There’s no doubt that investing in your future is a smart decision. Whether you’re insuring yourself against financial uncertainty or building a nest-egg for retirement, a well-thought-out investment plan should be high on your list of priorities.
But the world of investments can be a minefield of bad advice and questionable choices. It’s hard knowing what to do – especially when you’re an expat far away from home – so for some sensible and sound tips, we went straight to the expert.
We got in touch with Barry Honeyman of Beacon Global Group – Europe. Barry has over 20 years financial services experience. After spending most of his career with some of the world’s largest financial institutions – including Prudential and Old Mutual International – he now works as a consultant.
Barry knows investments inside out, and he told us his top five tips for would-be investors.
Look for qualifications
Hiring a financial advisor is the first step to entering the world of investments. Just make sure you ask the right questions of your advisor to feel comfortable that they have the technical know-how and the qualifications to help you.
“My professional clients are always considerate of who they deal with,” Barry said. “In terms of a financial advisor, that means ensuring that they’re properly qualified and properly regulated in their jurisdiction.”
Having lived and worked internationally, Barry told us that he was amazed to find a lot of unqualified advisors.
“They had very low-level qualifications that wouldn’t allow you to give advice in the UK, but they were getting away with it.