How to Choose a Financial Adviser as an Expat in Singapore: Red Flags and Must-Haves

By John Whittaker

Managing your finances as an expat in Singapore can be complex. From international tax considerations to retirement planning and currency diversification, your financial strategy often requires more than a basic, one-size-fits-all approach. Engaging a qualified financial adviser can be a smart move, but only if you choose the right one.

Below are some red flags to watch for, along with the key qualities to look for when choosing a trusted adviser.

Red Flags to Be Aware Of

1. Lack of recognised qualifications

A credible financial adviser should hold certifications such as CFP® (Certified Financial Planner), CFA® (Chartered Financial Analyst), or an equivalent. If an adviser is unable or unwilling to provide proof of relevant qualifications, this is a cause for concern. Professional credentials demonstrate both expertise and a commitment to ethical standards.

2. Not licensed in Singapore

All financial advisers operating in Singapore should be regulated by the Monetary Authority of Singapore (MAS). You can confirm this by checking the MAS Financial Institutions Directory. Advisers who are not properly licensed may pose a significant risk. Engaging with an unlicensed adviser could leave you without legal recourse if problems arise.

3. Generic recommendations

If an adviser offers the same products or plans to every client, it may indicate a lack of personalised service. Good advice should be tailored to your specific goals, financial situation, and cross-border considerations. Generic advice often misses important details unique to your circumstances.

4. Pressure to act quickly

Be cautious of advisers who encourage immediate decisions or use urgency as a sales tactic. Sound financial planning takes time and should be based on thoughtful discussion, not pressure. Trustworthy professionals respect your pace, allowing you to evaluate options and ask questions before deciding.

Qualities to Look for in a Financial Advisor

1. Experience working with expats

Choose an adviser who understands the unique challenges expats face, such as tax obligations across countries, foreign pension planning, and currency exposure. They should have hands-on experience navigating international regulations and crafting strategies suited to internationally mobile clients. Relevant expertise ensures more accurate and practical guidance.

2. Clear and transparent fees

A reputable adviser will explain exactly how they are paid, whether through fees, commissions, or a combination. You should know what you’re paying for and how it aligns with the value you receive. Clear communication around costs helps build trust and avoids surprises.

3. A solid reputation within the expat community

Recommendations from other expats, reviews on trusted platforms, or referrals from professional networks can help you find someone reliable and experienced. Strong community recognition often reflects consistent service quality and a genuine understanding of expat priorities.

4. Holistic and personalised advice

The right adviser will look at your full financial picture, including investments, tax planning, insurance, estate planning, and retirement goals. They should integrate all aspects of your finances into a cohesive strategy that supports your long-term plans. Their guidance should reflect your individual circumstances and evolving needs.

Final thoughts

Choosing the right financial adviser in Singapore is an important step towards long-term financial security. Take the time to ask questions, check credentials, and make sure you feel confident in their approach and expertise.

If you’re ready to take the next step, you’re welcome to schedule a consultation with me to discuss how we can tailor a plan to strengthen your financial security. Whether you’re staying in Singapore long term or planning your next move, it’s never too early to start planning with clarity and confidence.

John Whittaker is an Authorised Representative of Global Financial Consultants Pte Ltd – No: WJE300421316 | MAS License No: FA100035-3

To learn more about how he might be able to help you, please contact John:

Phone Number: +65 8331 7103

Email: john.whittaker@admin.gfcadvice.com

LinkedIn: linkedin.com/in/john-whittaker-8bbab6138

General Information Only: The information on this site is of a general nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision.

*Please note that John Whittaker is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you.