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Top 3 types of financial adviser for expats

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Making the decision to hire a expat financial adviser can be difficult. It’s not always easy to know exactly what a expat financial adviser is, and what they can do for you. Even more difficult to know is how they can save you money, and whether they will prove to be a good investment.

There are many types of expat financial adviser, all of whom do different things for you. Here are the top three types of investor you should consider hiring:

  1. Tax Accountant

A tax accountant is an expert at planning for tax, filing your tax returns, and preparing different kinds of financial statements. If you are looking at complicated taxes, from business interests, rental property, a home office, or self-employment income, it is vital that you hire a qualified accountant to handle your taxes for you. With the best will in the world, the layman simply isn’t well versed in tax laws and regulations. Your accountant will know exactly what obligations you have and when they need to be fulfilled. They will be able to find legal ways of reducing your tax bill and advise you on areas that are costing you too much money. They can even help you raise additional funds for your business interests.

Tax accountants are particularly useful for expats, who are dealing with unfamiliar tax systems in a new country, and may be juggling income in more than one country. Hiring a tax accountant ensures you always keep everything straight and up to date. Another important aspect is to be fully in line with the laws of whatever country is required.

  1. Banker

A banker represents a specific banking institution. They offer you a variety of services depending on the form of bank they work at. As an example, a commercial banker will be able to help you obtain a business loan. They can also open the appropriate bank accounts for your work as an entrepreneur or small business. A personal banker, on the other hand, can aid you in maximising your interest or opening an investment account.

A banker is another handy weapon for the expat to have in their arsenal. Banking differs from country to country. Language barriers and cultural quirks can also lead to misunderstandings and missed opportunities. it’s very easy to get talked into an account that’s wrong for you simply because it’s easier than trying to gain more information. That can be a costly mistake!

  1. Expat Financial Adviser

Financial advisers play a vital role in helping you to protect your wealth. Most financial adviser work on a ‘commission’ or a ‘fee’ basis, particularly commission basis internationally.

Cost is key when using a financial adviser over the long term, for example on pension management. Remember, your money is only as strong as the financial knowledge of the person managing it. Unless you are a professional financial adviser yourself, seeking help from an expert will always ensure your money is safe and growing as much as possible. Here at Harrison Brook we are a internationally focused expat financial adviser, but most importantly operate on a low cost ‘fee’ based model of advice.

Are you looking for a financial adviser? Get in touch, we’re here to help.

The information contained herein is for informational purposes only which is subject to change and should not be relied upon. You should seek advice from a professional adviser before embarking on any financial planning activity.

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