Why you should partner with an Expat Financial Adviser

Navigating the complexities of finances can be challenging, especially when you are living abroad as an Australian expat. From tax implications to investment opportunities, the financial landscape can become increasingly intricate. Partnering with a Specialist Financial Adviser can provide clarity, guidance, and peace of mind on your Expat journey.

What is an Expat Financial Adviser?

An Expat Financial Adviser is a professional adviser with specialist expertise in catering for the unique financial and tax complexities experienced by Australian Expats. The financial advice they offer will often consider your intended timeframes abroad and ensure you are adequately prepared ahead of any future relocation plans.

The advice you receive from an Expat Financial Adviser will appropriately consider your tax residency status in Australia, your tax jurisdiction overseas, and any new investment opportunities available to you as an Australian Expat. They will also be in tune with the additional risks faced by Australian Expats, such as foreign currency risk and political risk. This is especially important if you receive income in a foreign currency or plan to repatriate funds to Australia.

How do I know my Financial Adviser is qualified to give advice?

The regulatory framework for receiving financial advice can vary significantly overseas compared to in Australia. Financial Advisers in Australia are regulated by strict Australian financial services laws, are required to possess adequate qualifications and have a fiduciary responsibility to provide advice that is in your best interests. While similar mandates exist in many other countries, they do not in all, and may not be as stringent, with limited options available for recourse in the event you receive poor advice.

Australian Financial Advisers are required to comply with strict professional and educational standards where they must:

1.     have an approved qualification (minimum of a relevant university degree);

2.     have passed the financial adviser exam administered by ASIC;

3.     participate in continuous professional development (CPD) yearly;

4.     comply with the Financial Planners and Advisers Code of Ethics.

You can check whether a Financial Adviser is registered in Australia by searching their details on the ASIC Financial Adviser Register. Along with verifying that your Financial Adviser is qualified, Australian Expats should strongly consider partnering with an adviser who has the knowledge and expertise to offer Expat-specific financial services.

The financial and tax situations of Australian Expats are vastly different from Australians residing and working in Australia. Therefore, Australian Expats need to seek advice from a Specialised Expat Financial Adviser who has the expertise and experience necessary to provide relevant and suitable guidance tailored to their unique Expat circumstances.

When should I engage an Expat Financial Adviser?

Working with a Financial Adviser can be advantageous at different points in your life. However, it is often wise to consult a Financial Adviser sooner when you experience a career change, need help managing your wealth, or are planning for retirement.

Australian Expats should consider consulting a specialised Financial Adviser as soon as practicable, particularly before leaving Australia or before returning home.

Partnering with an Expat Financial Adviser is valuable whenever you encounter complex financial decisions, significant life changes, or require expert guidance to effectively reach your financial objectives. Their expertise can provide reassurance and help you optimise your financial strategies throughout various life stages.

How can Runway Wealth Management help Australian Expats?

The financial planning services offered by Runway Wealth Management are provided by qualified Financial Advisers, registered with ASIC. Further, our Advisers have several years of experience providing financial advice to Australian Expats. Runway Wealth Management is committed to offering professional services that advance Australian Expats towards achieving their financial goals.

Should you wish to have a complimentary consultation with a Financial Adviser to determine where we can help you, feel free to enquire through our Contact Us page in the link below:

Contact Us

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.