{"id":151237,"date":"2019-07-10T11:00:27","date_gmt":"2019-07-10T15:00:27","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=151237"},"modified":"2019-07-10T07:58:04","modified_gmt":"2019-07-10T11:58:04","slug":"wealthy-brits-seek-to-corbyn-proof-finances-as-uks-labour-moves-towards-shunning-brexit","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/wealthy-brits-seek-to-corbyn-proof-finances-as-uks-labour-moves-towards-shunning-brexit\/","title":{"rendered":"Wealthy Brits seek to Corbyn-proof finances as UK\u2019s Labour moves towards shunning Brexit"},"content":{"rendered":"
July 10, 2019<\/div>
\r\n<\/div><\/div>

By George Prior<\/strong><\/p>\n

High-net-worth individuals will increasingly be seeking to Corbyn-proof their finances, says the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The assessment from Nigel Green, chief executive and founder of deVere Group, which has $12bn under advisement, comes as Jeremy Corbyn, the leader of the UK\u2019s official opposition party, Labour, confirms his party would campaign to remain in the EU should there be a second Brexit referendum under a Conservative government.<\/p>\n

Mr Green affirms: \u201cAlthough Mr Corbyn has still not confirmed what his party would do with Brexit should he become British Prime Minister, there seems to be a gradual transition towards Labour becoming an out-and-out Remain party.<\/p>\n

\u201cThis will prove to be a popular step in the right direction for huge swathes of the UK electorate.\u00a0 As such, Mr Corbyn\u2019s chance of sweeping into government in the \u2013 likely \u2013 event of a general election is greater.”<\/p>\n

This, says the deVere CEO, will put wealthy Britons \u2018on notice.\u2019<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

In May, he noted: \u201cSince the beginning of the year a large and growing number of clients are telling our advisers that for their wealth, they fear the damaging impact of a Jeremy Corbyn-led government more than Brexit.<\/p>\n

\u201cShould the Brexit turmoil continue, and the Conservatives keep losing ground to Corbyn’s Labour, it can be reasonably expected that a considerable amount of our clients will move their assets outside of the UK.\u201d<\/p>\n

Now, this trend will pick up pace.<\/p>\n

He says: \u201cFollowing Jeremy Corbyn\u2019s apparent shift towards Labour becoming a full-blown Remain party – and therefore the perception that he is now more likely to secure the keys to Number 10 \u2013 an increasing number of high net worth clients will seek to Corbyn-proof their finances.<\/p>\n

\u201cThere are real concerns from these individuals that a Corbyn-led government would increase inheritance taxes, income taxes, stamp duty and capital gains taxes, potentially even roll out capital controls, and slash other areas, such as pensions tax relief.<\/p>\n

\u201cTo counteract the damaging effects of these policies on their wealth, I believe that over the next few months, more and more of them will be actively considering established, legitimate overseas opportunities to create, build, and importantly, protect their wealth.\u201d<\/p>\n

Mr Green concludes: \u201cRightly or wrongly, Mr Corbyn is seen as a bigger threat to high net worth individuals\u2019 wealth and the UK\u2019s economic outlook than even Brexit.<\/p>\n

“And they can be expected to seek alternatives in greater and greater numbers as his shifts towards Remain develop.\u201d<\/p>\n

About:<\/em><\/strong><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior High-net-worth individuals will increasingly be seeking to Corbyn-proof their finances, says the CEO of one of the world\u2019s largest independent financial advisory organizations. The assessment from Nigel Green, chief executive and founder of deVere Group, which has $12bn under advisement, comes as Jeremy Corbyn, the leader of the UK\u2019s official opposition party, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-151237","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=151237"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151237\/revisions"}],"predecessor-version":[{"id":151238,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151237\/revisions\/151238"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=151237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=151237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=151237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}