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Do I need the new TIE card? – Christina Brady from Blacktower Financial Management with BayRadio
1K views
Jan 13, 2025
Christina was back in the studio with Moody this week for the first time since lockdown, and there was plenty to discuss. There was pensions news, Spanish taxation issues and a reminder about sorting your residency ahead of Brexit, which might include you applying for the new TIE card. To contact Christina and Blacktower, use the email address [email protected] or see the website for your nearest office. If you found this useful, be sure to Subscribe to our YouTube channel and ring the Notifications 🛎 for the latest from BayRadio. Find Us Website: http://www.bayradio.fm/ Mobile App: https://app.appinstitute.com/yddcc Facebook: https://www.facebook.com/BayRadioInSpain Twitter: https://twitter.com/bayradioinspain Instagram: https://www.instagram.com/bayradiospain/ YouTube Subscribe: https://www.youtube.com/channel/UCHyiJYOOyp4cWu5kzr_2RrA?sub_confirmation=1
View Video Transcript
0:00
[Music]
0:00
this is bay radio if you look at the
0:03
unemployment figures that came out from
0:04
the uk
0:05
they've just come out today we have got
0:08
nearly a million
0:09
jobs lost since march and a third of
0:13
firms are planning to lay off this
0:15
autumn figures
0:16
on wednesday that's tomorrow for gdp are
0:18
expected to show that uk is well in
0:20
recession
0:20
the biggest fall in gdp since world war
0:23
one
0:24
is expected and these figures for job
0:27
losses are before the government
0:28
furloughs theme ends in october
0:30
and then you're going to see a lot more
0:31
and if you look at spain's figures
0:33
across europe
0:34
and what you have to marry up is a
0:36
number of people
0:38
that have had this uh virus and it is
0:41
you know if you've had it
0:42
okay horrific but against the horrific
0:44
consequences is given for everyone we've
0:46
got people if you look at the queues for
0:47
food in madrid
0:49
in barcelona number of people that don't
0:51
have any jobs i think in the summer
0:53
we're in this bubble especially in our
0:55
area because there's lots of jobs
0:57
but once these jobs go in the winter
0:59
unless people have managed to make
1:00
enough money in the summer
1:02
we are going to see a lot of problems
1:03
and i know most councils are trying to
1:05
put together schemes
1:06
to try and assist people because they
1:08
realize how bad it's going to be
1:10
but on the back of that if we look at
1:11
the uh stock markets
1:14
they're rallying yeah this is what i
1:15
would say it doesn't tell the whole
1:17
story because um obviously you've just
1:19
spelled out uh what's
1:20
possibly going or probably going to
1:21
happen but never been better in some
1:25
indexes and indices in the states the
1:27
stock market you know the ftse again is
1:29
up 1.5 today it seems to travel between
1:31
six
1:32
uh six one six two back down to six just
1:35
under six
1:36
around that and the s p is only one
1:39
percent off it's higher but what you've
1:40
got to think is this is artificially
1:42
high
1:42
governments are propping these up
1:44
governments are putting millions and
1:45
billions
1:46
into the stock markets into the equity
1:48
markets to keep them high
1:50
um because it helps save us it helps
1:52
pensioners it helps them
1:54
bond markets are flat um so if you're in
1:56
bonds you're earning nothing
1:58
but the what they're trying to do is get
2:00
people to take their money and put it
2:01
into the equity markets more people take
2:03
money in
2:04
they can stop their stimulus and it will
2:05
keep itself high if they haven't
2:07
come in and they hadn't propped you up
2:08
the ftse would still be under 5000 and
2:11
everything would be in the doldrums
2:12
so the governments have worked towards
2:15
trying to help us they do realize that
2:18
you know that closing everything down
2:19
maybe wasn't the best idea they should
2:21
just put in say place certain
2:23
precautions
2:24
um and i think people would have
2:25
followed those if you look at heathrow
2:27
today the ceo
2:28
has come out and said tens of thousands
