# Inquiry re financial advisor (Pic)



## Hassli (Feb 7, 2011)

Hi, Any first hand experience about the above-mentioned company? https://www.pic-uae.com/about/AboutUs.aspx. Are they good? Do they have good resources to find their clients the right product/investment? Thanks, Hassli


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## Gavtek (Aug 23, 2009)

They're the biggest bunch of crooks in in the Middle East, very few of their advisors are qualified. Avoid.


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## Hassli (Feb 7, 2011)

Gavtek said:


> They're the biggest bunch of crooks in in the Middle East, very few of their advisors are qualified. Avoid.


Good thing i have asked this question in this forum.

Thanks for this information.


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## msbettyboopdxb (Mar 22, 2009)

Did I see devere group in there? Run like the wind my friend. Run.........


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## INFAMOUS (Apr 19, 2011)

I know people who have invested with them for many years without any issues and made pretty good returns. I guess it depends on how "risky" you want to make your investment. Maybe they lucked out and got good advisers? I definitely wouldn't put all my eggs in one basket regardless!


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## Gavtek (Aug 23, 2009)

A broken clock is right twice a day.

They sell you the products that give them most commission (because in most cases, they don't get a basic salary, their remuneration is 100% commission). Any return you get is pure coincidence/luck.


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## Crabberz (Jun 9, 2012)

...............just wanted to say we have had an excellent service from PIC as have a couple of other people I know................so I personally would recommend them.........we were given many choices regarding our investment.......we researched all and chose ourselves, we weren't pushed into any one of them............they are a very large company who are bound to have the odd consultant working there only interested in their own commissions..............show me an investment company that doesn't?!!


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## Roxtec Blue (Jan 14, 2013)

Crabberz said:


> ...............just wanted to say we have had an excellent service from PIC as have a couple of other people I know................so I personally would recommend them.........we were given many choices regarding our investment.......we researched all and chose ourselves, we weren't pushed into any one of them............they are a very large company who are bound to have the odd consultant working there only interested in their own commissions..............show me an investment company that doesn't?!!


Just a thought. If you researched all and chose yourselves why did you need them and pay the fees?


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## Crabberz (Jun 9, 2012)

Roxtec Blue said:


> Just a thought. If you researched all and chose yourselves why did you need them and pay the fees?


..............errmmm, their help was invaluable at putting all the jargon into 'layman's terms', making it all a lot easier to understand........and it hasnt cost us, they got their commission from the company we went with.............


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## Fat Bhoy Tim (Feb 28, 2013)

DeVere, PIC, Holborn, Global Eye, to name but a few ... basically anyone based out here.


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## Fat Bhoy Tim (Feb 28, 2013)

Crabberz said:


> ...............just wanted to say we have had an excellent service from PIC as have a couple of other people I know................so I personally would recommend them.........we were given many choices regarding our investment.......we researched all and chose ourselves, we weren't pushed into any one of them............they are a very large company who are bound to have the odd consultant working there only interested in their own commissions..............show me an investment company that doesn't?!!


None of these firms are IFAs, they sell their own products investing in themselves- i.e. broker backed investments. 

They fail, your investment goes with it.


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## INFAMOUS (Apr 19, 2011)

Crabberz said:


> ...............just wanted to say we have had an excellent service from PIC as have a couple of other people I know................so I personally would recommend them.........we were given many choices regarding our investment.......we researched all and chose ourselves, we weren't pushed into any one of them............they are a very large company who are bound to have the odd consultant working there only interested in their own commissions..............show me an investment company that doesn't?!!


Is something wrong with your period "." key? :ranger:


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## msbettyboopdxb (Mar 22, 2009)

What's the deal with 10,000 periods after every sentence?


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## RossW (Jul 24, 2013)

Fat Bhoy Tim said:


> DeVere, PIC, Holborn, Global Eye, to name but a few ... basically anyone based out here.


Hi Tim,

Not that I've met anyone who works for Holburn but from what I've been told they're a decent company. The others you mentioned all I've heard is bad stuff lol.

Cheers

Ross


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## msbettyboopdxb (Mar 22, 2009)

Gavtek said:


> They're the biggest bunch of crooks in in the Middle East, very few of their advisors are qualified. Avoid.


Gavtek, what about Nexus?


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## Gavtek (Aug 23, 2009)

msbettyboopdxb said:


> Gavtek, what about Nexus?


Never heard of them, so absolutely no idea.

If they have called you up out of the blue, then avoid.


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## msbettyboopdxb (Mar 22, 2009)

Gavtek said:


> Never heard of them, so absolutely no idea.
> 
> If they have called you up out of the blue, then avoid.


So do you manage your own investments or is there a company you would recommend?


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## Crabberz (Jun 9, 2012)

To Msbettyboopdxp, please accept my apologies, I didn't realise I was dealing with the grammar police. I will in future make all my posts grammatically correct, oh, and where I come from, I think you'll find it is called a full stop.


