Expat financial advisor in Uganda

Expat financial advisor in Uganda – that will be the topic of today’s article.

Compararé algunas de las opciones disponibles a nivel local, junto con otras más portátiles, en línea e internacionales, como las que nosotros ofrecemos.

Para cualquier pregunta, o si desea invertir como expatriado, puede ponerse en contacto conmigo utilizando este formulario, o a través de la función WhatsApp.

Tiene sentido tener una opción portátil como expatriado, frente a una localizada, y eso es algo en lo que nos especializamos. 

We are also involved with a regulated company in Uganda, allowing us to assist Ugandan high-net-worth individuals locally, Ugandan expats vivir en el extranjero, as well as Western and other expats based in Uganda.

INTRODUCCIÓN

Uganda, officially the Republic of Uganda, is landlocked in East Africa. The southern part of the country includes a significant portion of Lake Victoria, shared with Kenya and Tanzania. Uganda is located in the Nile Basin and has a varied but generally altered equatorial climate. The country’s population is over 42 million, of which 8.5 million live in the capital which is the largest city.

Beginning in 1894, the territory was under the protectorate of Great Britain, which established administrative law throughout the territory. Uganda obtained its independence from Great Britain on October 9, 1962. Since then, the period has been marked by violent conflicts, including an eight-year military dictatorship led by Idi Amin.

The official languages in Uganda ​​are English and Swahili, although other languages can also be used as a medium of instruction in schools or other educational institutions, or for legislative, administrative, or judicial purposes, as may be prescribed by law.

Kampala is the capital and cultural center of the country. Foreigners are welcome, the society is not very conservative, and most people speak at least a little English, so getting to know the locals is not difficult. When it comes to lifestyles, Kampala may not have as vast a selection of consumer goods as the West, but it has almost everything you need for a good standard of living.

The country clearly has a downside. Still one of the poorest in the world, it has typical problems associated with poverty: corruption, lack of infrastructure, poor health care, and high unemployment. Whatever the reasons for your stay here, be it business, working in a diplomatic mission, religious motives or working in an NGO, you are likely to face these problems on a daily basis.

Finding yourself in a new country can be frightening and frustrating at first. If you are directed to Kampala through a company or organization, they may well inform you about home agents, medical facilities, places to get your essentials. It can help you get to know people and make these important networks of friends.

Of course, not all new arrivals are so lucky, and in any case, you will want to get to know the city and meet people on your own. No matter what are your circumstances, in case you are an expat arriving in Kampala for the first time with family, the first thing you probably may need to do is find sources of recreation and entertainment for yourself and your family.

Housing can be surprisingly expensive if you live in the city center. If your organization provides housing, then great! If not, then you will probably be given a limited amount of hotel time while you find your own. There are a number of real estate agents who can help you find what you are looking for. When choosing an area to live, carefully consider the location of your spouse, as well as the location of potential schools – this can make a huge difference in the amount of time spent in traffic on Kampala’s extremely busy roads.

Housing affordability for expats ranges from impressive homes and gardens in secure complexes to condominium-style blocks and small family homes with modest gardens – again usually with their own housing complex.

Health can be one of the main reasons people sometimes hesitate to come to Africa. The threat of malaria, hepatitis, and other diseases and parasites is potentially high. However, you can significantly reduce your chances of contracting any of these diseases by making sure all your vaccinations are on time before you arrive and sleeping under a mosquito net. When traveling from Kampala, where there is a low incidence of malaria, to a more infectious area, take antimalarial pills and sleep under a net.

For an expat with health insurance or a small amount of money needed to pay for general health care, there are many good clinics and hospitals in Kampala. Unfortunately, this is not always the case in other regions of the country.

For many expats living and working in Uganda, illness is avoidable and there is a possibility of being healthy the entire time you are in Uganda, barring strange bouts of food poisoning! There are qualified health professionals and clinics here, so if you are a generally healthy family, you shouldn’t have any reason to worry about coming to Uganda.

Why do you may need a financial advisor in Uganda?

The problem for many people is that they have no control over their cash flows. As a result, they live chaotically, not understanding where they are going materially.

We are all unwittingly involved in the constant financial movement. After all, we make various monetary transactions every day. And it depends only on ourselves how conscious this movement will be on the scale of our entire life.

To manage the future, we need:

• Gestione sus flujos de tesorería;
• Transforme el futuro en un conjunto de objetivos financieros claros y mensurables;
• Elabore un plan para alcanzar estos objetivos;
• Lleva a cabo tu plan.

Esta es una situación habitual con la que trabaja un asesor financiero. Junto con esto, también son posibles casos especiales.

A person already clearly understands what tasks he is striving for. He only needs a specialist who will help him choose the right strategy for achieving his goal. And will offer the best tools for solving important problems. In both cases, a personal financial advisor is helpful.

¿Quién es un asesor financiero?

This is a specialist who advises on financial policy at different levels. He can work both as an individual and as a legal entity. This does not change its function.

Asesora a los clientes sobre cómo ahorrar o aumentar el dinero, evalúa su situación financiera, desarrolla una política de inversiones, un esquema de trabajo con las entidades bancarias y toma decisiones de gestión.