2:30
of jobs have been lost
2:31
july travellers for heathrow was down by
2:33
88
2:35
in july on july last year now no
2:37
business can sustain
2:39
that fall in business and if you look at
2:41
the number of hotels
2:43
everyone is going if you look we've got
2:45
virgin atlantic has applied for chapter
2:47
11 bankruptcy
2:48
pizza express is closing a large number
2:50
of restaurants holiday inn
2:52
has just announced a six month loss of
2:55
uh
2:55
200 million pounds the companies are
2:58
doing well
2:59
are things like domino pizza delivery
3:01
yeah sure
3:02
technology companies uh biotech
3:05
companies
3:06
anything to do with people um working
3:08
remotely
3:09
or getting deliveries to their home
3:10
amazon look how well amazon's done
3:13
uh because obviously people were forced
3:15
to take that route and people are now
3:16
comfortable with that route
3:18
and they've made it very awkward if you
3:19
do want to go out shopping we're in mars
3:21
sanitizers etcetera that most people are
3:23
still buying online
3:25
which isn't helping in the retail
3:26
industry or the retail parks
3:28
but in the uk they did see an upturn in
3:31
uh spending
3:32
in july but most of that was done online
3:36
right so we haven't seen we are not
3:38
seeing any sort of recovery
3:40
to normality um what we have had is
3:43
gold gold has gone to its highest ever
3:46
it's 2
3:47
000 over 2 000 and that's the first time
3:50
in history that happened last week
3:52
and that is great if you already own
3:53
gold but most financial
3:55
experts think it's overbought and
3:58
there's one person who is very bull on
3:59
gold and his name is dennis gartman
4:01
and he says he's getting out of gold and
4:03
he's waiting for a correction
4:05
uh the reason gold is so uh is being
4:07
bought is because it has a real value
4:09
it's got an intrinsic value it's not
4:10
like paper money they can print whenever
4:12
they want
4:13
and if you want to buy gold there's lots
4:15
of things online saying click here buy
4:17
physical gold and we will send you a
4:18
certificate you own it be very very
4:20
careful
4:21
most of these are scams if you want to
4:23
buy gold something like the royal mint
4:25
they have bullion offers where you can
4:27
buy gold coins you can
4:30
sell gold also if you want to go into
4:32
gold you could buy gold mining companies
4:34
the values have soared
4:35
by 116 billion so far this year
4:39
the reason people are going into gold is
4:41
obviously because it's a safe haven
4:42
also because it has a tr it has an
4:44
actual intrinsic value
4:47
and also because government bonds uh
4:50
their value the yields are very low
4:52
um in so what you pay in you don't get
4:54
much money out
4:56
um so and dividends have gone down so
4:58
people are
4:59
holding gold do you deal with it much um
5:02
in any way no
5:03
we do buy gold funds okay so you've got
5:05
funds that invest
5:06
in gold mining companies and some people
5:08
have come to said we want precious
5:10
metals
5:10
and we will go into that we don't do
5:12
gold bullion you need to go to a
5:13
specialist for that and i'd be very very
5:15
careful as i said i would go something
5:16
like the royal mint
5:17
where they're not going to charge you
5:18
extra on top because if you think that
5:20
the price of the market say is 2
5:21
000 maybe if you're going to buy a
5:23
normal place you're going to have to pay
5:24
2
5:25
100. so you're already paying on top of
5:27
what is a very very high price
5:30
and also if you do have physical gold
5:32
where do you store it
5:33
yeah i don't i was going to say i mean
5:35
you you actually get the certificates
5:37
saying you own this something like that
5:38
but i'd actually want it there i'd want
5:40
a couple of those bars in your house
5:41
and where'd you store it did you have a
5:43
safe bill what happens if someone finds
5:45
out and they come and burgle you
5:47
uh what happens if you have a fire what
5:48
happens if you're dying you don't tell
5:49
you anybody i had someone years and
5:51
years ago
5:52
this must have been the last crash so
5:53
we're talking 2007 2008.
