Most expats probably need financial advice at some point in their lives; especially when you are going through a major life event such as having a child, buying a house, or deciding when and how to retire.
The benefits of using an independent financial consultant are many, including:
- Help you plan and set life goals (i.e., at what age do you want to retire?).
- Help you lower your taxes and make sure you know and use all your tax-free retirement and savings.
- Grow the value of your pensions or investments by recommending a diversified portfolio and reviewing it regularly.
- Providing a sounding board to help you make better decisions with your money.
In which areas does an Independent Financial Consultant advise?
A consultant provides independent advice on a range of financial matters, including:
- Savings and investments – including but not limited to deposits, stocks, and bonds.
- pensions – building up your pension fund, options, and advice on pension transfers.
- Protection – an income protection insurance policy, life insurance or critical illness insurance, medical expenses insurance
- More complex areas – such as wealth and tax planning.
What can I expect when I call on a financial consultant?
Initially, a consultant discusses your current circumstances, your lifestyle and financial goals and your budget – this is known as ‘fact-finding’.
He will then conduct extensive research on the entire market and provide you with a report, tailor-made for you, explaining the reasons behind the advice.
Once you understand and ask any questions, he will help you put your plan into action and invest your money in the right diversified portfolio.
What are the benefits of using an independent financial consultant?
A consultant will often ask a series of “what if” questions you may not have thought of and help you figure out what your financial goals are. For example, at what age do you want to retire and how much money do you need based on the lifestyle you desire?
If you want to arrange a complex financial product, such as a pension or investment, it can save you (more) money by seeking independent financial advice, especially if you are not sure about the legislation and tax treatment surrounding it.
The real value of financial advice is seen in the longer term after you have created your financial plan. Your consultant will meet with you regularly (at least annually) to review your financial plan and ensure it remains appropriate for your current situation. He will adjust your portfolio as markets or tax rules change to ensure you stay on track to achieve your longer-term life goals.
How much does all this cost?
Expat Wealth At Work offers you no-obligation advice during a first appointment, to understand in which areas you would like financial advice, to determine how we can help you and to give you an idea of whether you feel comfortable working with us.
If you want to commit after this first appointment, we charge a performance fee, i.e., we only receive income directly related to the performance of your portfolio, which means we make the best investment choices for you. We lay down this performance fee in an agreement before we start working with you.
How do I get professional financial advice now?
If you would like to know more about how we can help you plan and achieve your financial goals, please feel free to contact us.
Contact us today for a no-obligation conversation.
We advise expat clients around the world.