PPRuNe Forums - View Single Post - Need input in regards to a financial advisor in Dubai
Old 13th Mar 2013, 18:02
  #8 (permalink)  
Trader
 
Join Date: Apr 1999
Location: South of North
Posts: 655
Likes: 0
Received 0 Likes on 0 Posts
Don't buy ANY 'product'!!!! All the advisors in Dubai try and sell a plan of some kind through one of the major insurance companies. They lock you in, if you can believe it, for a time period and you are required to make monthly investments. All of it is crap!!!

You are better off doing it yourself, as mentioned, or going with a large, reputable brokerage/investment firm that charges you, at most, 1% of your holding to manage your account.

A good firm will sit down with you for several hours, go over your finance (pay, expenses etc), detail you objectives, asses your risk based on age and those objectives (for most it is retirement but also kids schooling etc), develop a FULL financial plan over 5/10/20 years for your savings. You'll get a copy and it will be adjusted yearly.

They will invest your money in stocks, ETFs, bonds etc based on your risk profile and will adjust it as required. The will maximize returns by ensuring some of the investment is in instruments that bring in a return (like preferred shares). A good firm will further that by selling covered calls on some of your stock - a strategy which can add a full 1 percent a year to your return or more.

If the advisor or company is not doing the above then stay away!!! You are not getting you moneys worth and, likely, better off doing it yourself.

Do NOT buy anything that locks you in! Tell them to F off because they are scammers with NO interest in your financial future.
Trader is offline