'Emirates' pilots financial advisors
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'Emirates' pilots financial advisors
Hi All,
To those of you who have been around here alot longer than me, do you have any advice on the advisors that claim to look after all the Emirates pilots? I believe they are Globaleye and Deveers, that keep calling.
Thanks in advance and by the way, what's the best way to invest the C fund? With them? Cheers.
To those of you who have been around here alot longer than me, do you have any advice on the advisors that claim to look after all the Emirates pilots? I believe they are Globaleye and Deveers, that keep calling.
Thanks in advance and by the way, what's the best way to invest the C fund? With them? Cheers.
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Beware
QNH 1013 stay AWAY from Globaleye and Deveers. They will only reduce your hard earned investment.
Globaleye and Deveers do not look after all the Emirates pilots. The only Emirates pilots they deal with, will be those that have not been warned. Beware most financial advisors in Dubai will be paid their commission upfront and then not give a dam how your investment is doing.
The approved company in Dubai, which is engaged twice a year (for free) by EK for your provident fund issues, is Mondial, though I wouldn’t recommend them either for your investment matters.
I can make a personal recommendation of a FP (privately), but then it will also depend on where you are from.
As for what to do with you Provident Fund, have a look at http://emiratescapitalassetmanagement.*************/
Goodluck
Globaleye and Deveers do not look after all the Emirates pilots. The only Emirates pilots they deal with, will be those that have not been warned. Beware most financial advisors in Dubai will be paid their commission upfront and then not give a dam how your investment is doing.
The approved company in Dubai, which is engaged twice a year (for free) by EK for your provident fund issues, is Mondial, though I wouldn’t recommend them either for your investment matters.
I can make a personal recommendation of a FP (privately), but then it will also depend on where you are from.
As for what to do with you Provident Fund, have a look at http://emiratescapitalassetmanagement.*************/
Goodluck
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Link doesn't seem to work but here's one I found....
http://www.ecm-ag.com/index.php?tg=articles&topics=8
K
http://www.ecm-ag.com/index.php?tg=articles&topics=8
K
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oops
Sorry I don’t know why the link won’t work, but the one mentioned by Kapitanleutnant is incorrect, as the blog I tried displaying is by "Emirates Capital Asset Management (ECAM)".
If DM is reading this thread then would you please explain how to subscribe.
If DM is reading this thread then would you please explain how to subscribe.
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Stay away from Global Eye.
After the guy came in and gave a presentation, next time I called him he didn't know who I was!
Nevertheless never got involved with that company.
After the guy came in and gave a presentation, next time I called him he didn't know who I was!
Nevertheless never got involved with that company.
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Blueside:
Interesting comment about Devere, I have been using them for 2 years now and they haven't "stolen" any of my money, we invest very cnservatively (no high risk stuff) and have seen 14% the 1st year and 16% last year on our returns. Yes there are higher returning investments but we are only targeting 10% per annum so for conservative thinkers like my wife and I, I don't see a problem with that (haven't paid management fes for the last 2 years either, should I be in for a shock one of these days?).
On the other hand HSBC have been a complete waste of time as we also invest in Royal Scandia through them and their staff on beach road can't be bothered with you unless you have a million dollars or more to invest (right from the mouth of one of their investment people who used to be cabin crew with EK). The one a-hole gave me a grilling because I wanted to move MY money from the account to another account in Jersey.
So the above was my 2 cents worth, so if you could let me know at what point Austin and James (the only 2 allowed to work with EK pilots) will suck my investments dry please tell me, as I have a 1/4ly meeting with Austin later this month and then I can withdraw everything if need be.
Waiting for the financial advice to flow...
Dooner
Interesting comment about Devere, I have been using them for 2 years now and they haven't "stolen" any of my money, we invest very cnservatively (no high risk stuff) and have seen 14% the 1st year and 16% last year on our returns. Yes there are higher returning investments but we are only targeting 10% per annum so for conservative thinkers like my wife and I, I don't see a problem with that (haven't paid management fes for the last 2 years either, should I be in for a shock one of these days?).
On the other hand HSBC have been a complete waste of time as we also invest in Royal Scandia through them and their staff on beach road can't be bothered with you unless you have a million dollars or more to invest (right from the mouth of one of their investment people who used to be cabin crew with EK). The one a-hole gave me a grilling because I wanted to move MY money from the account to another account in Jersey.
