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Does My Wealth Manager Need to be Local? Thumbnail

Does My Wealth Manager Need to be Local?

Choosing a financial advisor is based on your needs, goals, and comfort levels, aligned with the advisor’s expertise. So, the answer to the short question is no. Remember this is a joint relationship that involves your input to the advisor. An experienced financial advisor will help create investment strategies to generate sufficient wealth and retirement income. The long answer is, choosing a financial advisor or wealth manager that is based outside of your home country can add benefits to your overall financial situation that a local advisor never could.

Thanks to the rapidly growing technological developments, clients can work with an offshore wealth manager just as easily as with a local one. Interactions include face-to-face meetings via video conferencing, regular follow-up calls and email communications. Having said that, even before technology made everything so simple, WHVP has been working with American clients since the early nineties over phone, fax and mail. Even though we are grateful for how easy everything became through technology, it was already possible before.

Your first physical meeting or virtual communication is typically designed to discuss your current situation and your goals. The purpose is to get to know each other and see whether or not we would make a good fit. We talk about what our company can offer and how it could be beneficial to you. There will also be plenty of time to answer any questions you may have. Once the getting-to-know-you sessions are completed, and it is decided to work together, on-going communications and annual meetings are essential, especially as an offshore wealth manager. 

For many clients, the lack of understanding of offshore baking and wealth management is daunting. An experienced wealth manager is going to help organize your thoughts and answer all your questions for you to be equipped to make the best decision for your personal situation. A good starting point on getting informed is one of our previous blog posts where we bust some common myths about offshore banking: 5 Myths About Offshore Wealth Management.

Planning Today for Tomorrow

Whether you choose to work with a local or offshore advisor – an assessment of your personal and financial needs are critical to developing an investment plan. If you prefer traditional face to face visits, working with a local advisor is best. If you’re comfortable with mobility and have a set perception of the chosen advisor’s characteristics, expertise, and skill to achieve your financial goals - geographic distances will disappear. 

If you are worried about the development of the U.S. dollar and would like to benefit from the safety of a world-known safe haven country like Switzerland, then an offshore wealth manager certainly has a lot to offer to you.

Remember, you may be retiring outside of your local area. At some point, you will need to use technology to communicate with your advisor. So why wait? From the advisor’s perspective, sound business practices are rooted in establishing long-term relationships built on long or short distance trust.

Life is unpredictable, and an offshore wealth manager can help you build a safe nest-egg outside your country that has the potential to lessening the financial challenges you may face in the future. The key is establishing a reliable portfolio for you with a partner that is specialized in working with U.S. clients and has an understanding of all the relevant rules and regulations.

Evolving Times

When you’re looking for a financial advisor, you may need to look beyond your local neighborhood. Advisors have been actively working with local and distant clients for years – regarded financial experts generally have clients scattered throughout the states, sometimes internationally. It’s essential to select the expert capable of walking you through the hurdles to keep your dream on track no matter what life throws at you. 

In some cases, the client’s location may limit the selection of local financial advisors, making it necessary to work with a remote advisor. You may change residences or careers relocating to another city and find that working with an advisor remotely, works for your lifestyle. Look for one with the skill and knowledge to work with your situation and help guide you through the phases of earning investment returns.

Due Diligence

Before you choose a financial advisor, do your homework. Ask for references, talk with the current clients, and check out the governing financial agencies – you’re looking for disciplinary history. 

All financial advisors registered with the Securities and Exchange Commission (SEC) in the U.S. operate according to the law governed by standards and regulatory guidelines. Don’t be afraid or intimidated to ask the advisor about the information you find. 

You can find more information and help in regards to the due dilligence process in two of our previous blog posts: What is the ADV Brochure and how can you use it to your advantage? as well as What to ask when selecting a Registered Investment Advisor?.


The principle value is awareness – client needs change – markets shift. The right financial advisor will determine the amount of risk you can afford and navigate you through the events that impact your future. Plan for the unexpected, discuss the past year’s activities and make the necessary changes as you move forward. You can’t do it alone – you need an experienced and practiced professional - local or distant.

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