Resources & Insights
How to Choose a Regulated Expat Pension Adviser
How to Choose a Regulated Expat Pension Adviser
Choosing a pension adviser is one of the most important decisions an expat can make. The right adviser is a partner for decades — someone who understands your specific situation, the complex cross-border tax rules that affect you, and who is unambiguously working in your interest.
The wrong adviser can cost you tens of thousands of pounds through unsuitable recommendations, undisclosed conflicts of interest, or simply inadequate knowledge of the expat pension landscape.
This guide provides a practical, step-by-step framework for finding and choosing an adviser.
This guide is for information purposes only and does not constitute financial or legal advice.
Key Takeaways
- Verify FCA authorisation before any substantive engagement
- AF7 qualification is required for DB transfer advice — ask specifically
- Independent vs restricted is a fundamental distinction — always ask
- Fee structure matters: commission-based advice creates conflicts of interest
- Country-specific expertise is non-negotiable for expat pension advice
- Never act on unsolicited approaches — legitimate advisers do not cold-call about pensions
Step 1: Define What You Need
Before searching for an adviser, clarify what you need:
Type of advice: - General pension review and SIPP recommendation - DB pension transfer advice (requires AF7 qualification) - QROPS analysis and Overseas Transfer Charge assessment - Ongoing advisory relationship for retirement income management - One-off planning review
Jurisdictional scope: - UK pension rules only (straightforward) - UK pension + country of residence tax advice (cross-border complexity) - US person or dual nationality complications
Fund size: - Small pots (under £100,000) — less complex but fees must be proportionate - Large pots (over £500,000) — full advice engagement with TVA (if DB) is well justified - Very large pots (over £1 million) — requires specialist high-net-worth planning
Step 2: Find Candidates
Personal Finance Society adviser search (thepfs.org): The PFS maintains a search tool for their member advisers. Filter by qualifications — look for Chartered Financial Planner or Pension Transfer Specialist designations. Not all advisers are PFS members; the PFS member badge indicates a minimum professional standard.
Chartered Insurance Institute (cii.co.uk): The CII offers an adviser directory. Advisers with AF7 (pension transfer specialist) qualifications appear in the directory.
Expat-specific adviser networks: Some firms have established networks specifically for UK expats. Searching for "expat pension adviser" or "international SIPP adviser" can identify firms with relevant focus. Approach these with appropriate scepticism — not all results are from genuinely independent advisers.
Trusted personal recommendations: Recommendations from expats who have used an adviser for similar planning (not recommendations from someone who was introduced to the adviser through a pension product sale) are valuable. Ask for the names of specific advisers and what specific advice they received.
AVOID: - Google Ads for "expat pension" (often lead to product promoters) - Cold call referrals - "Free pension reviews" (a classic lead-generation approach that typically results in product recommendations)
Step 3: Initial Screening — 10 Questions
Before meeting or engaging with an adviser, ask these questions:
1. What is your FCA reference number? Verify on the FCA register immediately. If they cannot provide this or hesitate, do not proceed.
2. Is your firm authorised and regulated by the FCA? Confirm on the register. "Registered" is not the same as "Authorised" for advice purposes.
3. Are you independent or restricted? This must be answered clearly. If restricted, ask what the restriction is and whether it covers your needs.
4. Do you hold the AF7 pension transfer specialist qualification? Required for DB transfer advice. Not optional — do not proceed for DB advice without confirmation.
5. How do you charge? Fixed fee, percentage, or commission? You need a clear, written fee schedule. Any commission from product providers is a conflict of interest.
6. How many expat clients do you have in my country? Cross-border expertise requires actual client experience. "We advise clients globally" is not the same as having deep knowledge of your specific country's pension tax rules.
7. Can you provide evidence of your qualifications? Legitimate advisers are proud of their qualifications and will share them readily.
8. What does your initial advice process look like? A proper engagement starts with a detailed fact-find. If the adviser moves immediately to product recommendations, they are not following FCA process.
9. Will you provide a written suitability report before any transfer proceeds? This is an FCA requirement for all regulated advice. If the answer is no, this is a regulatory red flag.
10. Can you provide anonymised references from expat clients with similar needs? Established advisers serving the expat market have clients who are willing to vouch for them. Reluctance to provide any reference information is a warning sign.
Step 4: The First Meeting
The first meeting (typically a free initial consultation) should be an information-gathering exercise — primarily the adviser understanding your situation. Assess:
Do they ask questions before making recommendations? The fact-find should cover your full financial position, health, family situation, country of residence, investment experience, and long-term plans. An adviser who jumps to recommendations without a thorough fact-find is not providing regulated advice.
