PPRuNe Forums - View Single Post - Need input in regards to a financial advisor in Dubai
Old 19th Mar 2013, 06:55
  #20 (permalink)  
Enecosse
 
Join Date: Apr 2008
Location: London
Posts: 94
Likes: 0
Received 0 Likes on 0 Posts
I would have said his advice on life insurance is sound. It's just a question of are you able to find a better deal on the web. Insurance is so competitive these days.

The Generali fund he is selling sounds like their Vision product. I have had a look at it. The TER is about 1.2% a year, if I remember correctly you commit to 6 months payments for the 5 year plan, you can stop after that with no penalties except your 'bonus' is less at the end. There is a wide selection of funds to choose from. Regular payments also help avoid market timing issues with the pound (krona) cost averaging effect.

From a UK tax point of view it has some benefits, tax deferral by way of 5% capital drawdown as tax free income a year for 20 years. Also if you die named beneficiaries get the cash without the long drawn out process of probate.

There is a cost to most things in life, end of the day the financial adviser is just trying to earn a crust. Caveat emptor, you are just going to have to take the time to figure it out, start with Googling bid offer spread.
Enecosse is offline