Choosing a financial adviser is one of the most important decisions you will make as an expat. The right adviser can save you significant amounts in tax, help your investments grow efficiently, and give you genuine peace of mind. The wrong one can create problems that take years to fix. These ten questions will help you separate the genuine experts from those who are less qualified.
1. Who regulates you?
An adviser should be regulated by a recognised financial authority. In the UK, this is the Financial Conduct Authority (FCA). In the UAE (Dubai), it is the DFSA. In Australia, it is ASIC. Ask for their regulatory reference number and verify it independently on the regulator's website.
If an adviser cannot give you a verifiable regulatory reference, or if you cannot find them on the register, do not proceed. See our guide on how to check whether a financial adviser is regulated.
2. Where are you licensed to advise?
This is different from being regulated in your home country. An adviser regulated by the FCA can advise UK residents. To advise someone living in Spain, the UAE or Singapore, they typically need additional regulatory authorisation in that jurisdiction. Many domestic advisers lack this.
Cross-border advice requires cross-border permissions. Ask specifically: "Are you authorised to advise clients living in [your destination country]?"
3. Have you worked with clients in my situation?
Regulatory authorisation is the minimum standard. Experience with clients in your specific situation — same nationality, same destination country, similar financial profile — is worth more than general qualifications. Ask how many clients they have who match your profile and what common issues they see.
4. How are you paid?
Fee-only advisers charge you directly. Commission-based advisers earn money from the products they recommend. Both models can work, but you need to understand which applies and how it might influence the advice you receive. An adviser who earns commission has a financial incentive to recommend certain products. This does not mean the advice is bad, but you need to know about it.
5. What is my total annual cost?
This is the most important fee question. The adviser's fee is only one layer. You also pay platform fees, custody fees, investment management fees, fund charges and transaction costs. Ask for the total — not just the adviser fee. A 1% adviser fee can become a 3% total cost once all layers are included.
See our guide to international financial adviser fees for a detailed breakdown of each layer.
6. Who holds my money?
Your investments should be held by an independent, regulated custodian — not by the adviser themselves. This separation protects you if the adviser encounters financial difficulties. Ask who holds your assets, where they are held, and what investor protection scheme applies.
7. Are there exit penalties?
Some investment products charge penalties if you withdraw your money within a certain period. These can be significant — sometimes 5% or more of your investment. Ask about exit penalties before you invest, not after. An adviser who is confident in their service should not need to lock you in with penalties.
8. What investment products do you use?
Ask which platforms, fund houses and investment structures the adviser uses. Do they use a wide range of providers, or do they tend to recommend the same one or two? A narrow range may indicate a limited or biased approach. Ask whether they use clean share classes (lower-cost fund units without embedded commission).
9. Can I see all underlying charges?
Transparency about costs is a strong indicator of an adviser's integrity. Ask for a full breakdown of every charge — adviser fee, platform fee, custody fee, DFM fee, fund OCF, transaction costs — in writing. If an adviser is reluctant to provide this, it is a warning sign.
10. What happens if I move country again?
If there is any chance you will relocate further in the future, you need an adviser whose network and permissions can follow you. An adviser who can only advise in one country may not be able to continue serving you if you move. Ask how they handle clients who move between jurisdictions.
How to use these questions
You do not need to ask all ten in the first conversation. But before you commit to working with an adviser, you should have clear answers to all of them. A good adviser will welcome these questions — they show you are engaged and informed.
If you would like help finding an adviser who can answer these questions well, Link Independent can help. We connect expats with regulated advisers who have the right experience for their specific circumstances. You can also use the Expat Planner to get a personalised financial readiness report first.