Financial Advisors for expats

Guildfordmover

Good morning - I am a Brit who is currently living overseas in the Middle East. I am looking for recommendations for Financial Adviors who have worked with Expatriates. Unfortunately seems like there’s lots of dodgy IFA out there and experiencing lots of cold calls. Looks for a reputable IFA. Wondering if anyone has any good experience; looking for investment management and financial planning support

Thanks

dunstonh

Unfortunately seems like there’s lots of dodgy IFA out there and experiencing lots of cold calls.

Whilst the UK is highly regulated, other countries are often not up to our standards.  It used to be a case that failed advisers or sales reps that could no longer operate in the UK would go to Spain or other ex pat heavy countries.   Now the EU has moved to the same level as the UK, this leaves the Middle East and Far East as areas to exploit.   

I know someone that went out to the middle east on a promise of big, easy money.   However, he returned later and said that it was on par with 1980s UK in terms of sales and that there were virtually no ethics in place.

The term IFA has a protected meaning in the UK.  It may not do in other countries.

Even where there are larger firms with respectable UK arms, the ex-pat side often seems to retail products if a style that went obsolete in the UK 30 years ago.   High charges, not transparent, costly tie ins etc.

So, you are right to be on guard.

Notnobody

Guildfordmover said:

Good morning - I am a Brit who is currently living overseas in the Middle East. I am looking for recommendations for Financial Adviors who have worked with Expatriates. Unfortunately seems like there’s lots of dodgy IFA out there and experiencing lots of cold calls. Looks for a reputable IFA. Wondering if anyone has any good experience; looking for investment management and financial planning support

Thanks

I found a company called Abbey Wealth.  They have advisors in Europe but it can all be done online.  They assign an advisor who asks about your situation and ask you to complete a risk profile.  They make suggestions about investment, mine are with Prudential based in Ireland.  There must be a lot of similar companies. My advisor move to W1 Investment group.