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Financial Planning
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With you at every stage of your journey
This is the time when you are establishing yourself in your potential chosen career. You may be trying to find a company where you fit in or have decided to start your own business. Primarily, you have yourself to consider and can take advantage of exploring different avenues at home or abroad.
With this is mind you need start considering certain options such as:
Zac is 28 and after finishing University, he spent a few years travelling the world.
He has now started a job with an engineering company and is looking forward to building his career. In Zac’s current position, where he only has to think about his own needs and financial requirements, he is fortunate to have some money left after expenses at the end of each month.
In his position and stage of working life, Zac would be advised to put aside some money to build a 4-to-6-month financial reserve which would help carry him for a time should his job situation change.
In addition, he should consider opening an investment account which would allow him to get started on his investment journey, and which would allow him to understand and take advantage of compound interest and bid-offer-spread.
It is a great time to start benefiting from compound interest.
Compound Interest can simply be explained as “interest on interest” which means that you can earn interest not only on the initial capital invested, but on the interest (money paid to you by the bank for holding your capital) you receive on top of the capital invested.If you have questions or would like some guidance on any of the above-mentioned elements linked to this stage of life, please book a free initial consult here.
Zac is 28 and after finishing University he spent a few years travelling the world.
He has now started a job with an engineering company and is looking forward to building his career. In Zac’s current position, where he only has to think about his own needs and financial requirements, he is fortunate to have some money left after expenses at the end of each month.
In his position and stage of working life, Zac would be advised to put aside some money to build a 4-to-6-month financial reserve which would help carry him for a time should his job situation change.
In addition, he should consider opening an investment account which would allow him to get started on his investment journey, and which would allow him to understand and take advantage of compound interest and bid-offer-spread.
It is a great time to start benefiting from compound interest.
Compound Interest can simply be explained as “interest on interest” which means that you can earn interest not only on the initial capital invested, but on the interest (money paid to you by the bank for holding your capital) you receive on top of the capital invested.If you have questions or would like some guidance on any of the above-mentioned elements linked to this stage of life, please book a free initial consult here.
By this stage in life, you likely have an established career and may have established your own or be contributing to your company pension. You may have a family to consider and need to bear in mind those unforeseen events that may occur.
You may have a comfortable level of wealth and need to consider protection, or you may be looking to establish long-term wealth with a view to your retirement. With this is mind you need start considering certain options such as:
- Life insurance
- Income protection
- Establishing a Will and Power of Attorney
- Pension benefits
- Comprehensive Financial Planning
Nick is 40 years old and is a married father of two sons. He has been working as a Finance Manager for the last 15 years and sees himself in this role for the remainder of his career.
Whilst Nick is in an established position at work, his personal financial planning needs some “fine tuning”.
Nick does not have any long-term financial plans in place, and although he is a member of his company’s pension scheme, he has not given consideration to what would happen in the event of losing his job or worse still, losing his health.
One of the first things Nick should consider, is to establish a “financial reserve”. This is usually in the region of 3 to 6 months of household expenses and should be easily accessible.
Thereafter Nick needs to consider protecting the most valuable asset his family has, which would be Nick himself and his future earnings. This would be achieved by establishing a life Insurance policy that would ensure his wife and sons have a secure level of future income, should the worst happen.
With these insurance policies in place, Nick and his wife would then be advised to set up a Will and Power of Attorney to ensure their wishes are carried out in the event of disability or death.
The final part of the financial planning process at this stage is to ensure that his long-term investing and retirement planning are in place. This includes making sure Nick is maximizing his contributions towards retirement plans and ensuring that his investments are growing in line with his expectations.
If you have questions or would like some guidance on any of the above-mentioned elements linked to this stage of life, please book a free initial consult here.
Nick is 40 years old and is a married father of two sons. He has been working as a Finance Manager for the last 15 years and sees himself in this role for the remainder of his career.
Whilst Nick is in an established position at work, his personal financial planning needs some “fine tuning”.
Nick does not have any long-term financial plans in place, and although he is a member of his company’s pension scheme, he has not given consideration to what would happen in the event of losing his job or worse still, losing his health.
