5 Ways You Can Benefit From Having a Financial Planner in Japan

Throughout most of my 20s living in Japan, financial planning fell far behind planning my next holiday. But when my friends back home started saving up or making investments to plan for their weddings, first houses or kids, I started wondering if and how I should financially prepare for my own future as a woman living outside of my home country. 

Making plans when there are so many unknowns and complexities around living internationally felt like a gamble. How could I manage investments when I have savings in multiple currencies? What would happen if I made investments in Japan but decided to move to another country? How could I make the best decisions when I didn’t understand how laws and taxes even worked here?

I started wondering if and how I should financially prepare for my own future as a woman living outside of my home country. 

All of these questions were swarming in my mind and I found myself trying to do research on my own—and promptly giving up. 

And it seems I’m not alone. When I posted on my social media asking other women and men if they had ever done any kind of financial planning, many people replied with similar concerns. “How should they maximize their retirement savings if they’re not planning to take the Japanese pension?”, “Should they invest in Japanese real estate while here?”, “Isn’t investment risky?” they commented.

A financial planning firm designed for foreign residents

The team of expert financial advisors at Argentum Wealth.

I sat down with Argentum Wealth, a financial planning and advisory firm for the foreign community in Japan, to find out what we can do to take control over our financial future as foreign residents.

Argentum Wealth is based in Minato-ku, just a few minutes’ walk from Tokyo Tower. They are the largest locally licensed firm in Japan focusing on the expat community.  The company was founded in 2007 by Lloyd Danon and Martin Zotta, two financial advisors who each have 20 years of experience serving the international community. They advise and manage a wide range of areas, from general financial planning to investments, private pensions, insurance, and real estate.

Of course, both Zotta and Danon agree that there are tons of ways that you can benefit from having a financial planner but here we’ve whittled it down to the top five.

1. You can maximize your money wherever you are in the world

If you’re worried about having to move your investments when life takes you to another country, it doesn’t have to be that complicated. You can establish investment accounts that are based internationally, which means you can move from one location to the next without having to constantly move your investment accounts. Argentum Wealth designs portfolios for people who are mobile, allowing clients to access their portfolio from anywhere.

This means that you don’t have to worry about having an exit strategy with your investments if and when you decide to leave Japan. Argentum Wealth works with multiple currencies, so you can easily make international investments even if you have savings and income in different currencies. 

Argentum Wealth has decades of experience working with international clients, they have access to examples of what other people have done in your situation to help guide you in decision making.

“In many cases, our clients will rotate through Tokyo. Once accounts have been set up, they can be managed and accessed from any country in the world. A lot of our clients are living back home or in another country following their careers and we continue to help maintain their investments,” says Danon.

You don’t even have to find a new financial planner if you move. Argentum Wealth continues to manage clients through Skype, telephone, and email, so the quality and range of services can be maintained even if you are abroad. The only thing that changes is what time you set up your meeting based on your new time zone. 

2. You can build your own knowledge of financial options in Japan and beyond

One of the Managing Directors at Argentum Wealth, Lloyd Danon (left), has been financially advising international clients for 20 years.

There are a few reasons why foreigners do not make local investments in Japan but one of the major ones is the many banks will turn you away if you can’t read and write Japanese. Language and cultural barriers can make investing your money feel like a leap in the dark.

If you’re not sure how the tax system works in Japan, whether or not you should invest in local assets or if your money is better off in investment abroad, then speaking with professionals can help you confidently make the right choices based on your situation. 

“We work together with trusted local partners that specialize in offering services in English to make it very easy for foreign clients to acquire investments like properties, and then have them managed,” says Zotta.

Note: If you are a US National, they also assist with pension transfers and 401Ks. 

“We are one of the only firms with access to onshore US solutions for Japan residents,” adds Danon. 

3. You’ll have access to a wider variety of options for where to invest your money

Each stage of life comes with a new set of investments to consider. Argentum Wealth can help you with a wide range of strategies from retirement planning, children’s education, lump sum, regular savings, portfolio management, life insurance, health insurance, inheritance, and tax planning, so they can meet you where you’re at when you’re ready.

They also have a property management side that covers everything from single units, houses, multi-units, and apartment buildings. This also includes mortgages, loans, property management, and managing rents.

Most of the international women in Japan who have worked with Argentum Wealth have decided that they want to be financially independent regardless of whether they are with or without a partner.

“Normally when a foreigner purchases an investment property, they might not get hands-on with management. An estate agent or management company will manage all of the billings and mortgage payments and pay the owner what is left at the end of the month,” says Danon.

Argentum Wealth will oversee your assets and make sure that they’re offering the right return.

4. You can invest independently from your partner

Most of the international women in Japan who have worked with Argentum Wealth have decided that they want to be financially independent regardless of whether they are with or without a partner. For some women, the income stream might change during their life due to having kids. However, while their considerations might vary, their basic financial needs and goals are not so much different from men’s.

“We do a financial review to look at assets or objectives and each situation is case by case.  Every client is different, and so the planning has to suit them.  For example, some couples want all the financial planning and investments done together, while others feel more comfortable keeping everything separate and confidential.” says Zotta.

5. You can start wherever you’re at

Financial Advisors at Argentum Wealth, Jack Lowe (left) and Robert Alfa (right).

There isn’t a minimum budget required to getting started. While many people have the perception that you need to be rich to have a financial planner, Argentum Wealth has a range of solutions for people who are just starting out as well as for people who have accumulated wealth and are looking to reinvest or to place that wealth somewhere more efficiently. 

“You can start with a simple, monthly investment plan. There is something for everyone,” says Zotta. 

“You can start with a simple, monthly investment plan. There is something for everyone,” says Zotta. 

There’s no handbook to being a foreign resident in Japan, which is why it can be hard sometimes to assess where you’re at in your life and how to make decisions about your money. Since Argentum Wealth has decades of experience working with international clients, they have access to examples of what other people have done in your situation to help guide you in decision making. 

“We learn a lot from our clients, and are in a position to pass on that valuable knowledge to our client base,” says Zotta.

How can I get started with a financial planner?

Martin Zotta, one of the Managing Directors at Argentum Wealth.

If you’re new to working with a financial planner, the first step is to have a conversation. You can do a complete financial review with Argentum Wealth and share your goals and priorities, and they will conduct a follow-up meeting with you to share solutions and recommendations. Even if you don’t have an idea of what you want to do before you speak with them, a simple conversation can open your mind to options. 

My biggest takeaway from our interview was this: As international residents, we might feel hesitant about creating a plan when we don’t know exactly how our lives will pan out. But if you think about it, life planning—marriage, divorce, kids and so on—is never certain, even for people who haven’t ever left their home country. 

Having a financial planner will help you make the best decisions for what to with your hard-earned cash and how to ensure a secure future. That sounds like a sure bet to me.