Esta categoría incluye las siguientes especialidades:

• corredores;
• asesores de inversión;
• contables;
• abogados financieros;
• agentes de seguros;
• analistas financieros.

The consultant may be well versed in a particular area of ​​finance, but may also be a multi-disciplinary specialist.

¿Qué debe saber un asesor financiero?

First, he must have all the necessary skills in the profession. Secondly, it is excellent to know the provisions and laws of legislation in the field of finance and economics. Further, he must understand the market economy, trends in monetary investments.

También debe ser capaz de evaluar los activos financieros y sus instrumentos. Comprender los procedimientos de compra y venta de valores en los mercados bursátiles. Además, debe estar familiarizado con los sistemas modernos de préstamo e inversión, control y fiscalidad.

En otras palabras, un asesor financiero es un asesor con excelentes conocimientos en cualquier área financiera, jurídica y contable.

Requisitos para ser asesor financiero

Typically, the following requirements are imposed on financial advisors:

• educación superior especializada;
• Experiencia laboral en el ámbito de las finanzas de al menos 1 año;
• Conocimientos de gestión financiera y contabilidad;
• conocimiento de la bolsa y el mercado de valores;
• experiencia en el análisis y la evaluación de riesgos financieros;
• Conocimientos de PC;
• dominio del inglés;
• habilidades de venta.

Tipos de asesores financieros

Existen varias categorías de asesores financieros:

• Investment consultants, salespeople, financial company employees. They will help in cases where the client has medium-term savings and investment projects. They have certain plans that they are willing to share. This category includes bank employees, insurance agents, realtors, pension and investment fund consultants.
• Motivational financial advisors. This is a different category. Such specialists help to draw attention to a specific problem, recognize it, and then decide on its closure in the chosen ways. In other words, the client receives instructions for action, taking into account his financial characteristics. Such specialists are approached for short-term cooperation, when the client already has a certain action plan, but he cannot decide on its implementation.
• Independent financial advisors. Their functions include finding out the client’s capabilities, choosing a number of solutions, as well as identifying the most suitable ones for implementation within a certain time frame. As a rule, they develop plans for the long term. For example, 10 years. During this time, the client’s well-being should improve.

But in this article, we’ll mainly focus on the two most popular types of financial advisors: local and online.

Asesores financieros locales

There are many misconceptions about the role of a financial advisor and the differences between financial market professionals. The reality is that having an expert to help you navigate the financial market and choose a catering investment based on your individual needs can be extremely beneficial in the long run. Especially local fiduciary consultants who are legally and ethically bound to always put you first.

Muchas personas prefieren un asesor financiero local por su comodidad, interacción y mucho más. He aquí las principales razones y ventajas de elegir un asesor local:

One-to-one communication

Yes, some people only trust personally, especially when it comes to money. If you are uncomfortable doing business on the Internet, a local financial advisor may be the right fit for you.

Many people prefer personal, human contact – especially the older generation raised on bricks and mortars rather than doing business online, which is why a local financial advisor is the preferred advisor.

Además de gestionar su cartera de inversiones, las ventajas de un asesor financiero local tradicional incluyen la posibilidad de comentar sus preguntas e inquietudes tantas veces como quiera, en cualquier lugar.

Face-to-face meetings can help you clarify your costs and goals by making an assessment appointment and scheduling regular reviews. All consultants are individual, which is why it is so important to take a closer look and ask questions to find someone who suits your individual needs.

Experiencia local

Uganda is a foreign country and for many expats the laws may be different, investment options, savings accounts, and more may require different skills.

The key decision is a local financial advisor. They are usually educated and focused on the laws and regulations that they follow in the country. So they are a great resource if you are looking to invest locally to drive growth in your area, city, or state.

Tenga en cuenta que la inversión local puede reportarle dos tasas de rentabilidad: una directa para su cartera y otra a través de su comunidad. Cada vez hay más pruebas de que, en comparación con sus homólogas no locales, las empresas locales tienen entre dos y cuatro veces más impacto en el desarrollo económico local por cada dólar que se gasta en ellas.

Por tanto, si tiene una cartera de inversiones que incluya empresas locales, sus dólares seguirán circulando y mejorando el bienestar de toda su comunidad al crear nuevos puestos de trabajo, aumentar los ingresos y, en última instancia, apoyar la financiación de escuelas, parques, servicios de policía y bomberos; y zonas seguras y prósperas.

Un asesor financiero local experto puede ayudarle con la diligencia debida para asegurarse de que su inversión local tiene sentido.

Asesores financieros en línea

Los asesores financieros en línea han ido ganando popularidad a lo largo de los años y por diversas razones.

Una de las primeras razones por las que la gente empezó a trabajar con asesores financieros virtuales fue para ganar tiempo en los viejos tiempos, ya que no tenían que subirse a su coche o sentarse en el tráfico para reunirse con su asesor financiero cuando una llamada telefónica o reuniones Zoom son simples. también.

