What Should an Australian Expat Look for in a Financial Adviser?

Living and working overseas is an exciting chapter of life. But managing your finances as an Australian Expat is rarely straightforward. Between navigating tax obligations in multiple countries, managing superannuation from afar, and making informed investment decisions across borders, the complexity of your financial situation is different from that of someone who is residing in Australia.

Choosing the right Financial Adviser is one of the most important decisions an Australian Expat can make. Without appropriate professional advice, Australian Expats can make costly mistakes, miss opportunities, and cause unnecessary stress. So, what should an Australian Expat look for in a Financial Adviser?

Specialisation in Australian Expat Financial Advice

When considering what an Australian Expat should look for in a Financial Adviser, specialisation sits at the top of the list. Australian Expat financial planning is a niche field, and the advice required is materially different from domestic financial planning.

A Specialist Australian Expat Financial Adviser will understand the nuances of:

• Australian tax residency rules and their implications for investments, superannuation, and property;

• The interaction between Australian and foreign tax obligations;

• How living overseas affects retirement planning, insurance, and estate planning;

• The impact of your country of residence on your Australian financial affairs.

A generalist adviser who does not work with Australian Expats regularly is unlikely to have the depth of knowledge required. When interviewing a prospective Financial Adviser, ask them directly: how many Australian Expat clients do they currently advise? The answer will quickly tell you whether they specialise in Australian Expat financial advice.

A valid Australian Financial Services Licence (AFSL)

Any Financial Adviser providing advice on Australian financial products must operate under an Australian Financial Services Licence (AFSL). This is not optional and is a legal requirement under Australian law.

Before engaging a Financial Adviser, confirm that they are a registered Financial Adviser on ASIC's Financial Adviser Register. This register is publicly available and verifiable. It will confirm whether the Financial Adviser holds the appropriate authorisations and whether there are any concerns on their record.

Be cautious of Advisers who operate offshore and offer financial advice on Australian products without holding the appropriate Australian licence.

Relevant Qualifications and Professional Credentials

Financial advice in Australia is a heavily regulated profession. Financial Advisers are required to hold relevant tertiary qualifications, pass the ASIC Financial Adviser Exam, and complete ongoing Continuing Professional Development (CPD) each year. They are also required to adhere to the Financial Planners and Advisers Code of Ethics.

When selecting a Financial Adviser, look for someone who has:

• A degree in financial planning or a related field;

• Completed the ASIC-administered Financial Adviser Exam;

• A demonstrated commitment to ongoing professional development;

• A clean record on the ASIC Financial Adviser Register.

Qualifications alone do not make a great Adviser, but they are the foundation. Experience working with Australian Expats in real, complex situations is equally important.

A Comprehensive Suite of Expat-Relevant Services

As an Australian expat, your superannuation, investments, property, tax planning, and retirement goals are all closely linked. A decision in one area can have a significant impact on the others. The ideal Financial Adviser should be able to look across all areas of your financial life and provide holistic, coordinated advice.

Specifically, look for a Financial Adviser who can assist with core services, including:

• Superannuation: reviewing, structuring, and optimising your super while you are overseas;

• Wealth Management: building and managing an investment portfolio appropriate to your global circumstances;

• Tax Financial Planning: understanding your Australian tax obligations as a non-resident, including capital gains implications and foreign income considerations;

• Retirement Planning: developing a long-term retirement strategy that accounts for your life overseas and your eventual return;

• Property Analysis: providing clear analysis on the implications of owning or selling Australian property while living abroad.

A Structured and Transparent Advice Process

Great advice is not just about what is recommended; it is about how it is delivered. Before engaging a Financial Adviser, ask them to explain their advice process. A well-structured process should include an initial discovery meeting to understand your goals and circumstances, a detailed Statement of Advice (SOA) that clearly sets out the recommendations and their rationale, implementation support, and an ongoing advice relationship that evolves as your circumstances change.

Transparency around fees is equally important. You should have a clear understanding of what you are paying for and how your financial adviser is remunerated. Be cautious of advisers who are vague about their fees or whose remuneration is linked to product commissions.

In Australia, licensed Financial Advisers are prohibited from receiving commissions on investment and superannuation products, with limited exceptions for certain insurance products. As a result, product-based remuneration is more commonly a concern when dealing with international providers, particularly in jurisdictions where regulatory standards may not be as stringent.

Ongoing Advice and a Dedicated Adviser Relationship

Your financial circumstances as an Australian Expatriate are likely to evolve over time. Tax laws change, your country of residence may change, and your income, family situation, and financial goals will naturally shift throughout different stages of life.