5:56
he said he'd bought loads of gold and
5:57
he'd buried it in his garden and not
5:59
told anyone where it
6:00
is wow and i said to him right so when
6:03
you die
6:04
your wife is gonna have to get a
6:05
bulldozer and bulldoze a whole garden to
6:08
to find it and he didn't think of that
6:09
because he was worried that someone
6:10
might find out and might
6:12
you know try and hurt his family um so i
6:14
said you've got to write it down
6:16
somewhere even lodge it with the bank
6:17
you know make it secure so someone knows
6:19
where this gold is he buried in the
6:21
garden like samuel peeps burying his big
6:22
roll of parmesan cheese
6:25
yeah during the fire of london oh yeah
6:27
because parmesan you know
6:28
it was a delicacy hard to get hold of he
6:31
buried this big wheel of cheese in the
6:33
garden
6:34
people digging in gardens we know it's
6:36
either for cheese or gold
6:39
but no i can understand people you know
6:40
having a little bit of gold if you've
6:42
got the money isn't a bad idea if you
6:44
went to
6:45
abu dhabi and dubai they've actually got
6:48
vending machines
6:49
where you can buy little ingots of gold
6:51
for certain amounts of money
6:52
and that would be a good idea i can't
6:54
see it happening sort of in suburbs
6:56
in england or in spain but if you go to
6:59
the cities like london
7:00
you should be on you know madrid
7:02
barcelona even valencia you'll find
7:04
somewhere to buy gold
7:05
and remember you don't want to buy if
7:07
you are going to buy it you don't want
7:08
to pay too much above what the price is
7:10
so before you go and buy gold check what
7:12
the price is in the market
7:14
and know what you're buying if you buy
7:15
jewelry it's always marked up by about a
7:17
hundred percent
7:18
so jewellery is not a good idea um same
7:20
for but gold coins look into
7:23
um but as i said if you buy online and
7:25
you're offered a certificate and someone
7:27
say look there'll be a little bit of
7:28
gold attached most of that is a scam
7:30
and what happens if things do go wrong
7:32
how do you get in touch with them to get
7:34
your gold delivered to you if you want
7:35
your gold
7:36
um so i can understand people wanting to
7:39
hedge their bets but please be very very
7:42
careful so i guess um
7:43
as far as your portfolios goes again
7:45
diversification has come into this
7:47
oh it has and i'm happy to say touchwood
7:50
that um our clients all of them are back
7:54
to the levels they were um when the
7:57
crash happened
7:58
um if they've invested in a diversified
8:00
uh market portfolio with us if they've
8:02
invested in portfolios run by certain
8:04
um big institutions they haven't seen
8:07
the upturn
8:08
yet but it's looking very very positive
8:12
and for new investors um they've made a
8:15
lot of money i had someone invested in
8:17
may
8:18
um in a portfolio that we've used all
8:19
along so it hasn't been tailored just
8:21
because of the crisis because some
8:23
financial advisors have been very very
8:24
crafty and they've gone in and looked at
8:26
all the funds that have done well
8:28
through the crisis and put together a
8:30
portfolio saying this is the portfolio
8:32
you would have had and you would have
8:33
made
8:33
you know 60 well that's a load of border
8:35
dash
8:37
you should ask them to show someone's
8:38
portfolio from a year two years ago with
8:40
those funds in
8:41
to prove it because most of them haven't
8:42
but i had someone who invested in may
8:44
he's already up twenty percent but he
8:47
was adventurous and a balanced one
8:49
you know is up twelve percent because
8:51
the markets have come back
8:52
and there's still a lot of potential out
8:54
there
8:56
and there's still a lot of undervalued
8:57
stocks if you look at uk smaller
8:59
companies they're still undervalued
9:01
there's still a lot of value in those
9:03
once we've got a bit more
9:04
news on the economy a bit more news on
9:06
brexit most of these
9:08
companies do have cash um and they will
9:10
then
9:11
invest and we'll see their shares go up
9:12
and of course it's your your business to
9:14
keep an eye on that sort of thing
9:15
get your jeweler's eyepiece in on these
9:17
uh on these businesses and their stuff
9:18
it is it's very difficult at the moment
9:20
because things move so quickly but we do
9:21
have a very good head office that does
9:23
give us help and guidance
9:25
plus we're in touch with most of the
9:26
fund managers
9:28
and they give us talks on what they
9:30
think is happening with the market
9:31
we have women webinars we've been very
9:34
very busy with them giving us the views
9:35
on the market so you can formulate your
9:37
own view you get
9:38
say 10 in and then you pick the bits out
9:40
of each of them that seem to marry up
9:42
and you form a a way forward from there
9:46
we've also had a lot of people coming in
9:47
with pensions
9:49
quite a few few people with final salary
9:51
pensions may be wanting to
9:52
transfer them for most them we have to
9:54
say no
9:56
because your final salary is actually
9:58
guaranteed
9:59
so even through this stock market crash
10:02
your pension was always guaranteed if
10:03
you move it
10:04
and you happen to move it uh when the
10:07
markets went down in march
10:09
you could and you'd be invested before
10:11
the downturn you would have lost say 30
10:14
so you have to be very very careful and
10:15
we are erring on the side of caution
10:18
with most final salary pension transfers
10:20
some of them
10:21
yes there is a good reason to transfer
10:22
as i said before and it's very very
10:24
expensive now the fca has brought in
10:26
so many rules that to get the report to
10:29
allow you to transfer
10:31
is on average about 2 000 pounds
10:34
so it's a huge amount to take if you
10:36
still want to go ahead of it
10:37
you can do as an insistent client but
10:39
what that means if you do it as an
10:41
insistent client it means you've got no
10:42
right of recourse
10:43
should you ever say i wasn't given the
10:45
proper advice because you've insisted on
10:47
doing it your way
10:48
yeah let's talk about spain because
10:50
there was um something you wanted to
10:52
mention yeah there's two things um
10:53
i've had lots of people i did have lots
10:55
of people call me they were brits
10:57
that were stuck here because of the
10:58
crisis and couldn't get back to the uk
11:00
and it meant that they
11:01
stayed in spain more than 183 days in
11:04
360.
