Financial planning
guide

Successful executives are generally highly intelligent, well educated and handle complex operations themselves. So we often get the question - do I really need a financial planner?

Strictly speaking, maybe not.

Let's start off with two things.

1. What most people need is someone to work out what they want from life, how much money they will need to do what they want to do, and when they’re going to need it.
2. To answer the opening question: you may regret it if you don’t. As General Patton said: ‘a good plan today is better than a perfect plan tomorrow’.  Day in and day out, we see the irreparable damage of people who have taken investment advice from a financial salesperson or a friend rather than a financial planner. 

Now, choosing a financial planner is a choice, because much like many professional services, it’s entirely possible to do it yourself.

The rules of building wealth and how to invest successfully are remarkably simple.

But it's extremely rare for us to review and not find a costly error which is why, having a good financial planner, at the right time, may add immense value and convenience while paving the way for you to achieve your future financial goals faster and preparing for a financially secure retirement.

Financial planners can help prioritise the things that are most important to you and sift through the endless ambiguity on investing and insurance in order to find solutions that align to your unique goals. 

It’s also about guiding you onto the right path and pulling you back when you veer off track, all while being an unbiased soundboard for any doubts or fears and reminding you to stay the course to achieve your long-term financial goals.

Good financial planners remove the drudgery so you have more time to do the things you enjoy.

Here's how this applies to high-earning executives in particular...

We found an insightful report titled: ‘The Value of Financial Advice’. It’s produced by the International Longevity Centre of the UK and supported by Royal London.

It examines the impact of financial advice on the ‘affluent’ and ‘just getting by’.

Here are the key findings:

• The ‘affluent but advised’ group accumulated 17% more in liquid financial assets and 16% more in pension wealth than their non-advised counterparts
  
  
• Similarly, the ‘just getting by but advised’ accumulated 39% more in liquid financial assets and 21% more in pension wealth than the ‘just getting by but non-advised’
  
  
• Financial advice led to greater levels of saving and investment in the equity market – across both ‘affluent but advised’ and ‘just getting by but advised’ groups
  
  
• 9 in 10 people were satisfied with the advice received at the time they received it
  
  
• 86% of people who were satisfied with their advice, bought a product recommended by the financial planner
  

Overall, creating a holistic financial plan that lays out a detailed course of action to get there, while factoring in all possibilities is easier said than done – but a good financial planner can help.

They’ll offer you support and guidance to save you from bad decisions.

Planning your financial future may seem simple after all. But it’s certainly not plain sailing when done alone. 

We are always excited about this question because the answer has a profound effect on you and your financial plan.

Investing helps you live the life you want.

This might mean:

1. Retiring early.
2. Providing for your children and giving them the best education.
3. Buying a house, reducing tax and sorting problems.
4. Making your future safe and secure.

Bottom line, there are only two ways to make money: by working and/or by having your assets work for you.

Senior executives are usually high earners with a good amount of saving, so we often get asked this question since they believe they can reach their financial goals eventually without investing.

Let’s put it this way, if you don’t invest and you keep your money in cash you will never have more money than what you save i.e., your money isn't working for you. In fact, inflation actually erodes it.

By investing your money wisely, you are getting your money to generate more money - by buying and selling assets that increase in value.

Whether you invest in stocks, funds or property, or any combination, the objective is the same: to make investments that will generate more cash for you in the future so you can achieve your financial goals. It really doesn't matter how you do it as long as you do it well.

And the simple truth is that many people don’t.

Investing done well implies:

1. Putting away capital today for your tomorrow.
2. Thinking about what you really want from your future and planning how to get there.
3. Buying high-quality, boring investments at low cost.
4. Maintaining investor discipline.

Whether your financial goal is to send your kids to college or to retire on a yacht in the Mediterranean, investing well is one of the only vehicles that will get you and your family there. This is why you should invest and make it the most important part of your financial planning.

One of the most important parts in financial planning is putting in motion an investment strategy. But the question we are asked time and again is, when is a good time to start investing and can you time the market to find the best window of opportunity?

Let’s answer this question using evidence and facts so the results can speak for themselves.

Imagine this scenario…

Two brothers, let’s call them John and James both receive a £100,000 inheritance from their grandfather in 1986 and invest it into the FTSE All-Share Index. Over the course of 33 years, both he and his brother keep their investments, albeit with different investment strategies.

John invests the money and leaves it alone, choosing a long-term approach and ignoring whatever happens in the markets. James, on the other hand, enjoys the thrill of a more active approach – selling when the market is low and buying when it’s high.

