A financial advisor is a financial expert who understands your economic situation and helps you achieve your commercial goals. A financial advisor analyzes your financial position and comes up with a fitting investment plan that suits your current needs. Based on our research conducted in 2021 by our financial analytics team, the most common reasons why UAE investors hire financial advisors are: retirement planning, tax planning, second citizenship solutions, offshore banking, wealth accumulation, family protection, and real estate investments.
In this guide, we go over the best financial advisors in UAE and help you find your own one.
Not Sure When To Contact a Financial Advisor? Here Are Some Of The Most Common Reasons For UAE Citizens
- Retirement Planning – Financial advisors can help you with your retirement planning. They provide multiple options and products to help you retire stress-free.
- Money Management Advice – Financial advisors can assist you in how to manage your money more efficiently. This can be done by investing in real estate, the financial markets, clearing debts, opening high-yield savings accounts, and other methods.
- Tax Planning – A financial advisor can assist you with tax-efficient investment strategies.
- Second Citizenship Solutions – Financial advisors can provide you with second citizenship solutions that don’t require traveling or marrying. You can obtain citizenship in certain countries through investing.
- Offshore Banking Solutions – If you want to keep your savings in a different country than where you are living, financial advisors can assist you with this.
- Family Protection – Financial advisors can aid you with life insurance and other forms of estate planning to keep your family’s financials safe in case something happens to you.
- Offshore Real Estate Investments – A financial advisor can help you invest in real estate outside of the UAE without having to leave the country. You can buy, sell, and rent out properties via them.
- Investment Portfolio Management – Financial advisors can help you manage your investment portfolios and trade the markets on your behalf.
How To Know Which Type Of Financial Advisors Is Right For You?
There are robo-advisors, online planning services, and traditional in-person financial advisors. The section below breaks down all of the different types of financial advisors and how to choose the right for you.
Read our full guide about how to choose a financial advisor in UAE.
Robo-advisors are automated trading programs that use algorithms to set up and manage your investment portfolio. They are cheaper than in-person financial advisors but can only trade the financial markets for you.
2. Online Financial Planning Services
Online financial planning services provide investment management solutions based on your personal financial goals. You will speak with professional financial advisors via video meetings, which is cheaper than hiring a personal financial advisor that you meet in person. The advantage of this compared to Robo-advisors is that you will receive personal financial advice. Some online financial planning services also offer Robo-advisors to complement their services.
3. Traditional In-person Financial Advisors
Wealth managers, registered investment advisors, brokers, and CFPs fall under this category. Wealth managers provide financial management services for high-net-worth individuals. Registered investment advisors offer financial advice, including investment portfolio advice, on a commission basis. Brokers buy and sell financial instruments on your behalf on a commission basis and are registered with regulatory bodies like the Dubai Financial Services Authority. CFPs are financial advisors that are certified by the Financial Planner Board of Standards and have followed extensive education in finance and passed exams in this field.
How to Select a Financial Advisory Firm
Answer the following questions to pick the best Dubai financial advisory firm for your needs.
1. What services do you need?
You must determine what kind of services would help your financial life. You need to explain your money management requirements and your financial goals to your advisor. Look at your financial needs, and choose the best services.
2. How much does it cost?
Financial advisory firms don’t have a universal fee structure. Fees depend on the services and products they offer. Financial advisors in Dubai might take advantage of you when offering commission-based products. We recommend that you think about your own best financial interest.
3. Can you trust the financial advisor?
Ensure that your financial advisor is trustworthy. Check their credentials before signing up. Look for reviews online so you know that you make the best choice.
How much do financial advisory services cost in UAE and Dubai?
UAE and Dubai financial advisory firms offer a range of services at different prices. A client’s needs and assets determine the costs.
Financial advisors sell investments or financial products and receive payments via commissions. Firms manage assets and charge a fee. Dubai financial advisors have flat fee subscriptions for advisory services. Hourly rates are also available.
We made this table for you to understand how a financial advisory firm charges for its services. Rates will vary depending on the financial advisor you choose.
|Different Fee Structures||UAE Rates|
|Commission-Based Fees||3% to 5% – per year for insurance products|
0.25% to 1% – per year for mutual funds
1% to 4% – per year for annuities
|Assets Under Management Fees||1% to 2% – per year depending on the client’s net assets|
|Flat Annual Fees||7000 AED to 28000 AED on retainer|
|Hourly Rates||700 AED to 1500 AED|
Here Are Our Best Rated Financial Advisors in UAE
We have compared 76 financial advisors offering their services in UAE and weighted their overall performance in 6 different categories. We measured all aspects of their service including fees, reputation, expertise, online reviews, knowledge, and background. Based on our findings, these are the best financial advisors in UAE:
1. Holborn Assets
Holborn Assets is a leading financial advisory company in Dubai. It provides independent solutions for clients by creating the right investment portfolios. The firm has international offices. The team of certified financial planners satisfies clients with tailor-made financial solutions.
2. Finsbury Associates
Finsbury Associates is a Dubai based financial and wealth management firm. It is a CISI qualified financial advisor that provides custom financial solutions. The UAE Insurance Authority licenses the firm, and it has License 92. Finsbury Associates only employs qualified advisors. Its customized approach attracts widespread recognition and awards.
Mondial uses the motto “Slow and Steady Wins the Race” in financial planning. The Securities and Commodities Authority (SCA) regulates the firm. Mondial is the oldest established financial advisory firm with CISI certified advisors in Dubai. Its advisors create financial solutions to meet your goals.
Mondial is regulated by the Emirates Securities Commodity Authority.
4. AES International
AES International is a team of financial advisors that help their clients with investment decisions. In 2011 it was Britain’s fourth fastest-growing business and today it operates globally. AES International is regulated by the UAE Insurance Authority and registered with the Dubai International Finance Centre and the UAE Ministry of Economy.
5. Skybound Wealth Management
Skybound Wealth Management provides lifestyle financial planning to clients worldwide. They offer customized wealth management solutions to the clients by considering even the smallest detail. The solutions provided are transparent, simple and within the budget. The award-winning advice provided by Skybound Wealth Management gained them a wide range of recognization all over the world.
It is regulated by the United Arab Emirates Insurance Authority, the Securities and Commodities Authority, and the UK Financial Conduct Authority.
Year Est: 2000
Services: Retirement Planning, Financial Planning, Investment Planning
Address: Unit 301, Opal Tower, Business Bay, Dubai
Phone: +971 4 450 9700
Email: [email protected]
You now know that financial advisors fall under the three categories robo-advisors, online financial planning services, and in-person financial advisors, what the best financial advisors in UAE are, and what they can offer you. We recommend assessing your personal financial situation and goals before consulting a financial advisor.
- 0.1 Not Sure When To Contact a Financial Advisor? Here Are Some Of The Most Common Reasons For UAE Citizens
- 0.2 How To Know Which Type Of Financial Advisors Is Right For You?
- 0.3 How to Select a Financial Advisory Firm
- 0.4 How much do financial advisory services cost in UAE and Dubai?
- 1 Here Are Our Best Rated Financial Advisors in UAE
- 2 Conclusion