11:06
and you know they said to me what does
11:08
this mean and this was about a month
11:10
two months ago and i said well the oecd
11:12
has come out and said that most
11:13
countries
11:14
should be fair on this and accept the
11:16
fact that people were stuck here
11:18
through no fault of their own and they
11:20
shouldn't then say that they're tax
11:22
residents
11:23
so most countries said yes that was fine
11:25
now spain are menard and apparently
11:26
spain has decided
11:28
that if you did get stuck here for the
11:30
crisis and you stayed over 183 days
11:32
you are tax resident in spain um
11:36
i think people are appealing against
11:38
this there was one um
11:40
chap who appealed i think he was
11:42
lebanese and they tried to get him for
11:45
tax and he took him to court and it and
11:46
he was actually ruled against him um
11:49
he'd been here for over 183 days in 360.
11:52
and they ruled that meant he was tax
11:55
resident in spain
11:56
and he had to pay taxes in spain he's
11:58
appealing again
12:00
um most people hopefully
12:03
will have stayed under the radar and
12:05
won't have um
12:07
the tax the tax authorities won't know
12:10
yes because it seems a bit harsh if you
12:11
couldn't but it is very very harsh you
12:13
didn't have any choice to go
12:15
and you were stuck here um but because
12:17
of that maybe you came
12:18
in i don't know last year november um
12:22
or before then and you were planning to
12:23
stay just till
12:25
say march and you couldn't move out till
12:28
may
12:28
june or even well no flights didn't
12:30
start when don't you july yeah
12:31
so you were stuck here so be very very
12:33
careful um
12:35
and if you do get any problems go and
12:37
see a good uh
12:38
tax advisor and they will try and help
12:40
you but that is very worrying that
12:43
spain has um ignored the advice i guess
12:46
there'll be one
12:46
like the fella there i mean if he won
12:48
the appeal that would be that
12:50
case wouldn't so just be very very
12:54
careful
12:55
and i am disappointed in spain doing
12:57
that this crisis we're all meant to come
12:59
together
13:00
we're all meant to help each other we're
13:01
all meant to work as one
13:03
and they are not they are penalizing
13:05
people through no fault of their own
13:07
and i think that needs to be addressed
13:09
and also in spain as we know if we're
13:11
brits here
13:12
um there is going to be a brexit at the
13:15
end of the year oh yeah remember that
13:17
yep and it looks like it's going to be
13:18
no deal now
13:20
most people you need to reply for a
13:21
residencia before the 31st of december
13:25
however it's very difficult to get an
13:27
appointment
13:28
and what will happen is after that we
13:30
need a residency card which is called
13:33
a tie it's a target identi dad
13:36
the extra hero okay it contains your
13:40
information your name your
13:41
surname period of validity a unique
13:45
number
13:46
and a foreign identification number on
13:48
the 6th of july the spanish
13:50
government introduced the new document
13:52
for all uk nationals living
13:54
in spain who have rights under the rural
13:57
agreement to stay here
13:59
okay um so all uk
14:03
nationals legally and i have to point
14:05
this out legally
14:06
living in spain so you have to have had
14:09
your green
14:10
little residency or either the a4 or the
14:12
little credit card one
14:14
if you've been living under the radar
14:16
tough if you don't go and get that now
14:17
you will be stuffed have the right to
14:19
request this card
14:21
uh so you have to have registered for
14:23
residency you're too late now
14:25
you have to reside for your residency
14:27
before the 6th of july
14:30
but if you've got your permanent
14:31
residency the the the whatever you want
14:33
that that serves as well you don't have
14:35
to have the ti
14:36
but if you need if you need it if you
14:37
need to update it you might as well get
14:39
it but it says you may exchange it for
14:40
the tie if you want there is no deadline
14:43
for doing it
14:44
but authorities are recommending that
14:46
you do it okay
