There are a number of Independent Financial Advisers (IFA's) in Southern Spain, who provide financial planning services on either a time and cost or a commission basis. Local representatives from banks and life insurance companies supplement these services.
Generally, an IFA can offer you products that are more competitive than cash. However, proper research is imperative in order to match the best product and provider with the client's needs.
When choosing an IFA, you should be aware that many companies have come and gone in the past. Therefore, the ideal is to work with someone who is regulated, or at the very least, can provide you with proper qualifications.
Most of the products offered by IFA's are usually offshore products which generally offer better returns than the Spanish products. However is you are a resident and a tax payer any product that qualifies for a tax allowance should be considered. A Spanish Assesor Fiscal is likely to be more knowledgeable of these type of products.
You can prepare yourself to play an active role in deciding where to invest your money by reviewing the following articles.
|Asset Allocation||Investment Time Horizon|
|How can you structure your investment in order to minimise risk?
|How long should you tie your money up?
|Pension Tax Savings||Risk vs Reward|
|Qualified Recognised Overseas Pension Schemes (QROPS) can save you money.
|Be sure you understand this relationship before committing to a product.