lostinbahrain111

Hi all,

I'm looking for some assistance.
I have been in the Middle East for 3yrs now and have reached the point where I need to get serious about my finances and investments.

I do not have a pension in the UK but wish to start one.
A SIPP is not an option as a non UK resident and not having a pension eliminates QROPS.
What are the options and are there and decent (and regulated) firms that anyone is doing business with while based out here.
I plan on being away from the UK indefinitely but I'm really struggling to find some good advice.
There are so many negative comments on financial companies and advisors in the region it is making me very nervous.

Many thanks in advance

Meow

*waves*

Take a look at the link in my signature line below.

scrubbedexpat141

Norm_uk

If you're in Abu Dhabi I'd suggest speaking to me, I'm qualified and experienced, and work for one of the most licensed firms in the country.

If you're in Dubai I'd recommend contacting Meow even though she's with a different company to me she's experienced, qualified and puts her clients needs first.

N.

Blue Cat

Meow is my personal IFA, I recommend her

BinCat

Are up there for the 'most annoying' award! They never stop cold calling, despite being told they'd get a fe****g Irish letter b*mb through their windows if they didn't stop!!!!! Hate them, hate them, hate them.

flares

It's a BE carve up between Mr. Norm and Ms. Meow.

He does Abu D, she does Dubai (not in the 'Debbie does' context there).

Rock paper scissors for Al Ain.

scrubbedexpat141

Isn't Al Ain the AD emirate?

Or are we hoping for a fight to the death for Al Ain, Northern Emirates and the Western Region?

Millhouse

just agree to meet them and don't show up. it's no biggy

Norm_uk

Technically it is but I haven't marked my territory there. We have gang signs and everything - it's very competitive

N.

freewifiavailablehere

I would be very vey careful of which so called 'IFAs' you trust here. Many were failures in the UK and reinvent themselves here to newly monied Brits etc.

I have a friend (really not me!) who lost about 30k dealing with these people. Go for ones personally recommended, people who have dealt with them a long time. Do not go with strangers, ones who solicit clients off the web etc. Good ones don't need to do that.

If in doubt, don't don't don't invest.

Check some out in the UK when you are home, think REGULATION. In the UAE there is little to none!!!!

Meow

This is all true, but I have never 'solicited off the web'. I am known to many posters and unlike some I was a successful - and highly qualified - IFA for many years in the UK and moved here as part of a mid life crisis.

UK based IFAs are generally not authorised to advise expats and cannot access the appropriate offshore products that many require. There is certainly far too little regulation here and I say this on radio and in the press all the time. That said, there are some well qualified (by which I mean rather more than a few entry level exams), professional and ethical IFAs here and we aren't that hard to find.

My tip would be to run away from anyone who cold calls, ask about experience, qualifications and check people out. The internet is a wonderful tool for that. Being pushy, desperate to sell, not providing proper written reports and only interested in flogging a long term savings plan are other warning signs. As is anyone who doesn't emphasise the importance of suitable portfolio construction (and actually understand this) and ongoing servicing. If in any doubt, do not take their' advice'.

I must have spent hundreds of hours over the past few years trying to 'fix' lousy plans that people have been sold.

scrubbedexpat141

I did that but it almost backfired. Bloke then rang and said he had the documents and needed my signature to start the pension/savings thing.

Took a bit of convincing and eventually me admitting I booked the meeting but didn't show up.

Meow

He wanted you to sign an application form the first time you met?? Bloody charlatan.

scrubbedexpat141

Are you actually, genuinely surprised?