Millsyisland

Interesting article in the National on supposed new regulations proposed, but will they ever actually be introduced and will it make any difference?

UAE residents being locked in poor-value investment plans | The National

I know the lady in the example given so it's not just made up to give weight to the issues.

Are the days of the phone calls from the 'Alright mate, how're you doing?' cowboys numbered?

scrubbedexpat141

I'm sure people can find a way round any of these regulations and I'm definitely sure there will be people willing to part with their cash.

Tightening is never a bad thing though.

Meow

It is expected that the new rules will be in place by the start of 2019 and I am looking forward to it. It will happen but the original period suggested wasn't viable hence the longer lead in time. The offshore insurance companies will have to create new, and better, products and that can't be done overnight.

I loathe the 20/25 year plans that are flogged by the sales sharks and we are likely to see many of those leave. Not that they provide any kind of proper ongoing service now anyway.

My business model is not based on flogging those plans, rather I do much more family protection and fee based fund management and have done for years.

Many of the cowboys are already panicking.


EDIT > They may call themselves advisers but they are salespeople. They don't provide advice. There is a difference.

Millsyisland

Good!