New financial products that seek to dramatically alter the investment landscape for US ex-pats living across the globe have been announced today by Cyprus-based Woodbrook Group.
The launch of the Universal Access Bonds (UABs) has been described as "a game changer" for American ex-pats and US connected persons by the CEO of Woodbrook Group, Michael Doherty.
FATCA and stringent tax regulations over the past decade have severely curtailed US expatriates' financial planning and investment capabilities.
Universal Access Bonds are a game changer for American ex-pats living across the globe."
Yet the UABs allow expats across the world, including Americans and US connected persons, easy and compliant access to the benefits of investing in a diversified portfolio through underlying funds.
The funds will be managed by a number of respected international financial institutions, with the process will be overseen by Woodbrook Group Holdings.
Commenting on the launch, Woodbrook Group CEO Michael Doherty (pictured) said: "Universal Access Bonds are a game changer for American ex-pats living across the globe. They are a remarkably simple solution for ex-pats and US connected persons who are looking to invest in a diversified portfolio managed by top-tier investment managers."
Doherty added: "Woodbrook operates under the highest level international regulatory framework, which means we are look after clients of all nationalities all over the world."
Woodbrook is regulated by the Cyprus Securities and Exchange Commissioner (CySEC). It holds a MiFID II investment license passported through the EEA along with IMD insurance mediation licenses through ICCS and IHK. Woodbrook recently announced the acquisition of Mondial (Dubai) LLC, one of the Emirates' oldest established financial planning and wealth management companies which is regulated by the UAE Securities and Commodities Authority (SCA).
Commenting on the launch, Universal Access Bonds CEO Robert Rigby-Hall said: "I am delighted that Woodbrook, with their global reach and regulatory strength, is using UAB as their product for US ex-pats who have been in need of an investment solution for many years. Woodbrook is perfectly positioned to meet their needs with a strong culture of quality advice, client focus, and service delivery."
Rigby-Hall said the new financial products will "change the investment landscape for ex-pats", including the millions of Americans living outside the US with "a very limited choice of investments".
He added: "Financial planning and investing for Americans has become harder in recent years with the IRS and FATCA causing Americans to be unwelcome at many financial institutions. UABs wrap underlying funds allow ex-pats, including Americans and US connected persons, easy and compliant access to the benefits of investing in a diversified global portfolio though underlying funds in multiple currencies."