Who lands up with the larger investment?

Because of his constant buying and selling, James misses out on 10 ‘best days’. His investment value is worth only half of John’s.

Like Aesop’s famous fable ‘The tortoise and the hare’ a slow and steady approach ultimately wins the race.

The real cost of timing the market

One of the biggest risks of trying to time the market is being out of it when an unexpected rise takes place. Often this happens immediately after a correction, meaning that by staying invested, you have the best opportunity to capture growth over the long-term.

Your view should be time in the market, rather than timing the market. Even missing out on 10 ‘best days’, could chop your investment in half. Market timing is a pure gamble, summed up beautifully by Matt Hall in his book, Odds On…

“Most investors try to pick the right investments and time the market’s moves, but their chances of winning are as slim as their chance of beating the house when they walk into a casino. The deck is stacked against them.”

Every year, global events shape our countries and our economies. A lot of people wait to start investing and try to time the market. Here are 30 examples of 'why not to invest'.

But happily ignoring these events (in terms of our investments, at least), Is the best course of action.

No one knows what the markets will do, which means market timing doesn’t work. It also means you miss out on the power of compounding which needs time to work its magic and to get you closer to achieving your financial goal.

Remember, Warren Buffett made 99% of his fortune at 52. Maximising growth comes down to patience, time and compounding. Too often, investors are fed a bunch of comforting lies, conflicting or biased information that work against them. That’s not what we do. We prefer to be radically transparent and honest while creating a financial plan for you.

But if you haven’t started an investment portfolio, there’s no better time than now. You’ll never be younger than you are right now.

The best time to invest is as soon as you have the money.

The financial planning world can be surprisingly complex and full of people who have their own interest in mind and not yours, making it very important for you to choose your professional financial planner carefully and to be aware of the many different practices prevalent amongst different types of ‘adviser.’ 

For example, a commission-based, life insurance-based salesperson is the anthesis of a financial planner.

Dirty tricks of the trade:

There are 6 principles which any kind of influence is based on. These were discovered by Professor Robert Cialdini, author of the book: Influence: The Psychology of Persuasion. These influences affect many different sectors and industries.

But we mainly want to discuss how you can avoid falling for such trickery while choosing your financial planner.

1) Authority

We’ve all heard the line: ‘Trust me, I’m an expert’.

Authority bias is powerful because it can drive people to behave in ways that are often at odds with reason. It can get you to invest in something your gut instinct is warning you against.

We all know the story of Bernard Madoff who ran the largest Ponzi scheme in the world. He is behind the biggest financial fraud in U.S. history – estimated to be worth $64.8 billion. 

New York Times reporter Diana B. Henriques, said about the scandal:

“If you ignore the simple checks, legitimacy can be hidden under layers upon layers of untruths and obfuscation.”

Don’t take things on face value. Expertise is not a bad thing – but do your research, ask to see qualifications, certifications and records and check client testimonials are real by contacting the people before signing on the dotted line.

2) Commitment and consistency

Do you want to be rich, live in your dream house and make it all happen? 

“What if I told you I have the financial product to make all this a reality…Want to know more?”

See what I did there?

It’s what I call the ‘yes’ train and it’s one of the more notable tactics used in tele-sales ads back in the day (You know, the ones selling magic stain removers).

It’s a bit of mind trickery. A salesperson will start you off on a series of questions that you’ll answer ‘yes’ to, inevitably painting a picture where all your dreams can be realised, making you think this person truly understands you and your financial needs.

By the time they switch to selling you the product you’re so used to saying ‘yes’ that you find it hard to say ‘no’. The commitment and consistency bias makes it difficult to change your position. Remember this as you make financial decisions in the future.

3) Social proof

‘Crypto: everyone else is doing it and making loads of money’.

Sound familiar? While following the crowd can have its benefits, there are a few dangers to look out for.

Social proof in investing contributes to volatile asset prices. These trigger market booms and busts, just a quick look back at Bitcoin and you’ll see what we mean.

When it comes to investing, it’s best not to follow trends. Instead, opt for long-term diversified portfolios that will minimise risk and safeguard your finances during ups and downs in the market.

4) Reciprocity

When someone does you a favour, do you feel the need to repay them?

This is reciprocity bias. Financial tricksters can use this bias to get you to buy their products without any concern for your financial planning or future goals. A game of golf at a prestigious club, a free gift when you provide referrals, all of these may encourage a need to return the favour.

