This is a very important question and one raised many times in forums and during seminars. I think there are six key factors in choosing a financial adviser who will be right for you:
Can I work with the adviser?
A financial adviser is someone who is not just here for your needs today, but someone who will be around for the long term. As your needs change, your adviser needs to be able to go through these changes and tell you when the French or UK government make changes that can impact your financial position.
Who do they work for?
It is important that you get an understanding of the company your adviser works for. Google them, or look for forum threads, to see how other expatriates have found dealing with them. It is important to know not just that they have a good reputation, but that they are quick to act in the event of any issues which may arise.
Are they regulated within the country you live?
Whilst the UK can still “passport” financial products to the EU, there is no guarantee that this will continue seamlessly after Brexit. One way you can ensure whatever happens that you face the least amount of change is to deal with a company regulated in the country where you live.
What is the advisers experience and history with their company?
Has your financial adviser a history of financial advice and not just a background in financial services? You want to ensure that the knowledge they have is relevant to your financial needs. It can also provide comfort if you know your adviser has been with their current company for some time.
Can they provide testimonials from recent customers?
There are few better ways of putting your mind at rest than asking your adviser if you could speak over the phone to one of two of their existing customers. It provides great peace of mind, when looking at a new financial partner.
Are they open and transparent, regarding any costs and fees involved in using them?
When you first meet your adviser, ask them for any terms of business and how working with them would progress. Be sure to ask whether there are any upfront costs involved and what the ongoing fee structure will be. You should know in advance of any commitment how they will deal with you and your estate.
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