Further to the news about British nationals trapped in an Australian fund (FA, 4 September), the problem with taking advice from a person in a foreign country like these expats is that the adviser is not regulated and does not have to fully disclose commission and fees. Most expat advisers are failed UK advisers, in my opinion, who have moved abroad as they can sell anything they like.
The offshore bonds have no responsibity to what the clients invest into - maybe this should change.
Get your advice from a UK authorised company. Try and pay no entry fees and try and get it on an annual percentage based on assets under management. This way, the adviser benefits if it goes up and loses if it goes down. you will mean the same to them this year as you did last year and if they do not look after you, stop the fees.
It is the only way.
David Robinson
Chartered financial planner, Chadwicks, Norwich, Norfolk
