# Financial Services in Dubai



## Willsy1 (May 26, 2009)

Hi All.

I have recently come by this site and I wondered whether anyone could give me some guidance. I have an interview in a couple of days for a Broker Consultant role with a top 3 Provider in Dubai. I have done the job in the UK for 10 years, but really fancy a change.

What advice would you give someone looking to change, and what qualities would you think are most important?

I really appreciate any assistance and you never know, I might be calling on you in the future if you're in this industry!


----------



## Elphaba (Jan 24, 2008)

Willsy1 said:


> Hi All.
> 
> I have recently come by this site and I wondered whether anyone could give me some guidance. I have an interview in a couple of days for a Broker Consultant role with a top 3 Provider in Dubai. I have done the job in the UK for 10 years, but really fancy a change.
> 
> ...



For a major insurance company? Which one?

I deal with all of them on a regular basis.

-


----------



## Willsy1 (May 26, 2009)

Elphaba said:


> For a major insurance company? Which one?
> 
> I deal with all of them on a regular basis.
> 
> -


Hi Elphaba.

I've seen that you comment on most Financial Services questions, so thanks for responding to me. The interview is later today and it's for Royal Skandia. What's your perception of them?

Thank you.


----------



## Elphaba (Jan 24, 2008)

Willsy1 said:


> Hi Elphaba.
> 
> I've seen that you comment on most Financial Services questions, so thanks for responding to me. The interview is later today and it's for Royal Skandia. What's your perception of them?
> 
> Thank you.


Decent company and one of their top broker consultants (who called on my company) has recently left. Service OK and I rate many of their products, particularly their regular savings plan as unlike most others in the offshore market there is no initial period.

Have you worked in the offshore market before?

-


----------



## Willsy1 (May 26, 2009)

Thank you. That's the role I'm applying for! I sell a lot of Offshore Bonds in the UK, but I have only dealt with UK IFAs previously. I understand that you could be a double glazing salesman one day, and an IFA the next as there is no regulation. (not all IFAs though!)

Other than the obvious differences (culture & weather) what advice would you give me for considering the move?


----------



## Elphaba (Jan 24, 2008)

Willsy1 said:


> Thank you. That's the role I'm applying for! I sell a lot of Offshore Bonds in the UK, but I have only dealt with UK IFAs previously. I understand that you could be a double glazing salesman one day, and an IFA the next as there is no regulation. (not all IFAs though!)
> 
> Other than the obvious differences (culture & weather) what advice would you give me for considering the move?



Sadly that is true and there are a lot of unqualified cowboys - speaking as an IFA who was UK authorised for 15 years, plus AFPC qualified  I work with the only company where all the consultants have at least the CFP.

The market here is not overly complicated - well not from your side - and you just need to know your products well and be prepared to 'hand hold' inexperienced salespeople. It can take a long time for matters to be tied up and too many people think it normal to give you the run around.

Dubai is great and frustrating in equal measures. I'd always suggest a visit here before making a final decision, as it is not for everyone.

Good luck and let me know how you get on. 

-


----------



## Willsy1 (May 26, 2009)

I really appreciate the time and I knew you weren't amongst the "cowboys"! If I'm successful I know it would be a great opportunity so I will be doing all I can to get the job. A friend works for Friends Prov in Dubai and he can't envisage ever coming back to the UK.

Maybe see you in the future and I will keep you posted...

Thanks again.


----------



## Willsy1 (May 26, 2009)

Hi Elphaba.

The interview went well, and they are drafting a short list in the next couple of weeks, which I should be on! 

Has the market in Dubai been affected much by the Economic downturn? A good friend has told me that people are leaving Dubai in droves because the economy there is worse than the UK or US. Would you agree with that statement? 

Regards.


----------



## Elphaba (Jan 24, 2008)

Willsy1 said:


> Hi Elphaba.
> 
> The interview went well, and they are drafting a short list in the next couple of weeks, which I should be on!
> 
> ...


Well done. 

We have been affected here as much as the UK has been and many have either left or will be leaving in the summer. People are still being made redundant. That said, plenty of people are doing well and for example, I can hardly keep up with the new client enquiries.

The streets aren't paved with gold, but it isn't all doom and gloom.


----------



## Willsy1 (May 26, 2009)

That's brilliant news for the ones that will survive (yourselves included). The UK will be exactly the same once "RDR" comes in and the industry will be completely different post 2012. 

Yours and others postings on this forum have been so helpful both for myself and anyone considering moving to Dubai. The best thing I'm looking forward to is getting my wife to be nice to me so she can a) work b) drive and c) get the beers in if I sponsor her!! 

In all seriousness, even if I am unsuccessful in this role, we are adamant that we want to live in Dubai to provide a better future for our young son, and I would look at an advising role with an IFA out there.

Thanks again.


----------