For this reason, a one-off piece of advice is rarely enough. The right Financial Adviser should provide a genuine ongoing relationship. Look for a Financial Adviser who proactively reaches out, keeps you informed of relevant changes, and is accessible when you need to ask a question or make a decision.

Ongoing guidance and regular reviews can help ensure your financial strategy remains aligned with your objectives and adapts to changes in both your personal circumstances and the regulatory environment.

A Global Perspective and Experience Across Multiple Jurisdictions

Australian Expats live in every corner of the world. Your Financial Adviser should have experience working with clients across a variety of countries.

This does not mean your Australian Financial Adviser needs to be a tax expert in your country of residence (they should not purport to be), but they should understand how the two worlds intersect and, where necessary, be able to work alongside local tax professionals in your country of residence.

How Runway Wealth Management aligns - What should an Australian Expat look for in a Financial Adviser

At Runway Wealth Management, every aspect of our practice is built around the specific needs of Australian Expats. Here is how we align with the key criteria outlined in this blog:

Genuine Specialisation: We are a specialist Australian Expat financial advice firm. This is not a side service; it is our entire focus. Our Director, Mitchell Kelsey, has over 13 years of experience in the financial services industry, with deep specialisation in financial planning for Australian expatriates. We currently advise clients in more than 25 countries.

Licensed and Regulated: Runway Wealth Management Pty Ltd operates as a Corporate Authorised Representative (No. 001272673) of Wealth Today Pty Ltd (ABN 62 133 393 263), AFSL 340289. All advice provided is backed by the appropriate Australian licensing framework.

Qualified and Committed to Excellence: Our Director, Mitchell, holds a Bachelor of Commerce with majors in Financial Planning and Finance, a Diploma of Financial Planning, and has successfully completed the ASIC Financial Adviser Exam. He participates in ongoing CPD each year and adheres to the Financial Planners and Advisers Code of Ethics.

Comprehensive Services: Our service offering covers the full breadth of what an Australian Expat needs, including Superannuation, Wealth Management, Tax Financial Planning, Retirement Planning, and Property Analysis & Modelling. We take a holistic view of your financial situation and provide coordinated advice across all areas. We also have a broad range of Expat-related professionals within our network, including tax accountants, solicitors, brokers and more.

A Structured Advice Process: We follow a clear and transparent advice process, from initial discovery through to implementation and ongoing review. Our clients understand exactly what advice they are receiving and why it is being recommended.

Genuine Ongoing Relationships: We build long-term relationships with our clients. You will deal directly with our Director, Mitchell Kelsey, who will come to know your situation, your goals, and your circumstances deeply. We provide proactive, ongoing advice that evolves with your life.

A Highly Personalised Service: One of the most meaningful differences at Runway Wealth Management is the level of personalisation our clients experience. You deal directly with Mitchell Kelsey, our Director, supported by our dedicated operations team. This means your Financial Adviser knows your circumstances intimately and every recommendation is built around you specifically.

Global Experience: With clients in over 25 countries, we have developed a broad understanding of the cross-border considerations that affect Australian Expats living in diverse jurisdictions around the world.

We aim to provide our clients with clarity, confidence, and peace of mind, empowering them to make well-informed financial decisions, no matter where in the world they are. To learn more about Runway Wealth Management, explore Our Team.

You can also explore the comprehensive range of services we offer to Australians living and working overseas.

Final Thoughts

Understanding what should an Australian Expat look for in a Financial Adviser is the first step toward making one of the most important financial decisions of your Expat journey. Specialisation, qualifications, a comprehensive service offering, and a genuine ongoing relationship are all non-negotiable. Take the time to ask the right questions before engaging a Financial Adviser, and make sure the person you choose truly understands the unique complexities of life as an Australian Expat.

Runway Wealth Management is the trusted Financial Adviser to the Australian Expat community. Our tailored advice is backed by expertise, education and experience, which allows us to be at the forefront of Australian Expat Financial Planning.

If you would like to speak to one of our Expat Financial Advisers about this blog or if you have other queries, we would be more than happy to speak with you. Feel free to send us an enquiry through the 'Contact Us' tab provided in the link below:

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General Advice Disclaimer: The information contained herein is of a general nature only and does not constitute personal advice. You should not act on any recommendation without considering your personal needs, circumstances, and objectives. We recommend you obtain professional financial advice specific to your circumstances.