So the above was my 2 cents worth, so if you could let me know at what point Austin and James (the only 2 allowed to work with EK pilots) will suck my investments dry please tell me, as I have a 1/4ly meeting with Austin later this month and then I can withdraw everything if need be.
Waiting for the financial advice to flow...
Dooner
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the flow
If I am not mistaken, Deveers where once known as PIC and having lost a lot of clients money (including mine) a few years ago they disappeared from Dubai and Asia.
Dooner I would thank your lucky stars that you invested with Deveers through a global bull run and you have made a gain. For what it is worth, my opinion is we are now in a bear market and you should pull out of equities for the next 1 or 2 quarters and lock in your gains.
You may have misunderstood my earlier comment when I said, they will only reduce your hard earned investment, I didn’t mean steal it. From my experience Deveers will not be centred on your return, as they make a trailer from your investments. On some occasions if you sign up for, as an example a 10 year investment scheme, they will be paid their 10 year trailer all upfront. A reputable consultant should disclose what that is. So you are paying a fee, but it is coming out of your return and then giving you 10%.
I would recommend looking at http://www.centralbank.ae/bsed/licensedConsultation.php as this is the list of the UAE Central Bank approved Financial Investment Consultants. You will note from the list below Globaleye and Deveers are not on it. To legally offer advice in the UAE, they would have to operate under one of the licensed Consultants below.
List of Financial Investment Consultancy as at 30th September, 2002
Elfina Financial Investment Consultancy- Dubai
Landmark International Consulting Services - Dubai
Professional Investment Consultants Co. Ltd - Dubai
Regent Investment Consultants- Dubai
Financial Consultancy Services Company- Dubai
Network Corporate Services L.L.C.- Dubai
Synergy Financial - L.L.C.- Abu Dhabi
Mondial ( Dubai ) L.L.C.- Dubai
Al Sahel Financial Advisory Est.- Abu Dhabi
Continental Financial Services.- Dubai
Acuma.-Dubai
Union National Financial Consultancy -L.L.C.
Feel free to PM me if you want to chat.
Dooner I would thank your lucky stars that you invested with Deveers through a global bull run and you have made a gain. For what it is worth, my opinion is we are now in a bear market and you should pull out of equities for the next 1 or 2 quarters and lock in your gains.
You may have misunderstood my earlier comment when I said, they will only reduce your hard earned investment, I didn’t mean steal it. From my experience Deveers will not be centred on your return, as they make a trailer from your investments. On some occasions if you sign up for, as an example a 10 year investment scheme, they will be paid their 10 year trailer all upfront. A reputable consultant should disclose what that is. So you are paying a fee, but it is coming out of your return and then giving you 10%.
I would recommend looking at http://www.centralbank.ae/bsed/licensedConsultation.php as this is the list of the UAE Central Bank approved Financial Investment Consultants. You will note from the list below Globaleye and Deveers are not on it. To legally offer advice in the UAE, they would have to operate under one of the licensed Consultants below.
List of Financial Investment Consultancy as at 30th September, 2002
Elfina Financial Investment Consultancy- Dubai
Landmark International Consulting Services - Dubai
Professional Investment Consultants Co. Ltd - Dubai
Regent Investment Consultants- Dubai
Financial Consultancy Services Company- Dubai
Network Corporate Services L.L.C.- Dubai
Synergy Financial - L.L.C.- Abu Dhabi
Mondial ( Dubai ) L.L.C.- Dubai
Al Sahel Financial Advisory Est.- Abu Dhabi
Continental Financial Services.- Dubai
Acuma.-Dubai
Union National Financial Consultancy -L.L.C.
Feel free to PM me if you want to chat.
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Sorry Blueside
Thanks for the post just re-reading some of those companies you suggested and will have to get Austins' business card....
Okay, just grabbed Austin's business card and it shows:
"...Professional Investment Consultants Middle East Limited..."
"PIC is wholly owned subsidiary of deVere & Partners Regulated and Licensed by The Central Bank
Registration Number: 13/223/2002
Are these the same outfit you are referring to.
One of the first questions we asked during our interview with Austin was if we were "tied in" for any specific period of time and the answer was no not with the Friends Provident and the Skandia funds that we chose to invest in. The fees are still there from both Friends Provident and Skandia as they are tail-end fees that reduce to zero over a period of 5 year. One could say that we are locked-in due to the end fees, but that was the same back home as we had a mix of front-loaded and tail-end fee funds, so the penalties are known going in and we don't really care as they are not too extreme. With these we can more or less do as we please as there is no committment to make any payments at all, where as the one plan he informed us about was indeed a 10 year plan with mandatory investments each month, with penalties for not doing so.
