Expat Financial Advice & Services
Moving abroad and starting a new life in a different country is one of the most exciting and expansive decisions you can make. Whether you're relocating for a new career opportunity, moving alone or with your family, or embracing a well-earned retirement, your journey ahead is full of possibility.
With so many exciting changes and fresh opportunities, it’s easy to overlook some of the more challenging aspects of expat life. Adjusting to a new culture, navigating unfamiliar systems, and settling into a different way of living can cause stress and uncertainty, and one of the biggest challenges that expats face is the financial aspects of the move.
In this guide, we explore why financial advice is so important for expats and highlight some of the key services we offer at The Wealth Genesis, to ensure you feel secure, informed, and confident in your new chapter abroad.
Do All Expats Need Financial Advice?
At The Wealth Genesis, we believe that expert financial advice should not be a luxury, but an essential part of every expat’s financial life. The unique challenges and potential pitfalls that come with living abroad can make managing your finances far more complex than it might be at home.
From navigating cross-border taxes and managing your pension, to understanding how currency risk might affect your income, fulfilling new legal obligations, and addressing estate planning or investment concerns, these are just some of the financial hurdles expats may face.
Relocating is stressful enough without the added pressure of falling on the wrong side of tax laws or missing key financial steps and working with a specialised financial adviser can make all the difference.
A trusted adviser can help you navigate the intricacies of expat finance, take the stress out of your move, and give you the peace of mind that you're both legally compliant and financially secure.
With their support, you can ensure your money is working efficiently for you, and that you have a solid plan in place to protect and grow your wealth, setting you up for a successful life abroad. Expat financial advisers truly understand the needs of international clients and can offer guidance that is not only expert but invaluable. That said, it’s crucial to work with the right adviser, someone you trust and can build a strong, long-term relationship with.
The Role Of An Expat Financial Adviser
By working with the right financial adviser, you should begin to see real benefits and a positive impact on your financial life fairly quickly. A good adviser will take the time to fully understand your current financial situation, as well as your mid-term and long-term objectives. They’ll also help determine your risk profile,and work closely with you to formulate a clear, personalised plan to help you reach your financial goals within a time frame that feels right for you.
Your adviser should keep in touch with honest, straightforward updates and clear, regular communication. This should include financial reviews, ongoing investment support, and updates on portfolio performance, along with expert guidance on the many financial considerations that expats face.
Expat Tax Planning
Understanding your tax obligations as an expat is undoubtedly one of the most important things to get right. Local tax laws can be complex and are often subject to change, so it’s essential to be clear on exactly what taxes you need to pay and when. Tax planning as an expat can be particularly challenging, as rules around income tax, capital gains tax, and inheritance tax can differ significantly between the UK and your new country of residence.
The tax you owe will also depend on your residency status, so it’s vital to determine where you are considered a tax resident and to notify HMRC if your residency has changed. The last thing you want is to face unexpected tax penalties. Working with a financial adviser who specialises in cross-border taxation can help you stay compliant and minimise stress. They can also ensure you’re making the most of any tax-efficient schemes, foreign tax credits or tax benefits, or international tax treaties that may help reduce your overall tax bill.
Navigating Expat Financial Restrictions
As a UK expat living abroad, it’s important to be aware of some of the financial restrictions you may face. For instance, once you are no longer a UK tax resident, you won’t be able to open or contribute to an existing ISA.
In addition, many British financial institutions no longer offer services to UK expats or non-residents, which can limit your access to investment platforms, certain bank accounts, and even your pension scheme. These restrictions can be frustrating, but working with a financial adviser can make a big difference. They can keep you informed about changes in laws and regulations, suggest alternative options, and help you find effective ways to manage your money while living abroad.
Expat Investment Advice
When you move abroad, the way you invest, and the opportunities available to you, may change significantly. That’s why it’s essential to get clear on your investment goals and work with a qualified adviser who understands the unique challenges of expat life. An expert adviser can help you define your financial objectives, understand your risk tolerance, and build a structured investment portfolio aligned with your long-term plans and personal circumstances.
A key part of this process is striking the right balance between risk and reward, while also diversifying your assets across different classes and currencies, which is particularly important for expat investors. With professional guidance, you can structure your portfolio to hedge against risks such as currency fluctuations, global market volatility, and political instability.
If you plan to generate investment income to support your lifestyle abroad, the right adviser can also help you access new and locally compliant opportunities, including real estate, investment bonds, or offshore platforms that offer the potential for tax-free growth.
Ultimately, your adviser can guide you in building a diversified, international portfolio that not only suits your goals but is also structured to be as tax-efficient as possible, helping you protect your income and grow your wealth, all while staying fully compliant with local tax rules.
