WHETHER IT IS financial planning or offshore banking, ever more opportunities and options can make identifying products that offer the best returns or wealth protection a daunting task.
Although many seeking financial planning advice tend to be high earners, it is not necessary to be a millionaire to take advantage of personal financial planning assistance.
With the help of a financial planner, individuals may be able to achieve previously unconsidered financial goals, protect the wealth they already have and ensure future financial security for themselves and their family.
'Wherever you are in the world, an international lifestyle brings with it unique financial needs and opportunities,' said Tina Molloy, HSBC Bank International's senior independent wealth manager. 'Each individual's situation is different, but they can usually benefit from well-structured financial planning strategies.'
Questions expatriates need to ask themselves include: When and where would I like to retire? Will I have enough money to maintain a desirable lifestyle when I retire? Do I enjoy a higher disposable income while working abroad? Am I maximising savings, investment and tax opportunities?
Investors should not confuse financial planning with tax planning, which is a separate issue that requires the expertise of a tax specialist. Ms Molloy said HSBC could recommend tax specialists.
HSBC International offers a no-obligation financial review or financial health check to help clients - the majority of whom are British expatriates living in Hong Kong - decide on their financial planning requirements. The review can help avoid potential pitfalls and identify objectives, risk appetite and future lifestyle expectations.
