Help, I’ve Just Been Sacked by My Financial Adviser Because I Live Overseas
UK Expat Financial Advice
For many British expats, this moment arrives out of the blue:
Your UK financial adviser sends an email explaining that because you now live overseas, they can no longer advise you.
No warning.
No transition plan.
Just… goodbye.
If this has happened to you, you’re not alone.
I regularly get approached by UK expats, often approaching retirement with sizeable pensions and investments, who have suddenly been given the elbow by their UK adviser.
Below, I’ll explain why this happens, what it means for your finances, and how to find the right cross-border advice so you don’t end up making costly mistakes with your pension, taxes, or retirement planning.
Why UK advisers ‘sack’ their expat clients
Most expats assume their UK adviser can continue advising them as normal.
After all, you were a client when you lived in the UK, so what’s changed?
The truth is, the moment you become non-resident, many UK advice firms are no longer willing or able to continue the relationship.
Common reasons include:
1. FCA regulatory restrictions
UK advisers are authorised to advise UK residents.
Once you move abroad, especially post-Brexit, to somewhere in the EU, they may feel that:
- They don’t have the right regulatory permissions
- They are no longer covered by their professional indemnity insurance
- They are at risk of breaching rules by advising someone overseas
Rather than take that risk, they simply disengage.
2. Compliance departments say “no”
Even if your adviser personally wants to keep working with you, the firm’s compliance team may decide:
- “We don’t advise non-UK residents.”
- “This country is off-limits.”
- “We’re not set up for cross-border advice.”
Many advisers are employees, not business owners, so they have no choice but to follow internal rules.
3. They don’t understand cross-border planning
Cross-border retirement and financial planning is complex.
Most UK advisers are not trained for it.
As soon as you mention words like QROPS, QNUPS, non-dom rules, double tax treaties, No Tax codes, or lifetime allowance protections, they understandably get nervous.
Rather than risk giving the wrong advice, they disengage.
4. They fear future complaints
Many UK firms worry:
To protect themselves, they simply remove the risk.
What this means for your pension and investments
At first, being “sacked” can feel like a blow.
But the bigger problem is what usually happens next:
❗ Your pension may become unmanaged
Your SIPP, drawdown pot, or investment portfolio may drift without proper oversight, often for years.
❗ You lose access to personalised tax-efficient planning
Tax treatment for UK pensions, ISAs, and offshore assets changes the moment you become non-resident.
A UK-only adviser often can’t guide you on this.
❗ You risk paying unnecessary tax
Issues like:
- Double taxation
- Incorrect withdrawal strategies
- Losing tax reliefs
- Triggering higher tax bands overseas
…can cost expats tens of thousands over retirement.
❗ Your estate planning may become dangerously out of date
If you have assets in multiple countries, a mixed-nationality marriage, or are likely to return to the UK later, your adviser must understand:
- UK inheritance tax
- Local succession rules
- Residency-based taxation (from April 2025)
- How to structure assets for cross-border heirs
This is where most UK advisers simply aren’t equipped.
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The good news: you can replace your adviser (without starting from scratch)
Being “let go” isn’t the disaster it feels like.
In fact, many expats tell me later:
“It was a blessing in disguise. My new adviser understands my situation far better than my old UK one ever did.”
The key is to find a specialist who understands cross-border investing, expat tax issues, and international pension planning.
Here’s what the right adviser should offer you:
What to look for in an expat financial adviser
1. UK-qualified (ideally Chartered)
This ensures you’re receiving advice based on UK tax and pension rules, which still matter even after you’ve left.
2. Experience with expats
Your adviser should understand:
- Local tax treatment of UK pensions
- Double tax treaty rules
- Whether drawdown, lump sums, or annuity income is most efficient
- Local succession rules
- Whether QROPS, QNUPS, offshore bonds, or locally compliant investment structures may help
3. Experience with mixed-nationality couples
A large number of expats are married to a non-UK spouse, and this has major implications for:
- UK inheritance tax
- Passing on pensions
- Protecting assets if you return to the UK
- Estate planning
4. Ability to advise if you move again
Many expats relocate more than once.
Your adviser should be able to support you if you:
- Move within Europe
- Emigrate to a new country
- Return to the UK
- Split time between countries
5. Transparent, fee-only advice
No commissions.
No hidden costs.
Just clear, impartial advice.
What you should do now (a simple checklist)
If you’ve been “sacked” by your adviser, take the following steps:
1. Don’t panic
Your pensions and investments are still safe.
2. Request a copy of your existing plan
This is often called a “suitability report” or “review pack”.
3. Ask your current adviser for a formal disengagement letter
You need this for your records.
4. Find a cross-border specialist
Look for someone experienced in working with expats, ideally UK-qualified and familiar with your specific concerns (pension transfers, UK state pension, tax planning, estate planning, etc.).
5. Arrange a proper cross-border review
This should cover:
- UK pensions (including state pension)
- ISA and general investment accounts
- Offshore assets
- Double tax treaties
- Estate and inheritance planning
- Planning for a future return to the UK
Case Study: Being Dropped by a UK Adviser and What Happened Next
Background
Mark and Helen (both in their early 60s) moved from Surrey to Portugal in 2022.
