Office Locations

The Importance of having a Local Financial Adviser

By Sue Regan - Topics: Financial Planning, Financial Review, France
This article is published on: 15th June 2018

Moving to another country is one of the biggest decisions that anyone is likely to make, especially to a country where the language is not your native tongue. Most of the expats I meet say that the hardest thing about moving to France is getting to grips with the language, and I include myself in this.

From my own experience I know that lack of fluency is often a cause of frustration, confusion and anxiety, especially when dealing with bureaucracy, medical matters and finance. Fortunately, there are people and businesses out there who can help.

The Spectrum IFA Group are independent financial advisers and our area of expertise covers the provision of regulated advice on the tax-efficient investment of financial assets, pensions and inheritance planning. We are a French company, regulated in France, which means our business activities will not be affected by BREXIT.

As well as being regulated in the county in which he or she is advising a client, a good financial adviser should also have the relevant knowledge of the tax framework of that country and the tax treatment of suitable products in order to give the most appropriate, tax-efficient advice. You probably wouldn’t have sought the advice of a French regulated IFA to manage your UK investments when you lived in the UK so it doesn’t make sense to expect a UK regulated IFA to advise you when living in a different tax jurisdiction to the one in which they are qualified and regulated.

The Process
In this age of online banking, tele-marketing and robo-advice, we believe that the old- fashioned method of a face to face meeting, to discuss your individual circumstances and financial objectives, plays a vital part in establishing the trust between the client and the adviser, and that should be the number one priority.

An initial meeting with a new client can take up to three hours – there’s a lot to discuss, such as:

  • Your personal and family situation
  • Your income – your requirements now and in the future
  • Your pension provision
  • Your inheritance wishes – do you have wills? Are they set up correctly for French residency? Who do you want to inherit?
  • Your property assets
  • Your financial assets – bank deposits, investments, Trust assets, business interests – where are they situated? Are they tax-efficient for French residency?
  • Insurance policies
  • Your state of health and provision for healthcare
  • Your priorities now and in the future
  • Your financial objectives and attitude to risk

By the time we have gone through all the above, and usually swapped a few stories about our lives, both the client and I have a very good idea as to whether we feel comfortable with each other and that we can work well together.
If, after this meeting, I believe that I can help you achieve your objectives, I will go away and put together my thoughts and recommendations in a report to you. We do not charge any fees for meetings, research or preparing reports and making recommendations. We will meet again to discuss, in detail, any recommendations made, and the product charges will be fully explained. If you decide to go ahead with a recommendation and become a client of Spectrum, we will be remunerated by the product provider.
This is just the beginning of the relationship. Things generally change over time, such as pensions and tax legislation, investment performance, physical well-being, family situations, income and capital needs. An important part of my job is to ensure that we meet periodically, at least once a year, to review your circumstances and make sure that your finances are on track to meet your current needs and longer term goals.
If you would like to have a confidential discussion about your financial situation, please contact Sue Regan either by e-mail at sue.regan@spectrum-ifa.com or by telephone on 04 67 24 90 95. The Spectrum IFA Group advisers do not charge any fees directly to clients for their time or for advice given, as can be seen from our Client Charter here

Article by Sue Regan

Sue ReganIf you are based in the Midi Pyrenees & Languedoc Roussillon area you can contact Sue at: Sue.Regan@spectrum-ifa.com for more information. If you are based in another area within Europe, please complete the form below and we will put a local adviser in touch with you.

Contact Sue Regan direct about: "The Importance of having a Local Financial Adviser"

The Spectrum IFA Group is committed to building long term client relationships. This form collects your name and contact details so we can contact you about this specific enquiry. For further information, please see our Privacy Policy.