How do I find a financial adviser in Poland?

Finding a Financial Adviser in Poland

Unfortunately, we live in an uncertain world that often appears to be full of crooks, scammers and people posing as experts. As a result, it can be difficult to tell the good guys from the bad – never mind finding a genuine financial adviser that is perfectly fitted for your needs.

Knowing what questions to ask a financial adviser will help you hire the right expert…

…. and avoid hiring the next Bernie Madoff.

Below, I have compiled a list of questions that you should ask ANY financial adviser before entrusting them with a penny of your funds.

1. What qualifications do you hold?

Proven high level qualifications will show that a financial adviser is competent and takes their profession seriously.

In the UK, the highest standard is Chartered Financial Planner  and Chartered Investment Adviser. As a minimum you would expect a QCF level 4 qualified adviser to provide you with financial advice.

The main UK financial adviser accreditation bodies are:

• The Chartered Institute for Securities and Investment (CISI)
• The Chartered Insurance Institute (CII)
• The London Institute of Banking and Finance (LIBF) 

Each allows you to search their website for members and their qualifications.

I hold the following designations:

• Chartered Financial Planner (QCF Level 6) through the CII.
• European Financial Planner through the European Financial Planning Association (EFPA).

2. How long have you been a financial adviser?

While the number of years that a financial adviser has been in business is no guarantee of competence, there is value in knowing that they have experience of advising clients through the full range of economic conditions.

26 years

3. How are you remunerated?

Some advisers charge hourly, others charge a fixed fee or a percentage of the value of the assets that you invest with them.

Good financial advice is never free. Be wary of  those who say that you do not need to pay them a fee or that they earn a commission from the product provider.

This means that they are being incentivised to steer you towards a particular product, even though that product may not be the best one for you.

I work on a “fee-only” basis. This means that I don’t sell products for a commission and don’t receive any form of compensation from anyone other than you.

4. Who do you specialize in working with?

You wouldn’t engage a heart specialist if you needed knee surgery, would you?

Also, you should be wary of someone who professes to be a jack of all trades; they are likely to be a master of none, having spread themselves too thinly.

It’s critical that your financial adviser has the right expertise to help with your specific situation.

I specialise in advising British expats in Poland on cross-border investment and retirement planning.

5. What is your investment philosophy?

Investments play an important role in your overall financial health and you want to work with an adviser who uses methods that you are comfortable with.

An adviser should be able to clearly articulate their investment philosophy, strategy and principles using an evidence based methodology. If this isn’t the case, they might be making investment decisions based on a hunch rather than academic research.

• Don’t try to time the stock market
• Invest for the long-term
• Diversification is key
• Keep costs low
• Keep taxes low
• Maintain discipline
• Don’t invest based on media headlines

6. What support do you have?

The best financial advisers work as part of a team. One person alone cannot be expected to research and check more than 70,000 funds as well as keep up with multi-jurisdictional tax laws and  investment structures required to help you protect your wealth.

I give independent financial advice within the framework of an international network of financial advisers. 

I benefit from the research, collective expertise and administration assistance of a team or professionals, who will all assist me in helping you to meet your financial objectives.

7. How would ongoing co-operation work? How much contact would we have?

Usually a financial adviser will communicate in a way that best suits the client, but it is always worth asking, just to be sure.

Being aware of how often meetings will take place means that you can prepare any questions that you may have, and also ensures that you are kept up-to-date on the state of your finances.

I hold regular scheduled client reviews twice a year; in the spring and in the autumn.

Should anything pertinent arise in between these reviews, then I will proactively contact clients.

In addition, should anything arise on their side, they are always able to contact me.

8. What does your process look like?

Financial planning should not be haphazard. A tried and tested process is more likely to lead to a successful outcome.

You can find my process here (link to my process)

9. Where are you based?

Every country has its unique opportunities and pitfalls. 

It is hard for a financial adviser to be fully aware of these unless they are actually “on the ground”.

I have been based in Warsaw since November 2000.

Read our article: Moving to Poland Tips and Tricks: Essential Financial Planning for Expats.