As our planned stay was not determined we wanted something more flexible and as we can't get away from either tail-end or front-loaded fees back home it didn't make much difference. As for management fees, we haven't paid a dime to either Friends Provident, Skandia or PIC.
I asked how PIC earns their money and he stated it comes from Friends Provident (or whomever they will be after the sale) and whatever fund companies their clients choose to use, now realistically I don't believe it is that simple.
So far we have asked some very pointed questions based on info from other sources and he has been giving exactly the same advice as the guys back home have been giving for our investments back there (my way of keeping tabs on things as well), so that is a little comforting. With the US dollar as it is we have a few more to ask this month and yes we are going to be protecting our profits because in the end they work or us and it is up to us to keep track and protect our investments, just like dispatch keeping a weather watch for us while we are enoute......
Cheers
Dooner
PS always open to other investment possibilities, providing cash is available!
Thanks for the post just re-reading some of those companies you suggested and will have to get Austins' business card....
Okay, just grabbed Austin's business card and it shows:
"...Professional Investment Consultants Middle East Limited..."
"PIC is wholly owned subsidiary of deVere & Partners Regulated and Licensed by The Central Bank
Registration Number: 13/223/2002
Are these the same outfit you are referring to.
One of the first questions we asked during our interview with Austin was if we were "tied in" for any specific period of time and the answer was no not with the Friends Provident and the Skandia funds that we chose to invest in. The fees are still there from both Friends Provident and Skandia as they are tail-end fees that reduce to zero over a period of 5 year. One could say that we are locked-in due to the end fees, but that was the same back home as we had a mix of front-loaded and tail-end fee funds, so the penalties are known going in and we don't really care as they are not too extreme. With these we can more or less do as we please as there is no committment to make any payments at all, where as the one plan he informed us about was indeed a 10 year plan with mandatory investments each month, with penalties for not doing so.
As our planned stay was not determined we wanted something more flexible and as we can't get away from either tail-end or front-loaded fees back home it didn't make much difference. As for management fees, we haven't paid a dime to either Friends Provident, Skandia or PIC.
I asked how PIC earns their money and he stated it comes from Friends Provident (or whomever they will be after the sale) and whatever fund companies their clients choose to use, now realistically I don't believe it is that simple.
So far we have asked some very pointed questions based on info from other sources and he has been giving exactly the same advice as the guys back home have been giving for our investments back there (my way of keeping tabs on things as well), so that is a little comforting. With the US dollar as it is we have a few more to ask this month and yes we are going to be protecting our profits because in the end they work or us and it is up to us to keep track and protect our investments, just like dispatch keeping a weather watch for us while we are enoute......
Cheers
Dooner
PS always open to other investment possibilities, providing cash is available!
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Experiences vary, but I had a positive experience with Skandia through HSBC. Sadly, the guy whom I first dealt with has left, and I think this becomes the problem. Any talent moves on to greener pastures quickly.
He was semi-aggressive but smart and we made some very high returns from China, India and Eastern Europe over the last few years. We got lucky and naturally because of our returns my association is positive with this company.
I have to agree on the salesmanship out there. It's really like selling any other product and the salespeople have a lot to gain and pilots are PERFECT targets.
He was semi-aggressive but smart and we made some very high returns from China, India and Eastern Europe over the last few years. We got lucky and naturally because of our returns my association is positive with this company.
I have to agree on the salesmanship out there. It's really like selling any other product and the salespeople have a lot to gain and pilots are PERFECT targets.
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I know a SPIV.
Works for OFFSHORE INVESTOR. His name is Brian Stoneman.
Extremely frugal with information.
Signs you up,transfers your pension from somewhere else,new pension company takes their fee cut, he takes 5 percent of whatever you have in there and sets up a quarter percent direct debit for himself, from your new pension fund per annum and you have absolutely no knowledge that this has happened!! Apparently it is for ONGOING FINANCIAL ADVICE!!!!
Remember the name!! he is waiting at a corner near you!!
BRIAN STONEMAN
OFFSHORE INVESTOR
BASED IN SHARJAH!!
Works for OFFSHORE INVESTOR. His name is Brian Stoneman.
Extremely frugal with information.