One of the first things Nick should consider, is to establish a “financial reserve”. This is usually in the region of 3 to 6 months of household expenses and should be easily accessible.
Thereafter Nick needs to consider protecting the most valuable asset his family has, which would be Nick himself and his future earnings. This would be achieved by establishing a life Insurance policy that would ensure his wife and sons have a secure level of future income, should the worst happen.
With these insurance policies in place, Nick and his wife would then be advised to set up a Will and Power of Attorney to ensure their wishes are carried out in the event of disability or death.
The final part of the financial planning process at this stage is to ensure that his long-term investing and retirement planning are in place. This includes making sure Nick is maximizing his contributions towards retirement plans and ensuring that his investments are growing in line with his expectations.
If you have questions or would like some guidance on any of the above-mentioned elements linked to this stage of life, please book a free initial consult here.
With much of your working career behind you, you may be making those final plans to enjoy your retirement in the location of your choice.
The finer details of the pension plan you opted for when you started working will come into play, and you will likely require some guidance around the best way to protect your pension for you and your family as well as considerations for any other assets you have built up over the years.
You may also want to give consideration to grandchildren and securing finances or donating financial gifts to them as they grow up.
During this stage, you may want to consider:
- Tax residency
- Pensions benefits
- Capital Gains Tax
- Inheritance Tax
- Wills and Estate Planning
- Comprehensive Financial Planning
Mr and Mrs Smith, originally from Winchester, have worked all their lives in the U.K. After taking early retirement, they finally fulfilled their dream of moving to France in 2021.
Before making the move, their main concerns were around their finances, in particular how their U.K. pensions and investments would fund their new lifestyle once they had settled.
After discussions with Northern Cross Wealth Management, a comprehensive financial plan was established taking into consideration their new circumstances.
A complete review of all their private and company pensions was undertaken, as well as all their investment holdings such as ISAs and share portfolios.
The recommendations which, although specific to Mr and Mrs Smith, included maintaining (but amending) their U.K. pensions, establishing French investment accounts and establishing local Wills here in France.
Mr and Mrs Smith enjoy a close working relationship with Mike, who is based in France, and have found the advice they have received throughout the process, from before their move to now, invaluable. They look forward to achieving their goals whilst living in France knowing their concerns around their finances are taken care of.
If you have questions or would like some guidance on any of the above-mentioned elements linked to this stage of life, please book a free initial consult here.
Mr and Mrs Smith, originally from Winchester, have worked all their lives in the U.K. After taking early retirement, they finally fulfilled their dream of moving to France in 2021.
Before making the move, their main concerns were around their finances, in particular how their U.K. pensions and investments would fund their new lifestyle once they had settled.
After discussions with Northern Cross Wealth Management, a comprehensive financial plan was established taking into consideration their new circumstances.
A complete review of all their private and company pensions was undertaken, as well as all their investment holdings such as ISAs and share portfolios.
The recommendations which, although specific to Mr and Mrs Smith, included maintaining (but amending) their U.K. pensions, establishing French investment accounts and establishing local Wills here in France.
Mr and Mrs Smith enjoy a close working relationship with Mike, who is based in France, and have found the advice they have received throughout the process, from before their move to now, invaluable. They look forward to achieving their goals whilst living in France knowing their concerns around their finances are taken care of.
If you have questions or would like some guidance on any of the above-mentioned elements linked to this stage of life, please book a free initial consult here.
All the hard work has paid off and it’s time to take your foot off the gas and take it easy. You have already found your dream retirement location, or you’ve already moved back to your home country.
With this in mind you may already, depending on your official retirement age, be drawing on your pension or looking to do so in the near future.
You may want to consider the following factors as part of this stage of life:
Jim and Marge from Lancaster are looking to retire in the near future having worked as teachers for 40 years. They would like to make the most of the Spanish sun and move to Alicante in Spain.
With this in mind, they should take advice on how their pensions and other investments would be treated in their new location.Another big consideration should be around their Wills and Estate Planning as their new country may have different laws to how their assets would be treated.
