Should You Use
FinTech for
High Value Transactions?
FinTech
Should you use FinTech to handle high value transactions?
FinTech is definitely gathering hype, investment, and promotion. It is a fashionable word to use.
Very often it is promoted as the future and the only solution to be realistically considered.
However, the question remains:
Can a Regular FinTech Platform Handle High Value Transactions?
The answer is a “no”. These platforms are usually profiled and equipped to handle smaller transactions.
This allows the FinTech business to scale through the smaller transactions and attract smaller, but dependable users.
Most users are comfortable with smaller numbers, risks, and exposure.
The FinTech Marketplace
This is what you find when you look around in the marketplace. There are numerous platforms. However, then these are the usual limitations:
- We only do corporate clients
- We do not do private clients
- We cannot do complex high value transactions
These platforms are unable to serve the ultra high net worth individuals and their high value transactions.
There are Many Issues with FinTech:
- The staff is not trained
- The systems are not in place to handle complex legal files
- No idea how an ultra high net worth individual and intrinsic high value transaction shows up
- Clear lack of sophistication
- Not sure how the compliance requirements are observed and complied with.
You Need a Solution
You need a solution to help you plan your next high value transaction, which involves cross-border elements and multiple currencies.
You also need a Global Wealth Strategy in place to help you address more complex features, such as tax compliance and tax planning. And broader considerations for your global wealth.
Help with High Value Transactions
Book a call with me as you plan your next high value transaction and need help with foreign currency exchange.
You Need a Global Wealth Strategy
Discuss your Global Wealth Strategy with me as there are additional considerations in you making the next high value transaction.
Arranging your affairs in tax compliant manner and implementing necessary onshore and offshore legal arrangements to protect your global wealth.
Book a call to discuss your Global Wealth Strategy.
Saule Voluckyte, M.A.E.S, LL.B, FAIA
I have been working exclusively with UHNWI in Mayfair, London since January 2008. I built specialist knowledge and expertise required to serve ultra high net worth individuals investing, operating and relocating to the UK or Switzerland.
Within the industry, I am the single adviser who is able to traverse the different areas of expertise and bring a comprehensive approach across: global structuring, UK immigration, international taxation and FOREX to develop their global wealth strategy, while they build, grow and expand their wealth worldwide.
Previous experience as one of the senior advisors for the government, made me a go-to person when delicate and uncomfortable scenarios involving heads of state need to be handled with care and preserve privacy.
Contact a family office specialist to discuss your needs.
As somebody who specializes in tax, wealth management of ultra high net worth individuals’ assets and legal requirements for high net worth families, my sole purpose is to help you protect your family’s legacy.
Should you have a specific enquiry on how to start your own family office, please book a call below.
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