It’s important to not be misled by supposed acts of kindness since these won't make up for a bad financial decision.

5) Liking

Friendship is a common deception to ordinary investors. After all – it’s easy to trust people we like.

Friendship can make you let your guard down but that can adversely affect your finances. Regardless of how charismatic, trustworthy and friendly you believe someone to be - do your due diligence before signing on the dotted line. Compare the data, products, performance and fee structures and read unbiased expert reviews to give you a better perspective.

6) Scarcity

This supermarket tactic is also used by financial salespeople.

‘Special offer for a limited time’ or ‘Free bonus units’. These are done in an attempt to force you to make a decision under pressure, which means, you’re far more likely to rely on the emotional part of your brain than the rational one.

If you feel you may be persuaded into purchasing a product you’re unsure of, getting a second or even a third opinion never hurts. It may even save you money down the line.

You can give us a call and we’ll happily give you an unbiased review for free. It might give you a clearer picture of what you’re being sold.

Financial planning can be difficult as is. Ensuring you make the right decisions becomes all the more important for your financial future.

Ever heard of an investing black hole?

Essentially, your money is sucked in and never seen again. Don’t believe me? Read this client’s story.

Our client, Andrew, is all too familiar with them.

He moved to Dubai from London in 2016. His company set him, his wife and children up handsomely with relocation, housing, schooling and healthcare costs all paid for.

With more disposable income, he hoped to invest more and possibly retire early to spend time with his family. Unfortunately, as a busy, high-earner in Dubai, he became an easy target for unsolicited sales calls.

A charismatic financial salesperson contacted him, offering to meet at a nearby coffee shop to chat about his investment options.

“You need to take full advantage of your tax-free salary and cash in on the current market volatility. Transferring your life savings into an offshore bond is the best decision for your future.”

Andrew was won over.

He withdrew his £600,000 pension and invested all of it into the offshore bond recommended by the trusted salesperson.

However, his investment hadn’t grown in two years – despite a raging bull market. Those inflation-beating returns he was promised were nowhere in sight. With his retirement and family’s financial future on the line, he desperately sought a second opinion.

After scrutinising his investment, the results were shocking. He unknowingly agreed to a 10-year lock-in period, paid his ‘financial planner’ an initial 7% product commission and 4% on the underlying investments…

An eye-watering 11% (£66,000) disappeared into the abyss on the day he transferred his money. But this was only the tip of the iceberg for him.

He was charged:

• Establishment fee 1.83% pa for five years
• OCF of funds 2.32% (AMC 1.75%)
• Portfolio management/advice fee 1% pa
• Admin charge £428 per annum (0.07% on £600,000)
• Transaction charge £25 x 10
• Total = circa 5.2%+ pa

It gets worse.

If Andrew withdrew his funds within the initial charging period of 10 years, exit penalties would apply.

It was clear, the damage was done. But, truth be told, the damage wasn’t irreparable.

The Middle East is littered with similar stories caused by a financial services industry that’s systemically broken.

While he couldn’t make up contractual losses, he could move on.

The journey would be difficult.

It would begin with a simple chat about him and his life, not about money…

Black holes are everywhere in financial services

Cases like Andrew’s often start with an unsolicited phone call from a ‘financial expert’.

They lure you in with lofty promises of free advice or high growth. Dangle current uncertain events at you. But like doctors, lawyers, accountants, etc.; professional financial planners (fiduciaries) never cold call.

They’ll wait to hear from you first, because everything should begin and end with you.

They’ll listen intently to your goals, recommend a strategy you’re comfortable with, provide clarity on why it works for you and give you the confidence to believe in it and leave it alone.

This is the secret formula to a successful investment experience.

It never ceases to amaze us at AES International, the number of people who ask us why it is important they use a regulated financial planner. It is tempting to answer this with another question: would you use an unlicensed dentist, doctor, lawyer or any other professional? A better answer, though, would be that seeking professional advice is absolutely critical to avoiding catastrophic disaster when it comes to financial planning, too.

So why is it so imperative you receive regulated financial advice?

There are countless reasons why you should ensure that the advice you receive is given by a regulated financial planner.

Here are four key ones:

1) Protection

To be regulated, a firm needs to be a registered legal entity.  It needs financial resources (known as capital adequacy), professionally qualified individuals, and systems and controls that are adequate for looking after clients.  This means that you can have confidence that the company will not simply disappear.

