Why UK-Based IFAs Won’t Work with Expats (And What You Can Do)

If you are a British expat, you might have hit a frustrating wall: finding a financial adviser who will work with you.

Many UK-based Independent Financial Advisers (IFAs) simply won’t take you on as a client once you’re no longer a UK resident.

But why is this the case?

And more importantly, what can you do about it?

Let’s break it down.

Why UK-Based IFAs Don’t Work with Expats

1. Regulatory Restrictions

One of the main reasons is regulation.

Financial advisers in the UK are regulated by the Financial Conduct Authority (FCA).

These regulations primarily cover UK residents and UK-based financial products.

When you move abroad, your residency status changes, and suddenly, the FCA’s rules become murkier for advisers.

To work with expats, advisers often need additional qualifications, licenses, or partnerships with overseas regulators.

Many simply choose not to take on the extra complexity.

2. Compliance Headaches

Providing financial advice to non-UK residents can involve complex compliance work.

For example, advisers need to navigate:

Cross-border tax and estate laws
Reporting requirements in multiple jurisdictions
Multiple currencies

For smaller IFA firms, this is simply too much hassle.

3. Product Restrictions

A lot of UK financial products, like ISAs and certain pension plans, are designed specifically for UK residents.

When you move abroad, you may no longer qualify to contribute to these products.

Advisers who primarily recommend UK-based solutions might not feel equipped to help you.

4. Liability Concerns

Advisers have a duty of care to their clients.

Offering advice to expats can carry higher risks because of the complexity involved.

If they get something wrong, the potential liability is significant.

Many IFAs would rather avoid this risk altogether.

The Impact on Expats

For expats, this creates a real problem.

Without access to professional advice, you might find yourself:

Paying unnecessary taxes due to poor financial planning
Missing opportunities to grow your wealth
Struggling to make sense of complex cross-border pension rules

Many expats end up relying on generic online advice, which can lead to costly mistakes.

Worse still, they fall prey to unregulated and unqualified overseas financial advisers who sell expensive and often high-risk products.

What You Can Do

The good news is that solutions exist.

Here’s how you can get the financial advice you need as an expat.

1. Work with an Expat Specialist Adviser

The simplest solution is to work with a financial adviser who specialises in helping expats.

These advisers understand your unique challenges and have the expertise to navigate them.

An expat financial adviser can help with:

Cross-border tax planning
International pension planning
Investment strategies tailored to your residency status
Estate and inheritance planning

2. Choose the Right Investment Products

While you may no longer be able to contribute to an ISA, there are still plenty of investment options available to expats. These might include:

Low-cost investment platforms designed for expats
Offshore investment bonds
Tax-efficient investment wrappers available in your country of residence

An expat financial adviser can recommend products that align with your financial goals and tax situation.

3. Ensure Proper Tax Planning

One of the biggest challenges for expats is managing cross-border tax liabilities.

A specialist adviser can help you:

Avoid double taxation
Maximise tax efficiency
Plan for future liabilities, such as inheritance tax

4. Check Adviser Credentials

When choosing an adviser, make sure they have the right credentials.

Look for qualifications such as:

Chartered or Certified Financial Planner status in the UK.
Membership in professional bodies like the Personal Finance Society (PFS).

How to Find the Right Adviser

Finding the right adviser as an expat can take time, but it’s worth the effort.

Here are some tips:

Search online: Use search terms like “Expat financial adviser” or “Expat pension advice.”
Ask for referrals: Other expats in your network might have recommendations.
Check reviews: Look for advisers with strong client testimonials and a proven track record.

Case Study: Keith’s Journey to Financial Clarity

Keith, 47, found himself in a challenging position after inheriting a property in the UK.

Upon selling the property, he was left with £350,000 sitting in his current account, unsure of the best way to invest it.

Living in Poland, Keith was frustrated by three major roadblocks:

The UK IFAs he contacted couldn’t work with him because he was no longer a UK resident.
Traditional UK products like ISAs weren’t available to him.
He didn’t feel confident enough in his Polish skills to work with a local financial adviser.

Keith felt stuck.

He knew that leaving the money idle in his current account wasn’t the answer, but he couldn’t find the right advice to help him move forward.

Eventually, Keith found a UK-qualified financial adviser who specialises in working with expats.

Together, they developed a financial plan tailored to his needs.

The adviser helped Keith:

Invest the proceeds from the property sale in a sensible, low-cost investment strategy similar to what he would find in the UK.
Optimise his investments for his residency status, ensuring tax efficiency.
Create a long-term plan to grow his wealth and provide financial security for his future.

Thanks to the adviser’s expertise, Keith was able to turn a frustrating situation into a positive outcome, giving him confidence and clarity about his financial future.

Why I Specialize in Helping Expats

As a Chartered Financial Planner and an expat myself, I’ve made it my mission to help British expats navigate the challenges of cross-border financial planning.

Unlike UK-based advisers who might shy away from expat clients, I love the challenge of cross-border financial planning and have built my practice specifically to meet your needs.

Whether you need help with pension planning, investment strategies, or organising your estate, I’m here to provide tailored advice that fits your unique situation.

Schedule a Call

Take Control of Your Finances Today

Don’t let the lack of support from UK-based advisers hold you back.

With the right help, you can achieve your financial goals and enjoy a secure, stress-free retirement abroad.

If you’re ready to take the next step, get in touch today.

Let’s discuss how I can help you make the most of your expat status and build a brighter financial future.