Financial Advisory Firms

indigo · #1 (**permalink**) 11th August 2009, 05:21 PM

Hi I am thinking of moving back to Dubai and would like to know if anyone has had experience of de vere & partners international financial advisers. I am very keen in joining their team in Dubai and would like to get feedback from anyone who either works for them or who has had dealings with them to gauge how easy/ difficult it is to make a living from financial services. Any views, news or comments would be gratefully appreciated.

Lenochka · #2 (**permalink**) 12th August 2009, 06:41 AM

No first hand experience. However, I heard quite some people complaining that these guys are simply sales guys who try to flock you any product in order to get their commission...basically,client interest is not taken into consideration.....

Ogri750 · #3 (**permalink**) 12th August 2009, 07:04 AM

Elphaba is your woman for all matter relating to this sort of profession.

I'm sure she'll will offer some words of wisdom for you

Willsy1 · #4 (**permalink**) 12th August 2009, 07:39 AM

Hi Indigo.

I'm sure Elph will reply to you also, but all I would say is do your research and look for the most suitable firm for you. There are many companies in the UAE calling themselves Financial Advisers, some very loosely. The regulation is totally diferent to the UK so you could come out here with no experience in financial services and do well. I have also sat in on a De Vere's presentation and after digging deeper decided that they were not for me!

Get up to 5 posts and you can PM me for some additional company names.

Elphaba · #5 (**permalink**) 12th August 2009, 04:17 PM

Quote:

Originally Posted by indigo

Hi I am thinking of moving back to Dubai and would like to know if anyone has had experience of de vere & partners international financial advisers. I am very keen in joining their team in Dubai and would like to get feedback from anyone who either works for them or who has had dealings with them to gauge how easy/ difficult it is to make a living from financial services. Any views, news or comments would be gratefully appreciated.

They aren't advisers, they are salesmen and that is all I can say on a public forum as they are litigious. (Wonder why??!)

I do not recommend your suggested course of action. I am an IFA with many many years expereince, several in Dubai and I will tell you that it is not as easy as it seems to make a good living here. I have seen many who have tried and failed. If you are a qualified and experienced IFA, who is a self-starter then you need to find a company with a good reputation and few have that.

Once you have made 5 posts you can activate the Personal Message function and we can 'talk' privately.

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indigo · #6 (**permalink**) 12th August 2009, 09:59 PM

Hi everyone, many thanks for all your views and comments.

As a general question to cover all financial advisers in Dubai how can a "salesman" not include client requirements? Surely the client will only be interested in purchasing financial products that are suitable for their needs after consultation with the adviser?

Any thoughts greatly appreciated.

Elphaba · #7 (**permalink**) 13th August 2009, 06:11 AM

Quote:

Originally Posted by indigo

Hi everyone, many thanks for all your views and comments.

As a general question to cover all financial advisers in Dubai how can a "salesman" not include client requirements? Surely the client will only be interested in purchasing financial products that are suitable for their needs after consultation with the adviser?

Any thoughts greatly appreciated.

There is a vast difference between selling a high commission paying plan and actually advising a client on their needs. Many companies have no interest in the latter.

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Willsy1 · #8 (**permalink**) 13th August 2009, 06:40 AM

The ExPat community is pretty transient and you will find people selling 25 year+ plans to people only looking to save for half that time. When they do get around to cashing it in, it's usually worth less than they expected!! In the UK you would go to the FSA with a complaint, but it doesn't work the same in the UAE.

As Elph suggested, there are only a few firms who will actually take into account the client's needs so chose wisely!

indigo · #9 (**permalink**) 8th October 2009, 05:36 PM

Quote:

Originally Posted by Willsy1

Hi Indigo.

I'm sure Elph will reply to you also, but all I would say is do your research and look for the most suitable firm for you. There are many companies in the UAE calling themselves Financial Advisers, some very loosely. The regulation is totally diferent to the UK so you could come out here with no experience in financial services and do well. I have also sat in on a De Vere's presentation and after digging deeper decided that they were not for me!

Get up to 5 posts and you can PM me for some additional company names.

Hi Willsy1

Been out of the loop for a while studying and taking exams in financial planning etc. Would very much like to talk to you regarding companies in Dubai re financial advisers. This may sound daft but how do I PM you?

Look forward to hearing from you soon.

Indigo

Willsy1 · #10 (**permalink**) 8th October 2009, 06:40 PM

Hiya.

You need to have done 5 posts and then you can send private messages.

Just reply to this one twice and you'll be able to send them.

Willsy1

Quote:

Originally Posted by indigo

Hi Willsy1

Been out of the loop for a while studying and taking exams in financial planning etc. Would very much like to talk to you regarding companies in Dubai re financial advisers. This may sound daft but how do I PM you?

Look forward to hearing from you soon.

Indigo