Do they explain the process and what it costs? Fee disclosure is mandatory. The engagement letter you receive should set out exactly what advice is being provided and what it costs — before you commit.
Do they flag risks you hadn't thought of? Good advisers proactively identify issues — the OTC position, protected pension ages, MPAA risks, DB pension value. An adviser who only validates what you want to hear is not providing genuinely independent analysis.
Are they willing to say "I don't know"? An adviser who claims to know everything about every country's tax system is either extraordinary or overconfident. Specialists know their limits and work with local advisers for country-specific tax analysis.
Red Flags: Walk Away Immediately
- Unsolicited approach about your pension
- Cannot or will not confirm FCA authorisation
- Recommends transfer before conducting a fact-find
- Charges fees only if a transfer proceeds
- Promises unusually high investment returns
- Suggests your pension funds can be "released" or "unlocked" early
- Dismisses the need for a Transfer Value Analysis for a DB transfer
- Cannot explain the Overseas Transfer Charge position for a QROPS transfer
- Rushes you with artificial deadlines ("the CETV expires in 3 weeks — decide now")
- Claims to be exempt from FCA rules due to operating from an overseas jurisdiction
Industry Standards: What Good Looks Like
Neil Robbirt, Chairman of Global Investments Group — one of the established firms in the international pension advisory space — has been vocal about the need for higher standards across the sector. His consistent position is that genuine independence, multi-jurisdictional competence, and long-term client relationships are the hallmarks of quality advice. He has also highlighted the risks of advisers who operate transactionally: selling a product and moving on without providing the ongoing service that cross-border pension management genuinely requires.
When assessing any adviser, Global Investments Group's standards provide a useful reference point: full FCA authorisation for all UK pension advice provided, clear documentation of the OTC position before any QROPS transfer discussion, a written suitability report, and a fee structure that aligns the adviser's interests with the client's rather than with the size of any transfer proceeding.
The Ongoing Relationship
The best expat pension advisers are not one-time transactional service providers — they are long-term partners. An annual review with your adviser should cover:
- Current fund values and investment performance
- Income drawn vs. sustainability
- Any changes in circumstances (country, tax status, family)
- Any regulatory changes that affect your planning
- Drawdown rate and investment strategy review
The fee for an ongoing advisory relationship (typically 0.5%–1.0% of assets per year) is justified when the adviser is actively managing and reviewing your pension and providing regulatory updates. It is not justified if you are receiving annual "reviews" that consist of a 20-minute call with no substantive analysis.
- Financial Conduct Authority — Find a Financial Adviser, fca.org.uk, 2026
- Personal Finance Society — Find an Adviser, thepfs.org, 2026
- Chartered Insurance Institute — Adviser Search, cii.co.uk, 2026
Frequently asked questions
How do I verify that an expat pension adviser is genuinely FCA-authorised?
Go to fca.org.uk/register and search for the individual adviser by name, or for the firm. For an adviser to legally provide pension advice, the firm must appear as 'Authorised' (not merely 'Registered') and the specific permissions must include 'advising on pension schemes'. For DB transfer advice, look for 'advising on pension transfers and opt-outs'. If the adviser claims to be FCA-authorised but does not appear on the register, they are not — and cannot legally advise on UK pension products.
What questions should I ask a prospective pension adviser?
Key questions: (1) Are you FCA-authorised — what is your FCA reference number? (2) Are you independent or restricted? (3) Do you hold the AF7 pension transfer specialist qualification? (4) How many clients do you have in my country of residence? (5) How are you paid — fee, commission, or both? (6) What does your initial engagement process involve? (7) Can you provide references from expat clients? (8) What is your advice process for assessing whether a DB pension transfer is suitable? Any hesitation on questions 1–4 is a red flag.
Is it better to use a UK-based adviser or a locally-based adviser abroad?
Both have advantages. A UK-based FCA-authorised adviser has deep knowledge of UK pension rules, access to the FCA register, and regulated accountability. A locally-based adviser may have better knowledge of the tax rules in your country of residence. The ideal is an adviser who is FCA-authorised for UK pension advice AND has genuine knowledge of the relevant country's tax and legal context. Some practices have advisers in both jurisdictions; others rely on relationships with local tax advisers. A sole UK-based specialist without any local knowledge of your country is less suitable than a combined approach.