How to choose the right financial and investment adviser if you are an expat in Europe

Choosing the right professional to guide you through life’s big decisions requires careful consideration. When you are considering engaging a financial and investment adviser it is important you do due diligence to make sure you are employing the right person for you.

If you an international professional living outside your home country, in Europe, you need some specific attributes and skills. We have put together some questions you can ask to help you to make the right decision for you. Their answers to these questions will give you insight into their professionalism and experience, as well as into their investment philosophy and their integrity. It will also give you a sense if they are the right adviser for you and if you are the right client for them.

The questions:

1. How and where are you licensed?

This can relate to the individual you are speaking with and also their company. Check what license they hold, where it was issued and which regulatory body supervises them. It is important to make sure it is credible and professional. Their response will also show  you how you are protected under consumer protection regulations.

2. Are you independent?

This question is asking both about the type of license and how they operate philosophically. A firm that is independent will operate in the best interests of the client, and cannot ever receive any commission or inducement from a product provider.

3. Describe your typical client that you work with

The purpose of this question is to see if they describe someone like you.

4. How do you get paid and how do I pay you?

This is actually three questions. First, how does the firm get paid? Do they receive commissions or overrides from product provider? If they do, they are not independent. Second, how does the adviser get paid? Is it salary or commission? Third, how do you pay them? If they tell you there is no charge, this is always a red flag and not an appropriate answer. It means there is a commission payment hidden somewhere. The firm should be clear in how much and how you pay for the service you receive. In fact, if you engage them, make sure they give you this in writing.

5. What is your financial and investment planning approach?

In this question you will get an insight to how they look after their clients and how they structure the advice they provide. You can also get an insight into their financial planning and investment philosophy.

6. What ongoing service can I expect?

Very important. Once you are set up as a client, you want to make sure you are not forgotten and that you will receive regular contact and updates from your adviser and the firm.

Partnering with the right professional firm can have a significant impact and help you to achieve your financial and life goals. These questions will give you an insight to be able to make an informed decision about engaging the right financial and investment adviser for you.

If you would like to find out more about the Extended Investments Limited team approach to client service, our answers to these questions, and how we can help you , contact us at info@extinvestments.com.