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Advisors - who are they? Here Offshore Boffin answers your questions about:
- Offshore Financial Advice
- Independent Financial Advisors (IFAs)
- Offshore Financial Advisors
- Certified Financial Advisors
Q1 - How do I get the best offshore financial advice?
The best offshore financial advice is probably given by Independent Financial Advisors. Independent financial advisors (or IFA's, as they are sometimes called) advise their clients on savings, investments and pensions. They may also provide Savings Plans for offshore investing to their clients.
When counselling a client, the best offshore financial advisors should complete the following steps:
- Step 1 - collect detailed information about a client's financial circumstances and requirements – be they for retirement planning, retirement income, expat investment, or another purpose.
- Step 2 - check all the offshore tax havens for the best offshore plans.
- Step 3 - provide impartial advice as to which plan(s) best meet their client's needs (in the form of a written report).
- Step 4 - arrange for a client to buy the chosen offshore plan(s) on the best terms available.
You may want to complete your own research to ensure you know the right questions to ask your advisor.
In which case join Offshore Boffin now and be an informed offshore investor.
When all these stages are completed, and with Offshore Boffin's help for less than 15 cents a day you can be confident you have received the best offshore financial advice.
Q2 - What is a Certified Financial Advisor?
Financial advisors may need a license to practice, issued by the Financial Services Regulator in their Country. Only these advisors may be called 'Certified Financial Advisors'.
It may be a condition that prospective certified financial advisors show their Regulator that they are:
- competent to advise
- impartial in their advice
- independent of Providers
- covered by professional indemnity insurance.
So it is important to check that your financial advisor is listed under:
- Certified Financial Advisors, licensed to advise in the Country where you live and
- Independent Financial Advisors - advising on a wide range of offshore plans from a full list of providers.
Now you should feel confident you are receiving the best offshore financial advice.
Q3 - How are offshore financial advisors paid?
Independent financial advisors (IFA's) earn their living from commissions they receive from plan providers. This is their income for the offshore financial advice they give.
The commission that advisors (IFAs) receive from offshore financial advice cases may range from hundreds to thousands of dollars.
Good offshore financial advisors should not be influenced by the amount of commission they receive.
Some clients prefer to pay fees to their financial advisors for advice to ensure impartiality. When this occurs offshore financial advisors refund commission received from a plan provider either in cash or as an increased allocation of contributions invested.
Q4 -How do I find a list of Independent Financial Advisors (IFAs)?
Search the web! Try searching using the search words independent financial advisors or certified financial advisors PLUS the name of the Country in which you live.
Personal recommendations are always helpful - ask your friends if they would recommend their offshore financial advisors. Always check that a recommended advisor is both certified and independent.
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