Retirement Planning For Expats
Whether you're planning to retire abroad, or if retirement is still a few years away, it’s important to start thinking about your pension and retirement planning as early as possible.
As an expat, laying the groundwork now can help ensure a financially secure and comfortable retirement later. One key consideration is how your UK pension may be affected once you’ve moved abroad. While leaving your pension in the UK may seem like the simplest option, it’s not always the most sensible. Many UK pension providers place restrictions on non-residents, which can mean limited access to manage your funds and, in some cases, difficulties receiving payments into international bank accounts. These limitations can become very frustrating and may hold back the growth potential of your pension.
A Specialised adviser can help you explore more suitable solutions, such as the International SIPP (Self-Invested Personal Pension), a UK-regulated, tax-efficient pension designed for expats. It offers flexibility, access to a wide range of funds, stocks, and ETFs, and allows you to build a diversified investment portfolio with multi-currency options, helping your pension work harder for your future abroad.
For our dedicated guide to the International SIPP, click here.
Managing Currency Risk
As an expat, it’s quite likely that at some point you’ll be earning, investing, and spending in multiple currencies, which means you’ll be exposed to currency risk. This is the risk of potential losses due to unfavourable fluctuations in exchange rates, and even small changes in currency values over time can quietly erode your overall wealth.
Fortunately, a financial adviser can help you put strategies in place to guard against this risk. These may include hedging, carefully timed currency conversions based on market conditions, and making use of multi-currency accounts that allow you to hold and manage different currencies more efficiently. They can also advise on diversifying your assets across multiple currencies, which can offer an added layer of protection and flexibility for your international lifestyle.
Estate Planning
Estate planning is another complex issue that many UK expats face, and it's one that requires careful consideration. Inheritance tax laws can differ significantly between the UK and your new country of residence, making it crucial to understand how each system applies to your personal situation. Even if you're living abroad, you may still be considered ‘UK domiciled’, which means you could remain subject to UK inheritance tax. The right adviser can help you assess whether this status still applies and, if appropriate, guide you through the process of potentially losing your UK domicile status.
Beyond the UK tax implications, it’s also important to understand the inheritance or succession laws of your new home country. Some countries enforce what’s known as ‘forced heirship’ laws, which allocate fixed shares of your estate to spouses or children upon your death, regardless of what your will may stipulate.
By working with an adviser who specialises in cross-border estate planning, you can ensure that your estate is handled according to your wishes and that the tax burden on your loved ones is kept to a minimum.
Finding The Right Expat Adviser
Seeking financial advice can be one of the most valuable steps you take towards securing your financial future and making a success of your life abroad. However, it’s absolutely essential to ensure you’re working with the right professional or firm and find someone you can genuinely trust.
Before engaging with an adviser, always check that they are properly regulated in the country where you now live. Not all advisers are authorised to give international advice; some may be regulated in the UK, for example, but not in your new country of residence. Ideally, you want to work with someone who is regulated locally and experienced in cross-border advice.
It’s important to understand that regulatory standards vary. While countries like the UK and the US enforce strict qualification and regulatory requirements for financial advisers, some overseas jurisdictions are not as rigorous. Unfortunately, some international firms may employ advisers with limited experience and inadequate qualifications, which can put your financial future at risk. That’s why it’s wise to check an adviser’s credentials, experience and their understanding of the unique needs of expats.
Whether it’s investments, pensions, estate planning, or tax optimisation, your adviser should have strong technical knowledge and up-to-date insight into international regulations to ensure your financial plan remains fully compliant.
One of the most important qualities in a good adviser is trust. You should never feel you’re being sold a product or service that doesn’t truly serve your interests. Be wary of hidden fees, commission-based products, exit penalties, or early withdrawal charges.
At The Wealth Genesis, we pride ourselves on our transparency and integrity. We charge a single, flat fee of £3,000 to all our clients, along with a clear and competitive ongoing management fee of 0.85%. This gives us every incentive to make sure your portfolio is well-managed and performing at its best. We operate on a strict zero-commission basis with no hidden charges, no exit fees, and no ‘lock-in’ contracts. As we are fully independent, we are not tied to any particular institutions of financial products, and you can be sure you are always receiving honest, independent, and tailored advice.
We believe in a holistic approach to wealth management, helping expats navigate every aspect of financial life abroad. From investment strategy to estate planning, from pension transfers to tax efficiency, we work closely with you to create a financial plan that aligns with your life and your aspirations. More than anything, we focus on building long-term, meaningful relationships with our clients