Having been frugal throughout their working life, they have accumulated sizeable pension assets including the local education authority and personal pensions, in addition to other investments including ISA’s and share portfolios.
As Jim and Marge have family back in the U.K. who they may wish to give money to over the coming years, getting suitable advice around Estate Planning and Inheritance Tax planning is crucial at their stage of life.
Getting it wrong could mean they may have to say “adios” to their life in the sun.
If you have questions or would like some guidance on any of the above-mentioned elements linked to this stage of life, please book a free initial consult here.
Jim and Marge from Lancaster are looking to retire in the near future having worked as teachers for 40 years. They would like to make the most of the Spanish sun and move to Alicante in Spain.
With this in mind, they should take advice on how their pensions and other investments would be treated in their new location.Another big consideration should be around their Wills and Estate Planning as their new country may have different laws to how their assets would be treated.
Having been frugal throughout their working life, they have accumulated sizeable pension assets including the local education authority and personal pensions, in addition to other investments including ISA’s and share portfolios.
As Jim and Marge have family back in the U.K. who they may wish to give money to over the coming years, getting suitable advice around Estate Planning and Inheritance Tax planning is crucial at their stage of life.
Getting it wrong could mean they may have to say “adios” to their life in the sun.
If you have questions or would like some guidance on any of the above-mentioned elements linked to this stage of life, please book a free initial consult here.
Professional Expertise
Michael Yuille
MANAGING DIRECTOR
Based in Toulouse, in the south of France, I help people around the world with their Financial Planning.
I work closely with clients in the U.K., Europe, the USA, and throughout Africa regarding their investments, insurance, pensions, retirement planning, estate planning, cash-flow modelling, and much more.
As a U.K. qualified Certified Financial Planner (CFP®), Chartered Fellow (Financial Planning), and Pension Transfer Specialist, I have 15 years of experience providing bespoke financial planning and advice to individuals looking for help to consolidate, grow, and protect their finances.
I help clients understand a range of topics, including:
– UK pensions (SIPPs, Private/Co Pensions).
– US pensions (401k, IRA, Roth).
– Investments.
– Life Insurance, Income Protection, CIC.
– Wills, Trusts, and Powers-of-Attorney.
– U.K. Inheritance Tax (IHT) planning.
– Cash-flow forecasting.
I am the Key Individual for Northern Cross Wealth Management in South Africa (FSP 47797).
I represent Hoxton Capital in the U.K. and in Europe, and I am registered as an Investment Adviser Representative (IAR) for Hoxton Capital USA.
I am also the Key Individual for Hoxton South Africa (FSP 45985).
In my spare time, I love spending time with my family, improving my French, and working towards completing my Private Pilot’s License (PPL).
If you would like more information, please feel free to message me to arrange a free consultation with no obligation.
Visit: www.northerncrosswealth.com
Email: michael@northerncrosswealth.com
Calendly: www.calendly.com/mike-ncwm
U.K. Level 4 – Investment Advice Diploma
U.K. Level 6 – Pension Transfer and Planning Advice
Level 6 – Certified Financial Planner (CFP™)
South Africa RE 1 – Key Individuals
South Africa RE 5 – Regulatory Exam
USA – S-65 – Uniform Investment Advisor
France Autorité Des Marchés Financiers
I am always happy to offer advice and support, whatever your circumstances.
You can make an appointment with me directly by clicking here
We found him to be extremely pleasant while maintaining professionalism in all his dealings. He took over our portfolio when it was in a bit of a mess and some poor decisions had been made. Thankfully he sorted this out and we are more than happy with him.
Wishing you all the best and will definitely recommend you to any of my friends or family looking to set up an offshore pension plan.
I would have no hesitation in recommending Michael to anyone requiring financial advice or investment advice.
Mike’s investment advice and knowledge of the many regulatory requirements is a great asset; he is also not short of knowledge of the many investment products out there.
He continues to deliver top-notch investment advice, which I recommend to anyone requiring similar financial services.