Wealthy Americans flee Trump-era uncertainty, move millions to UK wealth managers

Wealthy Americans are increasingly turning to the United Kingdom to safeguard their fortunes under Trump-era uncertainty and looming policy shifts.

They are mostly concerned about the political and economic state of the United States under the influence of President Donald Trump.

Leading UK wealth groups report soaring demand from US-based investors as clients seek to protect their funds by transferring them to more stable systems. 

The phenomenon is growing rapidly. UK companies describe it as “unlike anything we have seen for years.”

Rathbones, RBC Brewin Dolphin, Evelyn Partners, and Schroders Cazenove say that more US clients were looking to move a greater portion of their wealth to the UK while others had already done so.

Schroder US Wealth Management chief executive Toby Glover said new client inquiries and assets had surged over the last year.

Interest from US clients is “markedly higher” than when Trump first took office, said Nick Ritchie, a senior director at RBC Wealth Management. He said some US clients would shift as much as 50% of their wealth to the UK or Channel Islands. Still, the majority are moving between 5% and 20% of their riches.

Others are moving money into trusts, too. Ritchie said this provides “an extra layer of protection” against future legal or political risks in the US.

Wealthy Americans are seeking a safer place for their wealth

James Blosse-Lynch, investment director at Rathbones, said clients increasingly saw the UK as a “getaway” option. He cited one client who increased the share of their wealth managed in the UK from negligible levels to a full quarter of their portfolio. He added that clients had been seeking a plan B, and the UK was the first stop for many.

Other alternatives clients are looking at include Italy, Switzerland, or Dubai. But they are “parking” their money in the UK as they strategize their next move.

Nick Reeves, a financial planner at Evelyn Partners, said that one of his clients was considering buying property in the UK to move money outside the US legal system. He said the client was concerned about potential asset seizures.

While these concerns are not new, they have become increasingly pronounced amid fears of political instability.

Trump-era decisions fuel financial fears

Recent measures taken by Trump’s administration have stoked the flames. The administration announced a new series of tariffs on US imports just a few days ago. The market reacted badly. In two days, American stocks lost $5.4 trillion in value.

Investors are becoming more jittery, with Roy Clouse, senior investment director at Canaccord Wealth, saying there is increasing worry that Donald Trump is operating outside the normal rules. He added that Trump could alter laws determining where and how Americans can invest, which was alarming enough for clients.

Others worry that Americans may find investing in foreign currencies or markets more difficult under Trump. That prompts them to move quickly while still having the means. Even with the UK’s recent abolition of its “non-dom” tax benefits, US interest continues to run high.

Foreigners can live in the UK and suffer no tax on foreign income for four years under new rules — as long as they haven’t lived here in the last ten. Some experts think this four-year gap has allowed Americans to dip their toes in the water.

For now, UK wealth managers are positioning themselves as the calm amid the storm—welcoming US millions with open arms and carefully tailored tax solutions.

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