14:47
okay um and it's saying that there's
14:50
only one place in this area you can do
14:52
it if you're in the costa blanca and
14:54
that is in
14:54
alexandria you have to get an
14:56
appointment by ella canty
14:58
um and it's it's
15:03
and you have to go twice to do this and
15:05
the best thing to do is to get someone
15:06
to help you
15:07
now local historians local accountants
15:11
are finding this
15:12
very difficult to do so what they're
15:13
suggesting is you find an immigration
15:15
lawyer
15:16
who's based in alicante to do it with
15:18
you so they can assist you with getting
15:19
the appointments at the police center
15:21
and they can tell you exactly what
15:22
documents are needed because there's
15:24
several papers that you need
15:27
and first of all you will be applied if
15:28
you've been in here for less than five
15:30
years
15:31
you'll be issued with a temporary tie
15:33
okay which is valid for five years and
15:35
then you can apply for your permanent
15:37
one after that's up
15:38
if you've been here for more than five
15:39
years you will be issued with a
15:41
permanent tie
15:42
that is valid for 10 years and you must
15:46
review your
15:47
tie when it expires and you must do
15:50
within a month of it expiring
15:54
before a month before up to three months
15:56
after if you don't
15:58
then that's it and if you move to spain
16:00
from the first of january
16:01
2021 they will be different immigration
16:04
requirements
16:05
um it could be similar to getting your
16:07
visa that they had in place for
16:09
the russians and chinese where you have
16:10
to buy a property after us over a
16:12
certain value
16:13
and have us and it was half a million
16:15
and have a certain amount in the banks
16:17
we're not sure what that will be
16:18
so if you have got your permanent
16:20
residency and you do want to exchange it
16:22
to a tie
16:23
you can do so i would wait at the moment
16:25
because it seems they're very busy
16:26
we will all have to do it in the end
16:28
we're all going to have to have the tie
16:30
at the moment there is no deadline so
16:32
please don't panic so if people say oh
16:34
you need you know it's like down
16:36
the pub or in a bar or you need your tie
16:38
if you're going to stay here
16:39
no if you have your green residencia
16:42
and it says temporary or permanent and
16:44
you're okay
16:46
if you're applying for it now you may
16:48
still get it
16:49
but the deadline was the sixth of july
16:51
but i think because of what's happening
16:53
they may be extending that slightly
16:54
yeah but please if you do want to get
16:57
your residencia try
16:58
as hard as possible to get it before the
17:00
31st of december
17:01
because as we said after that it could
17:03
be completely difficult different to get
17:05
and it could be a bit more difficult as
17:07
we know in spain they love the paperwork
17:09
yeah i finally got my driving license
17:11
through last week it was
17:12
it was supposed to have been a lot
17:13
sooner but obviously things got held up
17:16
and yeah there we go it expires 20 30. i
17:19
think well yeah boy it seems and then
17:20
you have to take another little test
17:22
don't you funny little driving i don't
17:23
know i did the little test
17:24
before ahead of that yeah where you have
17:26
to keep it it was like a video game
17:28
which i was quite good at
17:29
yeah my friend she said she was useless
17:32
but she still passed yeah
17:33
i think they just put everyone through i
17:35
don't know anyone that failed the whole
17:36
thing
17:37
so and again if you haven't got a
17:39
spanish driver's license
17:40
and you want to be driving in spain and
17:41
you live here you need to get a spanish
17:43
driving licence
17:44
i think most people are aware of that
17:46
but please do that as well
17:47
um try and get all everything in order
17:50
so
17:50
if we have a no deal or if there's more
17:53
negotiations going on after december
17:55
that you can legally stay here if you
17:57
want to because also what you have to
17:59
remember is
18:00
it's not going to be 183 days in 360.
