Financial Advisors? - Page 2

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Financial Advisors? - Page 2


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  #11 (permalink)  
Old 12th October 2013, 07:03 PM
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You should run a mile from a financial adviser if they:

• Are not properly qualified and properly regulated.
• Do not openly tell you about their commissions and/or fees. (Costs should not be something to worry an adviser because people pay for professional advice)
• Charge you for the initial meeting / review of your finances.

There are a lot of advisers just interested in getting a sale and not providing a professional service.

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  #12 (permalink)  
Old 23rd March 2014, 06:05 AM
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So ...is this just a general life thread or do phonelists of high salary expats float around in Dubai generating a lot of cold calls to tell you about amazing 'opportunities'????? IE, is it any worse than anywhere else? Makes sense I guess, we're thinking of coming because there's an opportunity to put away significant savings and I'm pretty sure I wasn't the first guy that occurred to. I'm still figuring out what needs to be in a package to make it worthwhile. Am I missing something here? Once money is in the bank it's 1's and 0's and I'd assume people would use planners 'back home' where there is a more comprehensive regulatory environment environment.

What's the pitch? Are they pushing high risk, high yield stuff you can't pitch in the US unless it is to a 'qualified investor' or are they just pushing whatever can be pushed figuring there are lots of people with more disposable income than common sense working in Dubai????

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Old 23rd March 2014, 12:34 PM
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Quote:
Originally Posted by CHFIII View Post
So ...is this just a general life thread or do phonelists of high salary expats float around in Dubai generating a lot of cold calls to tell you about amazing 'opportunities'????? IE, is it any worse than anywhere else? Makes sense I guess, we're thinking of coming because there's an opportunity to put away significant savings and I'm pretty sure I wasn't the first guy that occurred to. I'm still figuring out what needs to be in a package to make it worthwhile. Am I missing something here? Once money is in the bank it's 1's and 0's and I'd assume people would use planners 'back home' where there is a more comprehensive regulatory environment environment.

What's the pitch? Are they pushing high risk, high yield stuff you can't pitch in the US unless it is to a 'qualified investor' or are they just pushing whatever can be pushed figuring there are lots of people with more disposable income than common sense working in Dubai????
Hi,
All of the above!
You find that there is a mix of seasoned expats and new expats in places like Dubai. The seasoned expats, like you say, already have their futures mapped out and work with trusted advisers.
The problem is with new expats who suddenly have a lot more money than they might be used to back home. Less scrupulous advisers will be looking at all ways to encourage these new expats to invest in the future - maybe with their high commission products and maybe without the financial protection that they may be used to in their home countries.
Cheers
Steve

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  #14 (permalink)  
Old 15th September 2014, 11:23 AM
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And you work there don't you...


Last edited by pamela0810; 15th September 2014 at 12:27 PM.
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Old 15th September 2014, 02:44 PM
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I don't know about these companies, but the following is something to keep in mind:

A fool and his money are soon parted.

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Old 15th September 2014, 02:47 PM
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Here is some good financial advice:
Only invest that which you can risk to lose.

Divide your money into three parts: 1 part to invest in real estate. 1 part to hold as cash. And 1 part to invest in business. This way, if you suffer loss, you won't lose everything.

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Old 15th September 2014, 09:28 PM
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Quote:
Originally Posted by Jowhara View Post
Here is some good financial advice:
Only invest that which you can risk to lose.

Divide your money into three parts: 1 part to invest in real estate. 1 part to hold as cash. And 1 part to invest in business. This way, if you suffer loss, you won't lose everything.
1. Invest money for pension
2. Invest money for kids' education when they get older
3. Investments (real estate is only one kind of investment avenue)
4. Disposable - as cash and for travel etc.

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Old 16th September 2014, 09:51 AM
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Quote:
Originally Posted by rsinner View Post
1. Invest money for pension
2. Invest money for kids' education when they get older
3. Investments (real estate is only one kind of investment avenue)
4. Disposable - as cash and for travel etc.
And don't forget to invest money for any potential marriages of your offspring. I've just come back from a family wedding in the UK. All I can say is WOW! That must have cost an arm and a leg. The bride is the youngest of three girls, all of whom have married in the past five years. All I can say is that her parents must have excellent financial advisors.

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Old 17th September 2014, 06:24 PM
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I just had a quick Google on PWS and the whole QROPS scam thing, anyway Google "pws qrops scam" Second link pws-dubai.blogspot

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Old 18th September 2014, 04:54 AM
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Quote:
Originally Posted by rsinner View Post
1. Invest money for pension
2. Invest money for kids' education when they get older
3. Investments (real estate is only one kind of investment avenue)
4. Disposable - as cash and for travel etc.
1. In this day and age, pension benefits to be availed of more than 10+ years later could drastically change the way it currently looks. companies/governments all doing their best to renegotiate
2. agree
3. agree
4. cash is king (even as part of an investment portfolio. you never know when the next market crash will be that will provide lots of opportunity)
5. Don't ever trust any adviser 100% with what comes out of their mouth (or anything they have written down for you to sign). At least do some research on what they're telling you to get into. Folks spend day-months researching for insurance, going to college, buying a car or a home yet they would rather pass off 100% of the leg work of where to put their investments in to financial services sales agents.

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