'm sure the small print doesn't say the 25% SIPP tax free sum will be removed from expats!! 

 

If you already hold an ISA(s) when you leave the UK (specifically, if become non-resident for UK tax purposes) you can keep trading within it - you just cannot make any further annual additions to it, although as a NR you are not liable to any (UK) CGT from sales of purchases made whilst you are NR anyway (I think even if after you have returned).

 

If you move your pension from a SIPP (or other type of pension) to a QROPS, you can take upto 30% of the value as a tax-free lump sum, although I understand there is now tax to pay if you do move it.. (there wasn't when I moved mine.)