Para las personas que viajan con frecuencia o tienen previsto trasladarse a otra parte del país (o vivir en el extranjero), trabajar con un asesor financiero en línea también garantizará que su relación no termine dondequiera que esté.

Perhaps the most significant advancement accelerating the trend towards virtual financial consulting is the ability of financial consultants to specialize in serving a niche that would be impractical if limited to working with clients in their hometown.

De este modo, tendrá la oportunidad de contratar a un asesor financiero que comprenda realmente sus necesidades individuales, basándose en su formación, experiencia y compromiso para ayudar a personas como usted.

La ubicación es la primera ventaja

Los inversores que buscan contratar a un asesor en ciudades con un alto coste de la vida a menudo tienen dificultades para encontrar un asesor asequible o que les acepte como cliente si no cumplen los requisitos basados en su patrimonio mínimo.

Tener una relación virtual permite a los inversores de, por ejemplo, San Francisco o Nueva York, contratar a un asesor en Delaware o Mississippi que probablemente sea más accesible y tenga un patrimonio mínimo declarado más bajo, aunque tengan la misma experiencia y nivel. de servicios.

Todo debe estar a su tiempo

Those professionals who work hard get good salaries, but they often cannot find a consultant who is available when they are – after hours. An online consultant is usually not limited to “office” hours and can contact you when you need it!

En épocas de intenso estrés financiero, a menudo no basta con revisar el plan anual. Como inversor, lo más probable es que prefiera disponer de sus planificadores o asesores financieros durante todo el año.

La relación cliente/consultor no es una relación que se establece y se olvida, sino un diálogo continuo. Esto incluye conversaciones continuas por texto o correo electrónico, que son mucho más convenientes que las reuniones cara a cara programadas una vez al año.

Aumente sus posibilidades de encontrar al asesor adecuado

Often, due to location restrictions, people choose financial advisors that are not right for them. Rather than focusing on finding a reliable consultant who cares about your interests and is experienced with your specific needs, physical limitations may prompt you to hire a low-quality consultant who happens to live nearby. The ability to find a working consultant practically expands the pool of potential candidates, so you can find the most suitable one for you!

Financial advisors have different backgrounds and the value they add can vary greatly. Even if a consultant is paid, this does not mean that they have the same level of expertise, offer the same services, or serve the same types of clients. Zoe will help you find the top 5% independent paid consultants in the country, so you can find a highly qualified consultant wherever you are.

Una vez que confíe en que su posible asesor financiero online tiene la experiencia adecuada, tendrá que evaluar si su experiencia se ajusta a sus necesidades y a su inversión. El valor que los consumidores esperan de un asesor ha cambiado radicalmente en las últimas décadas.

In the past, advisors were prized for their ability to try to beat the market by choosing stocks, bonds, or mutual funds on your behalf. Technology and product innovation have commodified many of these tasks through more passive and cost-effective investment vehicles such as index funds or ETFs. An online financial advisor practice can provide an interactive service that has already been redesigned for virtual work with its clients.

¿Cuándo necesita un asesor financiero?

By “financial advisor” we mean someone you trust and with whom you can discuss your financial situation, plans, and how you handle money. By no means am I referring to banking or brokerage employees – at least not most of them.

Below is a fairly extensive list of situations when it is time to think about this question.

1. When you have made a major financial mistake. Example: If you decide to sell all stocks in the midst of a corona crisis and withdraw money from the stock market, this is a sign that you cannot trust yourself in money and investment management. As a rule, past behavior is good at predicting your future behavior, and if you were scared in early 2020, then the next time, especially with large sums in control, you will probably also succumb to emotions and make an even bigger mistake.

2. You are tired of financial decisions, investments, etc. After 10 years of active work and investments, you have accumulated an amount at which you are satisfied with the income from rent – dividends from value companies, real estate funds, etc. If you are tired of choosing stocks, news tracking is a good reason to think about transferring at least some of your concerns to another professional.

3. Not enough time. If you have a non-market job and in addition to that, you have a lot of family concerns, it is unlikely that the 15-20 minutes you spend a day after a hard day at work will help you manage your affairs effectively. family money. In such conditions, thinking about rebalancing the portfolio and choosing one or another ETF or even more so a stock is the last thing you need to do.

4. When the “shares” have risen so much that the cost of a mistake can set you back years. It’s one thing when you’re young, full of energy, your brokerage account is only $ 5,000, and your entire working horizon is still ahead – in this case, even a complete loss of capital is unlikely to seriously affect the way you live. after retirement. It’s another matter, when you are already over 40, investments amount to several annual salaries – in this case, you already have less time and effort to correct possible mistakes before retirement (and they will certainly be).

5. You have a specific goal – to buy a second home in 10 years and retire in 20. It is clear that the financial consultant does not have a crystal ball. But, using his knowledge and experience, he will at least tell you what risks can be realized over such a long period, and will assess whether you have at least some chance of achieving what you want.

¿Le duele la indecisión financiera? ¿Quiere invertir con Adam?

Adam es un autor reconocido internacionalmente en temas financieros, con más de 340,1 millones de respuestas vistas en Quora.com y un libro muy vendido en Amazon.