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January’s Case Study – Clients Buying Property Abroad

Your clients rely on your guidance in financial matters and are receptive when you make recommendations for specialist services – like international currency transfers.

In light of all the Brexit related volatility we’ve seen in the Pound, your clients may be making you aware of funds they hold, payments they are due to receive or purchases they wish to make in a different currency.

If you come from a banking background, you’ll be familiar with the poor exchange rates, transfer fees and lack of support your clients could receive from some providers.

By introducing your clients to a leading currency provider you’ll be helping them take control of their transfers, saving them time and money.

IFA Magazine have worked with TorFX since 2013 and recommend their services to both advisors and their clients.

TorFX have a dedicated Wealth Management team who support over 7,600 advisers across the UK, and advisors have the option to work with their personal Partnership Manager or make referrals via their online partner portal.

Their service is non advisory, so you can refer clients based anywhere in the world, as well as your colleagues, friends and family. While your clients will receive excellent exchange rates and exceptional service, you’ll receive a referral fee for making the introduction.

You can also rest easy that your clients are in safe hands as TorFX have won the Consumer Moneyfacts International Money Transfer Provider of the Year award for four years running (2016-2019) and hold an ‘Excellent’ Trustscore on Trustpilot.

To showcase the kind of requirements TorFX can help with, we’ll be sharing 12 case studies over the course of 2020…

Case study

Situation

A couple spoke to their financial adviser about their plans to buy a property in Spain.

While they were early on in the process, their advisor suggested having a no-obligation chat with TorFX in May 2019 so they could understand the options available to them.

After talking through their requirements they decided to open an account the same day.

Outcome

The couple were concerned about the deterioration in the GBP/EUR exchange rate, but their account manager kept them up-to-date with the latest news and helped them set up a rate alert so they’d be informed automatically by text and email if the rate dropped further.

In July they decided to fix the exchange rate at €1.11 using a forward contract.

By the time they were ready to transfer their funds in August the rate had dropped to €1.06.

If they hadn’t secured the rate their £275,000 transfer would have been worth €13,750 less!


To find out more about referring your clients to TorFX, please click HERE

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