2) Fair treatment

Regulated firms must follow strict rules ensuring the advice they provide is suitable for your needs, appropriate, and fair.  In the UK this falls under an Financial Conduct Authority (FCA) initiative called “Treating Customers Fairly”.

3) Qualified advice

The analogy about the doctors and dentists may seem obvious – I am sure you also wouldn’t want an unqualified electrician to wire your house, an unqualified mechanic to service your car or an unqualified plumber to fix your pipes.  However, the international financial marketplace is littered with unqualified salespeople.  It simply does not make sense to trust something as critical as your financial well-being to someone with no qualifications.  Qualifications matter.

4) Fair recourse to complain

By using a regulated financial planner you will have a proper course to ask for redress if you feel a product has been mis-sold to you or you have lost out financially from having received poor advice. Regulated firms have well documented, careful, comprehensive and prompt complaints handling procedures. If you are not happy with their response you may be able to complain to an Ombudsman (independent adjudicator), or in some cases directly to the regulator who will investigate to ensure you get fair treatment.

In the event something does go wrong with the product you have taken out or the advice is wrong, you may be eligible for compensation from the firm, and more importantly, even if the firm is not in a position to pay, there is still recourse available. As an example, advice given by an FCA regulated firm in the UK is covered by the Financial Services Compensation Scheme (up to a specific limit): for regulated investment advice, for example, you can claim compensation up to a limit of £50,000 if a firm is unable to pay). None of this is available from an unregulated firm.

Regulated firms also have to have professional indemnity insurance in place which may pay compensation if they have made an error.  An unregulated firm will not have this cover in place leaving clients exposed to a great deal of unwelcome risk.

Successful executives usually end up paying a lot more in taxes than they owe since they are not advised correctly. Tax and trust planning is an important part of your financial planning process and should not be overlooked.

It’s important to consider whether international trusts have a role to play in helping you manage your wealth.

Whilst taxation is a fact of life, there is no law in any land that says you must pay more than you owe!  And yet, that is what so many expats end up doing, simply because they have failed to plan effectively, or perhaps don’t even understand their liability for tax.

If you’re a British expat – or have assets in the UK – your beneficiaries may be liable for UK inheritance tax for example - potentially on your worldwide estate.

And there’s more to tax than just inheritance tax, there’s capital gains, income tax at home and abroad. Your financial planning needs to look at ways you can legally mitigate your tax burden, so that excessive taxation doesn’t undermine your overall financial plan.

Trusts can play a very important role in reducing tax liability – but because there are many different types of trusts, it’s critical to ensure you have the right one in place and that’s where expert planning really could pay for itself.

World events can of course have an impact on the markets. Businesses and their leaders can see their lives and investments disrupted when this happens.

You may be feeling uneasy about this volatility and the impact it might have on your financial plan and investments.

Market volatility, can test even the most confident investors. For some, though, they understand the opportunity this presents.

Focus on what's important

It’s the best advice at times like these.

For those with a financial plan and strategy matching their capacity for risk…

The questions to ask are these:

1. Have the recent market falls jeopardised my plan?
2. Have circumstances changed sufficiently to warrant reviewing my plan?

The answer to both of those questions should be a resounding No.

The fact that markets are lower than they were a little while ago shouldn’t affect your financial plan at all. The problem with market volatility is that it tends to divert our focus and we land up focusing on the wrong things.

When you’re thinking about falling markets, the uncertainty surrounding Brexit, the strains in US-China trade relations, etc. they all seem very important.

If, instead, you focus your mind on your long-term financial plan, which should be designed to withstand these episodes, you’ll have a much healthier sense of perspective.

Along with hidden high fees, behaviour is the main reason why investor's don't make the returns they should.

As international chartered financial planners and wealth managers, it's vital that we communicate this message effectively.

How do you avoid making the common investment mistakes that other investors make?

Know the way you naturally think and then do the opposite, and if you can't, hire a chartered financial planner to manage your emotions and your investments so that your financial plan stays on track to reach your life goals.

Investing forms a major part of your financial planning and can be both the reason you reach your financial goals and the reason you don't, if done incorrectly. 

The traditional financial services industry is designed to benefit them and not you. Like a casino – the system is designed so the ‘house always wins’. Speculation is encouraged as each trade generates more fees and commission. The industry thrives on misinformation, using sales tactics and lofty promises to lure you into poor decision-making.

The evidence-based movement

That was until the evidence-based investing philosophy began.

Today, it’s become a global challenger to the status quo of Wall Street banks and international brokerages.

