If you’ve ever wondered what moving to Spain would be like, there is a book you should read. It’s title is “The Dougherty Code: Secrets of Financial Planning in Spain Revealed”. It’s a book that demystifies the landscape of the financial system in Spain, offering practical advice and recommendations for Americans there. Its author, Peter Dougherty, has worked as a financial planner at BISSAN Wealth Management helping Americans who live in Spain during the past three years.
His bio, which takes up a page, tells us that Mr. Dougherty could be a financial planner in the United States. Last month, he became a Certified Financial Planner® professional. He also holds an MBA in finance from Columbia Business School in New York and worked 20 years at a trio of investment banks on Wall Street.
Additionally, his bio tells us that Peter could be an effective financial planner in Spain. He’s the only American who is certified as a European Financial Planner in Spain. In 2024, he earned a master’s degree in Spanish taxation from Nebrija University in Madrid.
What it doesn’t tell us is that he explains financial jargon simply and avoids using technical terms in his book. His in-depth knowledge and experience in the finance sector enables him to paint a visual picture of even the most complicated tax and investment concepts. This is how professional book reviewers describe the readability of Peter’s book:
“I liked the fact that even the technical aspects of financial management and planning are presented in an accessible writing style to ensure all readers can easily understand the topic at hand.” (Readers’ Favorite).
“Provides easy-to-understand explanations of exactly what financial planning is and how it can be more accessible and transparent.” (IndieReader).
“One of the standout features of the book is the author’s ability to demystify the complexities of investment banking and make them accessible to readers from all walks of life.” (Online Book Club).
What makes the book interesting is the way the author describes the complexity of the financial problems faced by Americans in Spain face at the same time as the simplicity of how these fiscal hurdles can be overcome.
As Dougherty explains:
“Unlike most countries, the United States taxes its citizens based on their citizenship, not their residence. This means that Americans who live, work, and pay taxes in Spain are still required to file tax returns in the U.S. and comply with IRS regulations. Thus, even though an American may reside in Spain, the investments and reporting obligations of U.S. citizens abroad must be carried out in accordance with U.S. law, regardless of what local laws say. Living in Spain does not exempt a U.S. citizen from the IRS rules. Thus, financial advice for these expats needs to simultaneously incorporate the limitations imposed by rules on both sides of the Atlantic. That is why I continually seek additional financial education and training in both the U.S. and in Spain. At the same time, I want to learn from my clients as well, hear about their goals and dreams. Our mission is to translate each client’s goals, wishes and dreams into dollars and cents (or euros). That allows us – given their salary, savings and investments – to determine if and how these goals can be financed.” Attaining the Certified Financial Planner® designation last month is yet another step, but not my last.”
Peter Dougherty, CFP®, CRPC®, EFP (Spain) is a financial planner at BISSAN Wealth Management in Spain. He holds an MBA in Finance and a BS in Economics in the United States and a MS in taxation (Máster en Fiscalidad y Tributación) in Spain. He is the author of two financial planning books: “The Dougherty Code: Secrets of Financial Planning in Spain” (English) and “La Hoja de Ruta Fiscal y Financiera para los españoles en EE.UU.” (Spanish).
To schedule a free consultation with Peter Dougherty: https://www.financial-planning-in-spain.com