Your wealth should have more than one point of access.

Map the exposure before choosing the answer

Create an inventory of bank accounts, cash, investments, pensions, business interests, property, debts and insurance. Record the legal owner, custodian, currency, jurisdiction, access conditions and relevant protection scheme. Do not share account numbers or security credentials in an initial planning brief.

Ask what actually diversifies risk

Two brands may use the same banking licence. A foreign-currency balance may still sit at the same institution. Investments held overseas may still be exposed to the same market. Diversification across asset types, institutions, currencies and jurisdictions addresses different risks; none removes risk altogether.

Test access as well as location

Consider how you would pay essential expenses during a payment outage, lost-device incident or temporary account restriction. Review two-factor authentication, account mandates, powers of attorney and an appropriate accessible cash buffer with your advisers.

Understand protections and obligations

Check the deposit location and legal institution, not just the bank’s brand. UK FSCS protection has eligibility rules and limits, and overseas accounts may fall under different schemes. Foreign assets can add currency, legal, administrative and reporting exposure.

Moving money overseas does not by itself change your tax residence. UK residents normally pay UK tax on foreign income, subject to the applicable rules and reliefs.

Bring the right specialists together

Use an appropriately authorised financial adviser for personal investment recommendations, and qualified tax and legal specialists for cross-border structures. Verify relevant permissions independently. Exit Plan’s proposed concierge service would coordinate the planning brief; adviser appointments and regulatory arrangements are not yet established.