A growing movement based on Nobel prize-winning research, evidence-based investing delivers better results. Academically proven, peer-reviewed and grounded upon fact not fiction.

This philosophy captures the returns of the market through a low-cost, diversified and long-term investment strategy.

Always using scientific evidence to maximise investment returns while minimising risk from market downturns.

In other words, whatever you decide to do, make sure you have an evidence-based reason for doing it, and always be prepared to amend your plan when the evidence necessitates a change.

The result?

Happier, more fulfilled investors who finally have a sense of financial freedom. An end to the anxiety and worry stemming from a broken traditional financial services industry.

Is your retirement planning causing you anxiety? Do you neither have the time nor the inclination to get back on track? That’s where a financial planner comes in.

Lifestyle financial modelling approach for senior international professionals

Financial planning for tomorrow must start today if you hope to maintain a good lifestyle into your retirement. Pension plans, regular savings plans and residential property are the most common forms of retirement saving among international expats and all these investments have their place and a part to play in providing for your twilight years.

Free download: Expat Pensions: The Ultimate Guide »

However, retirement planning should start with solid foundations and this is where financial planning, with the help of an independent financial planner using lifetime cash flow modelling, can help.

The starting point for a conversation between you and your financial planner is not a financial product, but a holistic conversation starting with how you spend your current income. A review of your bank statements and credit card bills will quickly reveal how you live and where your financial resources are spent.

This can be broken down into the 5 areas showing the choices you make with your money.

• Giving
• Taxes
• Living expenses
• Debt payment
• Saving

This exercise can be very revealing and helps clarify for you and your financial planner how you are living and where your current priorities lay. By looking at each category of spending, we will often be able to streamline our finances and reduce unnecessary spending and take those crucial first steps to financial freedom.

It is worth noting that the five uses of money includes income taxes because at AES International, we encourage clients to consider the impact of taxes on their retirement incomes when they return home, even if they are currently living abroad.

For example, wealthy Brits will pay 45% top rate of income tax, the French 45% and some Americans over 50%.

Once you have completed your expenditure and budget review, the next step is to discuss with your financial planner your goals, your ambitions and your dreams. Most people’s goals include one or more of the following areas: family, career, health, friends and travel.

Your financial planner will then be able to help you calculate the financial cost of each goal and put each of your goals into a lifetime cash flow planning model which will show your existing assets, income, debts and future growth in easy-to-understand graphs.

Benefits of lifestyle financial modelling

1. It helps us clearly see what may happen in the future under different financial return scenarios. It is important to remember that your financial life will not necessarily turn out like this. 
2. It allows us to help you plot a financial course with much more certainty than before.
3. It helps your savings take on a greater purpose. 
4. Your goals will become achievable or realistic because you have taken the time to plan and focus on how to achieve them.

As an international senior professional, comprehensive financial planning involves a few additional areas. 

There are the 6 key considerations that go into comprehensive financial planning for expats and international executives like you:

1) Cash flow planning or cash management

One of the best routes to strong budgeting - and ultimately to stress reduction - is to prepare a cash flow plan. 

It will help inform your spending and savings decisions - and importantly, flag up future problems before they arise. 

Your cash flow plan will take into account your income, assets, outgoings, and other present-day information, and predict your future cash-flow in order to predict how much money you’ll have coming in and going out at any given point in your life.

Your forecast will help you plainly see expenditure, so you can better plan.  

The aim of cash management like this is to help you feel more confident about your finances, and have sufficient disposable income to enjoy throughout life – i.e., so you balance spending today - and then saving for growth for your future income needs. 

An additional benefit is that many cash-flow forecasts created by professional financial planners will help you spot potential shortfalls or issues before they occur.

If your plan anticipates future difficulties, such as not having enough to retire on, you’ll have plenty of warning to make alternative arrangements – like cutting spending and investing more today, so you can retire sooner and on a better income.

A strong side benefit of having a solid cash flow plan is that you demonstrate effective budgeting - which may give others confidence in your financial management, thus potentially helping you secure loans, funding, mortgages or overdrafts.

When we create a cash flow plan for you, we factor in extensive data.  For example, we plan for the worst, plan for multiple different scenarios, consider fixed and variable costs and returns on investment…

And then we create your financial road-map for your future prosperity.

2) Family and protection

Are you part of the sandwich generation? In other words, those who are financially responsible for both younger and older family members? Over 1 million Britons are.

