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A new financial product launched today by Woodbrook Group has been heralded as a "game changer" for American expats by the company's CEO, Michael Doherty.
Universal Access Bonds (UABs) seek to respond to recent difficulties in investment for overseas Americans due to legislation including FATCA, and complex regulations relating to the management and reporting of finances belonging to US Citizens who live and work outside of the United States.
Explaining the new Bonds, Mr Doherty remarked that "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. Woodbrook operates under the highest level international regulatory framework, which means we ... look after clients of all nationalities all over the world."
Robert Rigby-Hall, Universal Access Bonds CEO, said that UABs will "change the investment landscape for ex-pats ... 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 allowing 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."