What was the thinking behind the creation of Foresight?
Foresight came from an idea I had, which was originally a UK Tax Health Check, David and I discussed how it would work and developed the Foresight Strategy, which is a suite of products aimed to assistfor UK expats and Non Doms.
What makes Foresight different from other Products?
We haven’t really reinvented the wheel, but what we have done is broken down the process of estate planning in to bite- size pieces.
Who is the Product designed to assist?
By simplifying the process, the products will assist both an introducer of the business and, more importantly, the client, so at any point of the process they understand what is happening and why.
Geographically, where do you see Foresight being of Benefit?
There is no particular region. As long as a client requires estate planning, then we are well-positioned to speak to them and provide any assistance we possibly can.
Does the current uncertainty surrounding Brexit give added importance to Foresight?
Not as much as you may think. The major issue is that many UK expats don’t realise that they have not relinquished their UK Domicile status (even if they think they have), they still have tax exposure in the UK and that IHT remains is chargeable on their worldwide assets.
What has the Response been since the Product was launched?
It has been extremely favourable, introducers from all corners of the world have been very complementary and they are talking to their clients about Foresightit which is very satisfying to see.
Looking ahead, are there plans to add further features to Foresight?
Absolutely. Foresight will continue to grow and new products will be added as we move forward. Currently, we are working on the addition of a UK Statutory Residencey Test tool, and, next, a product for the South African expats market … watch this space.