If you have a single or dual financial responsibility as an expat, it’s critical to consider how your loved ones would cope if you were to suffer an incapacitating illness or even die.

There are very few countries in the world with as generous a social support system as the UK’s.  And fewer still where foreign residents are eligible for financial support in times of hardship. 

As a result, you need to think not just about growing your wealth, but also about protecting your family with insurance.

There’s a range of insurances and protections available that can help cover your family and give you the peace of mind that your loved ones will remain looked after, no matter what.

In some scenarios, protecting before investing may even make the most sense.  Your financial plan will help you determine your priorities, and how best to meet obligations and challenges to ensure your loved ones’ security is protected.

3) Estate planning

Having worked hard to build wealth and security for yourself and your family, the last thing you want is for an over-eager taxman to come along and rob your beneficiaries of what’s rightfully theirs when you pass away.

The fundamentals of estate planning and wealth protection or preservation need to be included in any financial plan – no matter how much or little you believe you’ll have to leave behind.

Inheritance taxes are only one part of the problem – as an expat your estate may be at risk of unfavourable laws of succession in the country in which you now live – or hold assets.  Dubai is a classic example where the laws of succession are unfavourable for most expats.

A solid financial plan focuses on protecting your wealth for today, tomorrow and your future generations.

When we, as financial planners work with you on your financial plan, we will look at estate, gift, and generation-skipping transfer taxes (as well as the income taxation of trusts, estates, and beneficiaries) for example.

We’ll cover strategies for making of present and future interests, the effective use of assets providing death benefits (e.g., life insurance, commercial annuities, qualified retirement benefits etc.)  The use of family businesses and investment entities as estate planning tools, the use of non-charitable actuarial techniques (e.g., qualified personal residence trusts and private annuities) in estate planning, valuation planning and estate freezing techniques.

We can even consult on post death estate planning issues and about providing liquidity in an estate.

4) Investment planning

Investment planning is the process of matching your financial goals and objectives with your financial resources, and it’s a core component of financial planning.

As a process, investment planning begins when you’re clear on your financial goals and objectives - it helps you match your financial resources to your financial objectives.

There are quite literally thousands of different investment paths you can take as an expat…by helping you set out clear and measurable goals, your financial planner can match the most suitable mixture of investments to each specific goal in the most efficient way.

5) Retirement planning

Retirement is one of the most important life events many of us will ever experience. From both a personal and financial perspective, realising a comfortable retirement is an extensive process that takes sensible planning and years of persistence.

Even once it is reached, managing your retirement is an ongoing responsibility that lasts throughout your life.

While all of us would like to retire comfortably, the complexity and time required to build a successful retirement plan can make the whole process seem daunting.

However, retirement planning can often be done with fewer headaches (and financial pain) than you might think – what it takes is some homework, an attainable savings and investment plan, and a long-term commitment.

6) Offshore banking

Offshore banking is suited to high earning professionals with around £250,000 to invest. It is an important step to take when managing wealth.

Arguably, opening an offshore bank account is the most important step for any expatriate to take when managing wealth.

Keeping your money in a country other than the one in which you live means if anything happens, you know your money is being held securely in another location. 

Keeping your money outside your old home country too will help you avoid paying taxes unnecessarily.

Another benefit of having an offshore bank account is that if you move countries again, you won’t have to move your money from one country to the next – because that is a major inconvenience. 

As an expat, by banking offshore, you can have all your assets arranged in one place.

Expat financial planning requires a lot of time and effort but with the right financial planner it can be the aspect that helps you reach your financial goals faster.

When you’ve found a professional financial planner with whom you can work, here are the 6 steps for international senior executives like yourself to ensure you have a successful financial outcome:

1) Establish your goals in life – your financial planner will work to understand your short, medium and long-term ambitions. We believe in goal-orientated financial planning at AES, to ensure you achieve everything you set out to.

2) Work out your assets and liabilities – your financial planner will list your assets and liabilities today, and using cash flow modelling, they will look at future potential scenarios to help structure your plan to grab opportunities and avoid problems.

3) Evaluate your current financial position – how close are you to achieving your goals? Are you on track for any of your ambitions, are you opening yourself up to risk or excess tax?  Your financial planner will look at every scenario with you.

4) Develop your plan – having determined your goals, identified any threats or opportunities, and with a thorough understanding of you, your financial planner in Dubai will create your road map for achieving each of your different goals.

5) Implement your plan – once this map is discussed, honed and agreed upon, the plans will be put in place so you can make the changes needed and ensure your financial future is successful.