Why choose us?
We like to say that when it comes to your money, there is no dress rehearsal. The financial decisions you make now as an expat can have a lasting impact on your wealth. Finding a trusted financial advisor to make smarter decisions is no easy task. The reason is simple, anyone can use the term "financial advisor" in the expat financial services industry. We've seen insurance agents, bank clerks, and even real estate agents use the designation.
To really determine if your financial advisor has your best interests at heart, look for the following features. Ultimately, your path leads to a financial advisor who only works with a performance fee.
#1: Your Advisor's Legal Obligation: The Fiduciary Oath
A performance fee only financial advisor is an independent advisor organized as a registered investment advisor and he has a fiduciary duty to his expatriate clients, which means he must put his client's best interests above his own.
In practice, this means that the advice you receive is completely transparent. There are no alternative agendas motivating your advisor other than what is best for you. It is the most honest relationship you can have with an advisor. You both sit on the same side of the table.
Why We Follow the Fiduciary Oath
Frankly, it takes the "sales" out of your relationship with us. There is no quick sale, no "opportunity not to be missed" or "guaranteed" returns. Taking the fiduciary oath raises the level of care to do what is in your best interest responsibly.
"A fiduciary has two standards that must be met: is the advice appropriate and in your best interest? The only way we know how to do that is by being 100% transparent about our fees and deriving our recommendations from financial plans."
#2: How your advisor makes money. No product sales or commission
Taking the fiduciary oath as an advisor is a good first step. However, this does not mean that the advice you receive will be conflict-free. Conflicts arise when incentives are involved. It has nothing to do with giving advice in your best interest. It has everything to do with how your advisor chooses to give your advice.
A deeper level of responsibility
It is easy to say that a particular product, such as a life insurance policy (portfolio/investment bond), is in your best interest. But since there are commissions/fees associated with the sale of that policy, how do you know that your financial advisor is not advising you to buy a very expensive life insurance policy that pays him fat commissions? … Hence the conflict of interest!
You hope that your advisor doesn't just offer products where they get the most commissions. But why take the gamble?
If a financial advisor is paid with a performance fee, he will be completely objective with the products you need and the recommendations he offers.
If you work with a fiduciary, you've passed that first hurdle. By adding a performance fee compensation structure, you can be sure to remove as many conflicts of interest as possible. A fiduciary financial advisor with a performance fee has three main benefits:
- The advice you receive is not based on product sales.
- You know what fees are charged and how they are paid.
- If you do need products, your advisor will be objective in recommending the right one.
"Working with a fiduciary ensures that your best interests are at the forefront. By adding a performance fee, the fixed fee structure adds an extra level of transparency."
#3: Dedication to be better. Certified financial consultant
The "Certified Pension Planner" designation shows that your financial advisor has completed the lengthy education and experience requirements to meet the complexities of your financial situation. We will spare you the exam details, but on average it takes about 1-3 years to qualify for the exam. Then you must succeed! By making this sacrifice, one takes one's job seriously. It is the only way in the expat financial planning industry to differentiate those who are wealth managers from the cowboys who are just trying to make a quick buck.
You can learn more about why that "certified" designation matters, namely through the systematic approach. When you work with us, our experience follows the "Certified Pension Planner" procedure to create and develop your financial plan:
- Establish a relationship.
- Collect your data and develop your goals.
- Analyzing and evaluating your financial situation.
- View recommendations.
- Your way of acting.
- Monitor your portfolio and your progress.
Every financial plan we design follows these guidelines to ensure thorough analysis and customized recommendations.
"Anyone can use the term financial advisor. But CERTIFIED has to be earned!"