Imagine this: Your client inherits $1.7 million from a relative in the US. They’ve made peace with the paperwork. Probate is wrapped up. All that’s left is to transfer the funds into their UK account.
But then what?
If the answer is: “The bank will handle it” — it’s time to take a closer look.
Because in that one moment — the moment the currency is exchanged — your client could lose tens of thousands of pounds. Quietly. Instantly. Irreversibly.
The Hidden Costs of Cross-Border Inheritance:
Currency exchange isn’t something most clients think about — until it’s too late.
High street banks often offer poor exchange rates and hidden margin spreads that go unnoticed. On a transaction as large as $1.7M, even a small difference in the rate (say, 2–3%) could mean a loss of upwards of £10,000 — just like that.
Why This Matters for Professional Advisors
Whether you’re an IFA, para-planner, wealth manager, or solicitor — your clients rely on you to protect more than just their portfolios. They expect clarity. Strategy. And value.
Foreign exchange is often treated as a footnote. But in cross-border estate planning, it’s a critical financial touchpoint. One with real, measurable outcomes.
- Advisors who spot FX risks early can save clients money, demonstrate added value, and strengthen trust.
- Those who overlook it may leave their clients at the mercy of the banks — and their credibility open to question.
Real Example:
A bank offers an exchange rate of 1.385
A specialist offers 1.37
On $1.7M, that’s a difference of almost £13,500
*Based on rates as at: 23/01/26
So, What Can You Do?
Here’s how to make sure your clients don’t lose out:
1. Start the FX conversation early
When international assets are involved — inheritance, property, trust funds — bring FX into the plan from the outset.
2. Work with a dedicated FX partner
Specialists like MFX provide competitive rates, fast transfers, and personal service — while you stay in control of the relationship.
3. Use it to add value
Your clients aren’t expecting you to handle every technicality — but they are counting on you to connect them with the right support. Being proactive on FX protects their outcomes and enhances your service offering.
A Final Word
It’s not just about rates — it’s about responsibility.
As financial professionals, we’re trusted to guide clients through life’s biggest transitions: retirement, inheritance, global moves. FX may not be the flashiest part of the plan, but done right, it makes a huge difference.
If you’re supporting clients with cross-border finances — talk to us.
We’ll help you protect their wealth, without complicating your process.
Want to know how we support advisors like you in 2026?
Our local FX experts are available for informal meetings to explore how we can help you — and your clients — navigate FX smarter.
Call us today on 01624 694732 to book your non-obligation chat.
