How to Select an Expat Financial Advisor?

Choosing a expat financial advisor. Once you’ve joined the ranks of the Australian expat community you will soon discover that with your new status comes both amazing opportunities (suddenly being able to jump on a plane and fly to a different country in an hour is an option) but you will also become the target for the well-known “Offshore Adviser”.

For the last 20 years, the offshore advisory industry has received a lot of negative press about the high-pressure sales tactics they use to sell financial products under the guise of providing financial planning and for good reason too. Just Google bad offshore financial advice and sit back and read the results.

The financial advice that we provide to Australian expats is not only tailored to your citizenship but also where you are domiciled.

The tax financial advice that we provide to Australian expats is not only tailored to your citizenship but also where you are domiciled.

For example, the advice that we provide an Australian expat in San Francisco would be completely different to the financial advice that we provide to an Aussie expat in Hong Kong or Dubai.

Quite often these offshore advisory firms will have a team of advisors whose job it is to sign you up to some sort of savings plan or “tax-effective bond” and once you commit for 5, 10 or 20 years they will then move onto the next expat.

While these offshore advisory firms will tell you that their speciality is in providing financial advice to expats, more often than not they will be providing you with the same advice that they have provided to a UK, Canadian or South African expat.

The advice only relates to your situation as an expat in that country and does not take into account the possibility of you either moving back to Australia or to another country.

It is important to ensure that when you obtain expat financial advice that the advice is portable. By that we mean that it is appropriate for not only the country that you live in but also the possibility of either moving back to Australia or to another country that may not have as favourable tax structure.

There’s a big difference in what is appealing as an Aussie expat in Dubai versus being an Aussie expat in New York or Los Angeles.

We have prepared below a list of questions to ask an adviser should you find yourself in the situation where you would like to consider the offshore investment option.

Questions to ask

General Advice Disclaimer

The information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your Atlas Wealth Management Authorised Representative before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Atlas Wealth Management nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.