18:03
going forward it's 90 days in 180 you
18:06
can only say
18:07
90 days in 180. if you stay more than
18:10
that
18:10
it doesn't matter if you've got
18:11
residency or not they all consider you
18:13
tax resident
18:15
and what i can say is expats are an easy
18:17
target whether you're british dutch
18:19
german french
18:20
whatever you're an easy target for the
18:22
spanish so if they find
18:24
out and it's easy to do that they can
18:25
get your bank records and they can find
18:27
out you've been to mercadona each week
18:29
you've used the cash point each week
18:31
and it's up to you not them it's up to
18:33
you to prove
18:34
that you haven't been here more than 90
18:37
days in 180 you have to have
18:38
proof if they say you've been here if
18:41
you can't prove
18:42
it they will treat you as tax resident
18:44
but is that changing for
18:45
that's not changing for everyone else no
18:47
not if you've got residents yeah no but
18:49
term
18:49
just bridge because of brexit yeah but
18:51
not everyone not term dutch and no no no
18:53
this is just for britain yes exactly
18:54
yeah
18:57
you've got freedom movement with dutch
18:58
but again if you're here more than 183
19:00
and 360
19:02
you know they will consider you tax
19:03
residents in spain it doesn't matter if
19:05
you've got residency or not because
19:06
someone came to me the other day they
19:07
said
19:08
oh we've been here 10 years but we
19:10
haven't got our residency and we're not
19:11
tax resident and i looked to them i said
19:13
look you are resident annual tax
19:15
resident
19:16
uh you've got a residence bank account
19:19
the bank's changed you
19:20
hacienda knows how cinder can go back
19:22
five years remember
19:24
it's not like one year so if you haven't
19:26
done your tax returns and you've been
19:27
living here they can go back five years
19:29
they can claim all that back tax and
19:31
they can fine you
19:32
so for those of you who've been living
19:33
under the radar think you can still do
19:35
it
19:35
please please please think again please
19:38
try and get everything in order as much
19:39
as possible i'm not trying to scare
19:40
people
19:41
if you live in spain and you like living
19:43
in spain and you want to stay here
19:44
most people do everything above board
19:47
there's a few who don't
19:48
so please just take care christina brady
19:50
is in for on black tower financial
19:52
management first one back in
19:53
post lock down in the studio here um so
19:56
what are you doing work wise you still
19:57
you're pretty much out and about in at
19:58
the office now we
19:59
we are actually very very busy um as i
20:02
said to you i was out seeing a client
20:03
yesterday
20:04
um it was quite a long drive um usually
20:07
people come to the office which means i
20:08
can see more clients in the day but if
20:10
they're elderly
20:11
and they find it difficult to come to
20:12
the office i do go and visit them
20:14
but this one was quite a driver it took
20:15
up more maybe about five six hours of
20:17
the day which means you can't do
20:18
anything else
20:19
and when you're busy that is quite a
20:20
long time we've had lots of people
20:22
contacting us they've got
20:24
cure-ops with other financial advisors
20:28
and their tie-in period was 10 years and
20:31
their 10 years are coming up
20:32
and they're coming to me to transfer
20:34
because maybe their portfolios haven't
20:35
done well
20:36
they're not happy with the charges and
20:38
most of them think after 10 years their
20:39
charges have gone to zero now with this
20:41
one company
20:42
um the charges don't go to zero they
20:44
carry on at the same rate
20:46
even though you've come to the end of
20:47
your 10-year charging period
20:50
and it's quite a high charge so i'm
20:51
working a lot on people trying to
20:52
transfer these over
20:54
to cheaper investments because you try
20:57
and keep
20:58
the charges as low as possible and also
21:01
most of these people have been invested
21:03
in what we would call mirror funds
21:05
internal funds which means you don't get
21:07
the same gains as if you're in market
21:09
funds
21:10
um so they're losing out on the uh
21:13
revenue they're getting well the growth
21:14
they're getting from their funds and
21:16
also the fees are
21:17
dwindling their returns so we've got
21:19
lots of people coming to us as well
21:21
people coming to us from continental
21:22
wealth who had uh
21:24
pensions with them maybe their pensions
21:27
have fallen
21:28
um and there's not much of a value in
