# IFA looking to move to Dubai



## mooncat (Oct 7, 2008)

Hello all,

I'm sure you've heard this story before and I m sorry to bore you with the same old lines. But, here goes, I am a qualified Mortgage Adviser of 5 years and a soon to be newly qualified Financial Adviser. I have gained CF1 & CF2, also my securities paper from the SII and am expecting to pass CF3 & CF4 next week, so I will be a qualified Financial Adviser and Stockbroker.

My question is, will my new qualifications open any doors for me in Dubai, or will my lack of experience in those fields still hold me back. Also, I suppose an add on to that question is are there still any opportunities in the financial sector over there and what are the likely salaries.

I am a 37 year old single male and very sales focused in my day to day working life.

Any help/advice will be greatly appreciated

Chris.


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## mooncat (Oct 7, 2008)

bump..........


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## wikkid (Mar 13, 2008)

Hi Mooncat,
I thought i'd let others answer, but since thats not happening i will give you my view. I am still UK based IFA with 5 years experience having been a stockbroker with a large broker prior to that - all on top of an Honours degree in Economics. I have been looking into moving to Middle east, but yet to make the move. Firstly, i would think that your experience will be your biggest challenge, even though you will be qualified your experience is very little. Would you be able to give good advice on tax planning for expats for example? On the investment side, the basic exams are exactly that - basic, asset allocation, fund choice and wrapper choice are all very important and knowledge can only be gained from experience.
I am currently working towards the CII diploma (only 1 to go) and it has taken me the last 5 years to really know the job and give good advice. If i were you, i would get a trainee job in a decent IFA and start working with the lower end of the client bank and work towards the HNW end as you gain experience and learn from other advisers before trying to move abroad where you will likely be self employed and almost on your own trying to learn and earn at the same time (where earning will take precedence every time). 

Sorry if this sounds like a parent speaking, but i am your age but know how well clients listen if you can give then confidence that you know what you are talking about.


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## Elphaba (Jan 24, 2008)

As an IFA who has been working in Dubai for a few years (with many, many years experience and a stack of qualifications) I can tell you this is a hard market. Most roles are self-employed and you usually need to find your own clients. You need to be an experienced self-starter to get anywhere.

I have seen too many people come out with high expectations, only to fail and return to an employed role in the UK.

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## mooncat (Oct 7, 2008)

Hi Wikkid, Elphaba,

Thanks for the replies. I am working as a trainee at the moment for Edward Jones, they are putting me through my exams and then helping me start up my own local office building a client base up from scratch, bit daunting but hopefully the rewards will be there in the long run.

As I thought and you have confirmed there is no substitute for experience. I was hoping there may be similar trainee roles in Dubai but evidently not. Looks like a move may have to wait a few years.

It was a friend moving over there that put the thought in my head, he is heading out at the end of the month after only applying a week ago for a media role, a bit sudden but he is obviously excited.

I have told him about this forum and I am sure he will be using it very soon.

Once again thanks for the advice, and not parent like at all, just common sense.


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