Expatriate and Expat Financial Advice Beware of Wild West Advisers
Is it the 'Wild West' for your expat financial advice?
There are many countries, including some major retirement destinations in Europe where finance and financial advice for expatriates is more like being in the 'old wild west'.
You have little or no protection when taking financial advice or investment or pension decisions. This may also mean you have little comeback and possibly even language barriers if you wish to pursue a compensation claim for negligence for poor expatriate financial advice.
Beware Rogue Expat Financial Advisers: Talk to the Financial Adviser of the Year
Did you know that many expatriates have suffered at the hands of unauthorised, rogue financial advisers overseas?
For example, in Spain, "financial advice" is not regulated, but arranging a financial product is regulated. Quite simply, many so called 'financial advisers' give you advice but then arrange products offshore, in an attempt to by-pass Spanish regulators.
There are even British policyholder action groups fighting to win compensation for money lost by expats caused by poor, unprotected expatriate financial advice.
The Spanish authorities even have a booklet called 'Financieros Chiringuitos' meaning financial 'fly by nights' or financial cowboys - the 'Wild West' as we said.
Legal Passporting of Financial Advice into Europe:
Legitimate expat financial advisers such as ourselves, are allowed under European Union Insurance Mediation Directive, to passport financial advice services into Europe. This means that even if you are an a UK Expat and live in Spain, France, Italy, Cyprus or anywhere in Europe, we are able to offer you fully protected Financial Advice.