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## Fat Bhoy Tim (Feb 28, 2013)

msbettyboopdxb said:


> Gavtek, what about Nexus?


If it's the Nexus I believe it is, then they're legitimate insurance/investment brokers. 

They were the sales arm of Zurich before they were spun off in a management buy-out, about 7/8 years ago.


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## msbettyboopdxb (Mar 22, 2009)

Fat Bhoy Tim said:


> If it's the Nexus I believe it is, then they're legitimate insurance/investment brokers.
> 
> They were the sales arm of Zurich before they were spun off in a management buy-out, about 7/8 years ago.


Thanks.


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## Filipoberio (Aug 1, 2013)

Hi Guys since a few appear to of had some experience with IFA or Brokers in the UAE was hoping you could help. I work in the UK at the moment as a Financial Consultant looking to come to Dubai, i have an interview with Acuma tomorrow and was wondering on general feeling towards them? Im just shy of 30 and if this interview goes well planning on moving my wife and son out and dont really want to be sold a dream of them 'doing the right thing for the client' if actually they just want to sell, ive already worked for a company like that in the UK and left sharpish..i prefer sleeping at night!
any idea as to who the more reputable firms are?
thanks


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## Mr Rossi (May 16, 2009)

Filipoberio said:


> i have an interview with Acuma tomorrow and was wondering on general feeling towards them?


A quick google reveals who the holding company are and I'd keep looking to be honest. I'd certainly hold off bringing out the wife and kids.


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## Stevesolar (Dec 21, 2012)

Mr Rossi said:


> A quick google reveals who the holding company are and I'd keep looking to be honest. I'd certainly hold off bringing out the wife and kids.


Wow - i was offered the earth by the holding company that now own Acuma.
Can you imagine turning them down after doing some google reasearch - then joining a company like acuma that have an excellent reputation, then finding out that Acuma now has new owners!
What a nightmare that would be!!
Cheers
Steve


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## Filipoberio (Aug 1, 2013)

Thanks Mr Rossi, I know De Vere have literally bought them out last month which has severely put me off, I had read in a few places Acuma seem to have quite a good reputation though, so this is a little deflating and if they head that way it can't be good news!
I've read a few threads on this forum it seems Financial Advisors on the whole seem to be a touch untrustworthy out there! 
Think ill have to change professions!


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## RossW (Jul 24, 2013)

Don't go there, the holding company have the worst reputation out here. Make sure the company you go with gives you a visa and does not have a bad reputation.

Regards

Ross


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## Filipoberio (Aug 1, 2013)

They have already verbally offered me what appears to be quite a good package, flights, visas, medical and a relocation budget which is negotiable but as Steve has mentioned I'm sure the new management could well filter down.
Hmm back to the drawing board. 
Thanks


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## Filipoberio (Aug 1, 2013)

Steve are you a Financial advisor?


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## Filipoberio (Aug 1, 2013)

Ross I got your PM thank you but don't seem to be able to reply...just getting my posts over 5 then I should be able to but yes I am keen
Cheers


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## Stevesolar (Dec 21, 2012)

Filipoberio said:


> Steve are you a Financial advisor?


No but last year, when we decided to move to dubai - it was my wife that got a job here first.
Once she had signed her contract and we had a moving date - i put my CV on a number of recruitment sites.
Within a few hours i received a call from a pleasant lady in Malta.
She had reviewed my cv and noted that i was a sales manager with particular experience of starting and developing sales departments from scratch (i have actually done this 4 times during my career).
I explained that i specialised in very technical products - but this did not put her off.
The company and package sounded attractive, along with the offer of full training.
I was invited to an interview in london and was sent some email information.
It all sounded too good to be true - so google was my friend!!
In the end, we arrived in Dubai last December and after a few months of looking, i found exactly the job i wanted - in the correct market sector for my experience!!
Cheers
Steve


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## Filipoberio (Aug 1, 2013)

Ah right, yes I've spoken to that lady in Malta as well she did seem far too nice...they always conveniently have someone popping over to the UK in the next few days who would love to meet you(been spun that line 3 times by separate companies this year)

Google is actually putting me off coming out as an FA. Seems there are so many bad ones put there, worse than general opinion of the banks here in the UK. 
Hope your enjoying life in the sunshine though !

Phil


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## Stevesolar (Dec 21, 2012)

Filipoberio said:


> Ah right, yes I've spoken to that lady in Malta as well she did seem far too nice...they always conveniently have someone popping over to the UK in the next few days who would love to meet you(been spun that line 3 times by separate companies this year)
> 
> Google is actually putting me off coming out as an FA. Seems there are so many bad ones put there, worse than general opinion of the banks here in the UK.
> Hope your enjoying life in the sunshine though !
> ...


Dubai needs good financial advisers like it needs good estate agents.
The problem is that the market is not mature and it is unregulated.
When you get a concentration of high net worth individuals in an unregulated market - there is always going to be the potential for chancers to try their luck!
Hope you find something suitable.
Cheers
Steve


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