Business

In the UAE, one of the world’s most attractive destinations for high-net-worth individuals, over 800 UK-based expats are expected to relocate to the country this year alone. As Dubai and other UAE cities continue to draw international professionals with their high quality of life, low taxes, and ample job opportunities, these individuals face complex financial decisions that require expert advice.

But is working with a financial adviser truly worth it, and where does their value lie?

The Financial Advice Proposition: More Than Just Numbers

Studies have shown that individuals who engage with financial advisers are often significantly better off when they retire, with an average of US$57,000 more in retirement savings than those who don’t use advisers, after fees. But financial advice offers more than just increased financial returns; its true value lies in a professional’s ability to assess your circumstances and provide personalized strategies that match your life goals.

St. James's Place Middle East (SJP), with over US$238 billion in assets under management and nearly one million clients globally, follows a plan, design, and review methodology to financial planning, helping clients align their investments with their long-term objectives.

The Process: Plan, Design, and Review

1. Planning:
   The first step involves clearly defining a client’s goals. Whether it’s for retirement, tax planning, or wealth preservation, a skilled adviser works with clients to set achievable targets based on their individual needs.

2. Designing Investments:
   Once goals are clear, SJP assists in designing and selecting investment strategies that align with those objectives. This involves evaluating risk-return profiles, the client's desired retirement date, and potential market scenarios. An adviser’s ability to prevent impulsive decisions, such as chasing fleeting stock trends, can also save clients from financial losses.

3. Reviewing and Adjusting:
   Financial needs are dynamic, and an adviser’s role doesn’t end after the initial meeting. SJP regularly reviews clients' financial strategies, adjusting plans to reflect life changes such as marriage, inheritance, or career transitions.

The Intangible Benefits of Financial Advice

Peace of Mind:
Working with a financial adviser can alleviate the stress of managing complex financial tasks like tax planning, retirement strategies, and investment allocations. For many expats relocating to the UAE, the financial uncertainties surrounding moving can be daunting. A trusted adviser offers the confidence to navigate these challenges seamlessly, offering tailored advice as life circumstances evolve.

Security and Longevity:
In today’s world, where people are living longer lives, ensuring financial security in retirement is more important than ever. With government budgets under strain to support ageing populations, personal financial resilience is key. A trusted adviser can provide the support needed to maintain financial security throughout retirement, as well as create strategies to leave a lasting legacy.

Advising Through Life’s Changes:
Life events such as marriage, inheritance, health issues, or career shifts are often triggers for seeking financial advice. Having a financial adviser before these significant events can give individuals the confidence and planning needed to face these challenges head-on.

A Trusted Partner

As Daniel George, Head of Business at St. James's Place Middle East, explains, advisers are there to help clients secure their financial futures.
“You're there to take that worry away from them so they can look after their families and secure their futures.”

Financial advice isn’t just about managing assets; it’s about navigating the ups and downs of life with expert guidance to ensure that clients can achieve their broader life goals. For many, this sense of security is priceless.

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