Most of the people we help our based in the UK, and our residents in the country. But what happens when you are an expat living abroad who has been given bad financial advice, leading to the potential mis-selling of a pension?
Whilst in the UK there is heavy legislation and rules around how financial products can be sold, abroad it’s not always the case.
If you are an expat living abroad and are debating whether or not to take out a pension on advice of an advisor based in your country of residence then we really recommend you are extra careful before committing.
Always Ask These Questions
Our team have put together some questions which we recommend you ask your pensions adviser abroad whilst living as an expat. Those questions are as follows.
- Is the financial adviser regulated, and if so, by whom?
- What financial advice does this regulation cover and allow for?
- What investment protection does the regulation provide?
- What are your qualifications and credentials, and can I check them against an official body?
- What level of professional indemnity insurance do you have, and does that cover this advice?
- Are you paid on commission, and if so how much?
By just asking a few simple questions like this you should be in a far better position to make an informed decision on whether or not you should invest your pension with this particular adviser.
At Expert Pension Claims we deal with hundreds of people each year who have been persuaded to make bad decisions in foreign investments. If you have already been affected then please do contact us, even if you are residing outside of the UK we might be able to help you.