For years Britain watched its wealth quietly slip away.
A post-Brexit chill, political uncertainty, and the scrapping of the non-dom tax regime nudged many of the world’s wealthiest individuals to sunnier shores.
The once reliable inflow of international capital slowed, and London’s reputation as a global financial haven took a knock.
But now, the tide appears to be turning – and in an unexpected twist, it’s America’s elite leading the charge back to Britain.
In the wake of sweeping new tariffs announced by the Trump administration – sending shockwaves through the markets and wiping $5.4 trillion off US stocks in two days – UK wealth managers are reporting a sharp rise in enquiries from anxious US investors.
According to many firms including Rathbones, RBC Brewin Dolphin and others, the volume of US clients looking to move wealth offshore has surged.
Many are now eyeing the U, and the Channel Islands, as a stable alternative in increasingly uncertain times.
With the Trump administration accused of bypassing norms and risking legislative changes that could curb international investment freedoms, US high-net-worth individuals are now voting with their portfolios.
Ironically, just as Britain wrestles with the loss of its non-dom magnetism, the chaos across the pond is positioning the UK as the comeback kid of global wealth management.