Mark had a £780,000 SIPP and a £42,000/year defined benefit pension.
Helen had a £210,000 personal pension and a small ISA.
Their long-standing UK adviser initially said they could “continue as normal,” but six months after they formally became Portuguese tax residents, the firm sent an email:
“Due to regulatory limitations, we regret that we can no longer provide ongoing financial advice.”
They were given 30 days’ notice.
The Problems
- Their adviser couldn’t tell them whether to draw from the SIPP or DB pension first
- They were unaware of the Portugal-UK double tax treaty and risked being taxed twice
- Their wills were UK-only and invalid for Portuguese succession
- They didn’t know whether their planned 25% lump sum would be taxed locally
- They had no plan for returning to the UK later if health issues arose
The Solution
- Rebuild a full UK–Portugal retirement plan
- Create a tax-efficient withdrawal sequence
- Align their estate planning to avoid UK inheritance tax shocks
- Move their investments into suitable, compliant structures for Portugal
- Plan for a potential return to the UK without triggering unexpected tax charges
The Outcome
“We didn’t realise how complicated our situation had become until our adviser dropped us. In hindsight, we should have been working with an expat specialist from day one.”
❓ Frequently Asked Questions
1. Why can’t my UK financial adviser work with me now that I’m living overseas?
Most UK advisers are restricted by FCA permissions, compliance policies, or insurance limitations once a client becomes non-UK resident.2. Can a UK financial adviser advise a non-UK resident?
Yes, but only if they have the appropriate regulatory permissions, insurance coverage, and cross-border expertise. Most don’t.3. What happens to my pension if my adviser stops advising me?
Your pension remains safe, but it becomes unmanaged, which can lead to poor investment performance and inefficient retirement withdrawals.4. Do I need a specialist expat financial adviser?
If you have UK pensions, are married to a non-UK spouse, or expect to retire abroad or return to the UK later, a cross-border specialist is strongly recommended.5. Will my pension be taxed twice if I live overseas?
It shouldn’t be, if the UK has a double tax treaty with your country. Incorrect structuring, however, can lead to double taxation.6. Can I still take my 25% tax-free lump sum as an expat?
Yes, but the overseas tax treatment varies. Some countries tax it, some don’t, and treaty rules must be followed carefully.7. Should I transfer my UK pension to a QROPS after moving abroad?
It depends on your residency, future plans, pension value, and tax rules. QROPS are beneficial in some cases but unnecessary or harmful in others.8. What happens if I retire abroad and then return to the UK later?
You must plan ahead. Returning can reverse tax advantages, change pension treatment, and unexpectedly expose your estate to UK inheritance tax.9. Can I keep my ISA if I live abroad?
Yes, but you cannot add new money. Tax treatment in your new country varies and may make ISAs less efficient.10. What should I do if my adviser has dropped me?
Request your file, obtain a disengagement letter, and book a cross-border financial review with an adviser experienced in expat retirement planning.📚 Further Reading
🔗
Expat Life and Financial Planning: The Known Knowns, Unknown Unknowns, and the Unexpected
🔗
Expat State Pension guide (2025/2026 update)
🔗
Retiring Abroad: The Complete UK Expat Guide
🔗
What should I do with my offshore investments when returning to the UK?
🔗
What is an Offshore Bond? An Expat Guide
🔗
How do I apply for an NT Code for pension income? An expat guide
🔗
Expat ISA Rules: What Can Be Done With an ISA When You Move Abroad?
🧠 Final thoughts
Being “let go” by your financial adviser isn’t your fault.
It’s simply a sign that you’ve moved into territory most UK advisers aren’t trained for.
The good news?
You now have the chance to work with someone who genuinely understands expat life, cross-border retirement, and the unique financial challenges you face.
If you’ve just been left without an adviser and want a second opinion on your pensions, taxes, or retirement planning, I’m happy to help.
Just
get in touch
and we’ll walk through your situation together.
Talk to an Expert
If your UK financial adviser has just emailed to say they can no longer work with you because you now live overseas, it can feel like the rug has been pulled from under you. Your pensions, investments and long-term plans have not changed overnight, but the support you relied on suddenly has.
I am Ross Naylor, a UK-qualified Chartered Financial Planner and Expat Financial Advice Specialist with nearly 30 years’ experience helping British expats whose UK advisers have stepped away once they became non-resident.
I regularly help clients who have been “sacked” by their UK adviser to rebuild a clear cross-border plan covering pensions, tax, and estate planning, so they can move forward without guessing what to do next.
I firmly believe your change of country should never be a barrier to expert, impartial and transparent financial advice you can rely on.
Whether you are worried about how to manage your SIPP or drawdown pot without an adviser, how your pension will now be taxed overseas, whether you should consider a QROPS, or how all of this fits with your future plans to stay abroad or return to the UK, I will help you make sense of the rules and put a plan in place that works across borders.
Book a cross-border review