Signs you up,transfers your pension from somewhere else,new pension company takes their fee cut, he takes 5 percent of whatever you have in there and sets up a quarter percent direct debit for himself, from your new pension fund per annum and you have absolutely no knowledge that this has happened!! Apparently it is for ONGOING FINANCIAL ADVICE!!!!
Remember the name!! he is waiting at a corner near you!!
BRIAN STONEMAN
OFFSHORE INVESTOR
BASED IN SHARJAH!!
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blueside^
I think this is the site you were trying to link to.
It seems the Pprune site does not accept the link for some reason (maybe because it goes to a blog site and pprune does not allow that???).
Anyway, the web page is:
www "dot" emiratescapitalassetmanagement "dot" ******** "dot" com
You'll have to type it into your browser to get to the site.
I think this is the site you were trying to link to.
It seems the Pprune site does not accept the link for some reason (maybe because it goes to a blog site and pprune does not allow that???).
Anyway, the web page is:
www "dot" emiratescapitalassetmanagement "dot" ******** "dot" com
You'll have to type it into your browser to get to the site.
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Financial Advice
Use people your friends use, with a track record. DXB is the Wild West of money deals. Very Little regulation and fast moving advisors.
We use a fellow from South Africa that is advising at least one hundered other EK pilots, and doing it queitly and conservatively. Prior to this we were acosted by the fast and furious Deverre (sp) tag team.
Look for a past record and satisfaction from friends and colleagues. Good luck.
Also on topic, the EK provident funds I'm in are down; -1.6% over the last 12 months according to the Mondial site. Only 3 months ago I was at +18%.
Caveat Emptor.
We use a fellow from South Africa that is advising at least one hundered other EK pilots, and doing it queitly and conservatively. Prior to this we were acosted by the fast and furious Deverre (sp) tag team.
Look for a past record and satisfaction from friends and colleagues. Good luck.
Also on topic, the EK provident funds I'm in are down; -1.6% over the last 12 months according to the Mondial site. Only 3 months ago I was at +18%.
Caveat Emptor.
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I agree with the post about B.S. (apt initials). He is "high pressure", which makes me think that he is more concerned about himself, rather than your investments. I told him what I thought of him. If your product or service works, it sells itself. I also agree with your post about the South African.
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I think I probably use the same guys as dusty777, and agree with his remarks. I have used him for 6 years and would definately recommend him. PM me if you would like details.
Night tramp
Night tramp
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Investing advice
I suggest the Pope from SA. - doing well for several fellows in DXB for the last 5+ years I have known him.
I use him because of anothers recommendation and no complaints from any one I know. The funds have grown instead of shrink.
I use him because of anothers recommendation and no complaints from any one I know. The funds have grown instead of shrink.
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Don't ever rely on anyone else's advice regarding your money. It takes effort, but read lots or do a course on Property, Investments and Common sense and learn to invest your own money (radical I know). That way you'll :
a. Invest more wisely than any idiot that claims to offer you great returns on looking after your money (the only incentive he has is his %, which he generally makes irrespective of whether he makes money for you or not).
b. You can't blame anyone else if you don't make money. It's great oncentive to get it right - and you will
c. You'll earn more and feel greater satisfaction that you've made yourself rich
Good luck
a. Invest more wisely than any idiot that claims to offer you great returns on looking after your money (the only incentive he has is his %, which he generally makes irrespective of whether he makes money for you or not).
b. You can't blame anyone else if you don't make money. It's great oncentive to get it right - and you will
c. You'll earn more and feel greater satisfaction that you've made yourself rich
Good luck
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JJ this is the best financial advise I have ever heard here in PPRUNE and anywhere else honestly nobody can take better care of your money than yourself, guys be very vey careful with all the sharks out there they just want your hard earned $$$$ or DHs...
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Sound advice I agree, but not everyone has the time or ability. While these guys may be after a buck, surely that is why we all work.
I definately would not suggest following anyone blindly, do your homework first, as in any field there are loads of dodgy characters out there.
At the end of the day if you want someone to fly your familly from A-B, you get a pilot, preferably one with an ATPL and some experience. If you want someone to look after your money then get someone with equal quals and a track record.
Far too many stories of guys doing a fast track course in finance and then thinkng they are experts.
I definately would not suggest following anyone blindly, do your homework first, as in any field there are loads of dodgy characters out there.
At the end of the day if you want someone to fly your familly from A-B, you get a pilot, preferably one with an ATPL and some experience. If you want someone to look after your money then get someone with equal quals and a track record.
Far too many stories of guys doing a fast track course in finance and then thinkng they are experts.