A Knight’s tale
Richard Colburn
Published in the Bangkok Post, October 20 2007
While the home countries of most expats require financial planners to be professionally exam certified this is not always the case when living abroad.
For most expats, the opportunity for tax free investing is a right that can be enjoyed and with the same quality of financial advice and financial adviser that would be available to you in your home country.
Among the best qualified and most rigorously exam tested financial advisers are those whose professional credentials have been awarded by Government licensed bodies in the UK, Canada, Australia and the US. This is because residents of these countries have fewer restrictions placed on what they can invest in and how they can invest, requiring a broader and higher level of financial planning guidance.
The best of the best
In the UK those legally qualified to provide financial planning services are known as Financial Advisers and the use of this term is strictly prohibited by anyone else. In Canada, Australia and the US, financial advisers are known as Financial Planners.
To qualify in these countries requires a considerable time commitment in professional studies as well as hands on experience in areas such as tax planning, estate planning, retirement planning, investment management and insurance planning.
Financial planning for expats
Whether working or retired, expats are typically investing far more than those back home and so the need for professionally exam qualified advisers is probably even greater. Ironically there are far fewer qualified independent financial advisers in expat locations than you would find back home. In some countries they are quite a rarity.
Do your own research
Financial planners who are exam qualified to the legally required standard for giving financial advice are eligible to join the professional bodies of their respective countries. These representative bodies can confirm the professional qualifications of their members and can be contacted through their respective portals which are:
UK
Australia
Financial Planning Association of Australia: www.fpa.asn.au
Canada
Financial Planners Standards Association: www.cfp-ca.org
US
Certified Financial Planner Board of Standards: www.cfp.net
Have your cake and eat it
By working with exam qualified financial advisers you can enjoy the benefits of onshore professional standards, with all of the flexibility that comes with being offshore.
Professional credentials allow you to ensure that whoever you choose to work with, in planning for your financial future, has been weighed, has been measured and has most definitely not been found wanting.
It’s your money and your peace of mind.
Richard Colburn is a UK qualified financial adviser with Sterling Assets.
Questions to the author can be directed to 053 839 463 or email us.
