NRI Financial Advisor: 5-point criteria

For an NRI, financial decisions are rarely confined to one country, one tax system, or one generation. And financial advisory is not just about wealth management. The wrong advisor can create liabilities that cause more than just financial losses. 

The right advisor helps you coordinate across borders, and situations, not optimize in isolation.  

Here are 5 criteria to choose wisely when selecting your NRI advisor:  

Look for Cross-border thinking, not India-only optimization: 

While the NRI family may want an Indian financial advisor to get their assets in India managed, their situation demands a holistic approach and cross-border thinking.  

A capable NRI advisor must understand the interaction between Indian tax laws and NRIs country of residence, such as the nuances covering DTAA (Double tax avoidance agreement) treaty. The NRI advisor should have a broad understanding on the difference in the treatment of Income, Capital Gains, inheritance laws, etc. in the overseas country of residence. So the India assets are managed keeping these in perspective.  

The NRI should look for an advisor who begins by mapping:  

• Country of residence 

• Citizenship / VISA status 

• Reporting obligations in both jurisdictions.

Ensure Regulatory and Compliance Awareness across jurisdictions

NRIs are required to report their transactions, income, and assets in multiple jurisdictions. The advisor should be comfortable with 

• FEMA regulations (repatriation limits, using NRO & NRE accounts, PIS) 

• Tax reporting obligations in NRIs country of residence (working knowledge is necessary, such as FBAR in the US) 

Many NRIs discover compliance issues only when they try to repatriate funds, sell property, or transfer wealth to heirs.  

Thus, the NRI advisor should be in a position to ensure the financial situation of the NRI stays compliant with changes in regulation or residency status.   

Ensure the advisor coordinates with Global professionals 

NRIs face complexities that involve multiple disciplines, not just jurisdictions – such as legal, tax, real estate, investments, bank accounts etc.  

No single advisor can cover everything. The right one knows how to orchestrate expertise.   

A strong NRI advisor works comfortably with overseas tax advisors, wealth managers, and estate attorneys. They show willingness to navigate the cross-border complexities with awareness of their limitations.  

Has capability beyond managing Investments 

For most NRIs, the largest risks are not market risks – they are related to family, regulatory and situational. 

The advisor should be able to help with: 

• Managing Indian Real Estate (inheritance, sale, maintenance) 

• Supporting family with cash flows & remittance efficiently  

• Planning for succession when heirs live abroad (and have little interest in returning to India) 

• Preparing for emergencies, or sudden relocation plans 

Prioritize long-term alignment over product sales 

NRIs often deal with advisors remotely (based in India). It is very important that the incentives that drive the advisory relationship are aligned. 

NRIs should clearly understand 

• How the advisor is compensated (fees vs commissions) 

• Whether advice changes based on product providers 

• How conflicts of interest are disclosed