21:30
there
21:31
and it makes sense to maybe close them
21:33
down to avoid charges
21:35
but still keeping the options going if
21:37
there's any recompense for
21:39
miss selling or anything if any of the
21:40
court cases that going through for
21:42
continental wealth come out in their
21:43
favor
21:44
so we're working on that as well
21:46
obviously we can only take on so many
21:47
because there's a lot of work
21:48
involved in the continental wealth stuff
21:50
but we do try to give people guidance
21:52
and point them in the right direction uh
21:55
regarding people that are being charged
21:56
too much on previous things they took
21:58
out
21:58
if you took it out 10 years ago it was
22:02
quite
22:02
usual for financial advisors to earn
22:05
quite a lot of commission
22:06
in those days there wasn't so many rules
22:08
and regulations it was the same in the
22:09
uk
22:10
financial advisors used to earn a lot in
22:12
commission since then
22:13
things have changed in the uk you've got
22:15
the non-commission route
22:17
in spain now you can pay upfront fees or
22:19
you can pay commission and commission
22:20
has come down substantially
22:22
so people are finding when they come to
22:24
the end of their five
22:25
eight ten year thing they're looking at
22:27
the charges and realizes they can get
22:28
them
22:29
cheaper elsewhere and if you're in that
22:30
situation or you've got an investment
22:32
you want reviewed
22:33
please just get in touch we are here to
22:35
help you and it's just not myself there
22:37
is another seven ifas within the costa
22:40
blanca
22:40
we cover the balearics we cover the
22:42
canary islands we cover the costa del
22:44
sol
22:44
barcelona madrid we've got offices
22:46
across spain across europe across france
22:49
across italy
22:50
gibraltar you know netherlands norway
22:53
sweden
22:54
cyprus malta so if you're any of those
22:57
countries and you do need help black
22:59
tower
22:59
is a is a you know global organization
23:03
financially sound financially secure um
23:06
has been here for over 30 years nearly
23:07
35 years and hopefully we'll be here for
23:09
another 30 years
23:11
um so you've got that security behind
23:13
you
23:14
and you've got the knowledge that you're
23:15
not dealing with in one or two man band
23:16
and we could disappear overnight
23:18
and it kind of brexit proof as far as
23:20
the regulations
23:22
yes if we do a no deal brexit at the
23:24
moment we're regulated through gibraltar
23:25
it may be difficult for gibraltar to do
23:28
business in europe
23:29
so we have got another head office set
23:32
up
23:32
a second one in cyprus so that means we
23:35
still can use
23:36
do business within europe and we are
23:38
authorized and regulated to do business
23:40
in every country we deal in
23:43
so you have no problems whatsoever and
23:45
if you need to get in touch you can
23:46
always email
23:47
info at black tower fm that stands for
23:51
financialmanagement.com
23:52
if you put the attention of christina it
23:55
will come straight through and i'll look
23:56
at it either deal with it myself or pass
23:58
it on to the best person
23:59
or bay radio or one word at
24:02
black tower fm stands for financial
24:04
management dot com
24:05
yeah use that one so that we know people
24:07
are listening and reacting to uh
24:09
they usually do they say we heard you on
24:11
bay radio and we do keep
24:12
uh you know track of everything on our
24:14
system we have a crm system so we have
24:16
to put where the lease comes from so we
24:17
know
24:18
or you can always phone the office the
24:20
office is always manned that
24:22
is 965-058212
24:27
or you can always email studio bay radio
24:29
dot
24:30
fm and they will pass everything on or
24:33
you've got my mobile which is six five
24:35
eight
24:36
eight nine two three three zero and we
24:39
try to come back
24:40
to you within 24 hours sometimes within
24:42
a few hours it depends when your inquiry
24:44
comes through
24:45
even at weekends we try to get back to
24:47
you just to let you know we've got your
24:48
inquiry and we are looking into it
24:50
sometimes inquiries are going into spam
24:52
into junk
24:53
if you don't hear from us please email
24:56
again or look up the phone number
24:58
for the office and it's it's under costa
25:00
blanca but it covers the lyrics
25:02
um it you know we can give you any
25:04
details of any office if you get in
25:06
contact with us
25:20
you
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