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finding a fiduciary
Posted: Thu Oct 25, 2018 7:02 am
by TokyoTower
Does anybody know any (wealth management/accountant) company in Japan which has fiduciary status?
I'm asking this for a friend who is dealing with a UK inheritance tax issue and needs professional advice. I don't want him to get ripped off by some dodgy firms.
Do fiduciaries even exist in Japan? Perhaps there is an equivalent status?
Re: finding a fiduciary
Posted: Sat Oct 27, 2018 3:05 am
by AinT
I can't recommend one personally but make sure they service Japanese clients as well as foreigners.
There are no regulations for "financial advisers" in Japan who service foreigners only no matter how they try to spin it, if they don't have any Japanese clients then they are unregulated. (speaking from experience)
Also don't go by glassdoor or google reviews, all the "top" wealth management firms here servicing foreigners populate these sites with false reviewing. Notice all the reviewers for these firms have only ever left one review? That's a telltale sign of a fake account.
I read a puff piece recently on JapanToday about one of these charlatans who personally bilked me out of money a few years ago, be really, REALLY careful in your search.
Re: finding a fiduciary
Posted: Sat Oct 27, 2018 3:06 am
by RetireJapan
Yeah, for inheritance tax issues just consult a 税理士 (tax accountant) or the tax office directly.
Re: finding a fiduciary
Posted: Tue Oct 30, 2018 12:36 am
by TokyoTower
Ok, thanks for the advice