Several years ago we were introduced to safewealth advisories (SafeWealth ) and have some of our wealth stored with them in a vault (not a bank) in Basel. We can store metal of different kinds and also physical cash notes of several countries. I can request they sell some of my metal and purchase cash notes or wire the proceeds to my local bank.
CBC News published this informative and interactive demo to show how wealthy store their riches in other countries to avoid taxes. Some of these schemes they list get very intricate, including elaborate trusts, LLCs, phony lawsuits, RIP insurance policies, currency swaps, etc. Interesting, but with FATCA requirements, most of these may no longer apply to US citizens.
Hi, I was wondering how safe the Safewealth Group is. I have heard about them elsewhere. However, I do not have enough information to know that they are a genuine operation and what the potential for fraud is. Can you please help.
My research into the SafeWealth Group indicates that it is an advisory firm only, and it does not hold custody to any of its clients’ assets. Instead, it will introduce you to safe banks and vault storage institutions, and make recommendations on asset allocation. But you will still need to do you own due diligence on the recommended institutions, which are independent of the SafeWealth Group. And you will also need to manage your own asset allocation, or have one of the recommended institutions do it for you. Based on this business model, I would be of the opinion that thepotential for fraud on the part of the SafeWealth Group is quite low.