# Acuma Financial Advisors



## Filipoberio

Hello!

Im considering re locating to Dubai with my wife and son. I am a Financial Advisor currently based in the UK. We have been considering re locating for some time and I have been approached by a recruitment company for a position working for Acuma.

I cant find much on the internet about the company but I have read that they have recently been bought out by the De Vere group who don't have a great reputation in the world of finance, more car salesmen then Financial Advisors!

Has anybody had any dealings with Acuma? Also is there a big need for Financial Advice within Dubai? I don't want to move my family out and find out I've been sold an idea which doesn't exist!

Also if anyone does know of any other reputable Independent Financial Advisor set ups that I consider working with

Thanks in advance


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## Gavtek

martinmeijer said:


> I do all my own cold calling


How do you look in the mirror without wanting to punch yourself in the face?


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## Yorki

There must be loads of Financial Advisors in Dubai I get called everyday with them offering free advice....pain in the butts...


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## vantage

Never hire ANYONE off a cold call. On principal.

Bloodsucking leeches.
Do your research, take personal recommendations from those you trust, research again, Then you call THEM.

I prefer to pay a fee for my Financial Advice.
Anyone who claims to offer impartial advice, regardless of codes of ethics, when they are working solely for commission is definitely lying to you, and probably themselves as well.

And they probably wear a shiny footballers suit too...


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## dizzyizzy

On that note anybody knows how can I get my data off the Devere's marketing list? Have asked them numerous times to delete them but I keep getting unsolicited phone calls from them. So annoying.


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## Gavtek

I just save every number that cold calls me under a contact called "IGNORE" on my phone so when they inevitably ring back, I don't need to waste my time answering.


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## Jumeirah Jim

What Gavtek said but seems "everything" they recruit is asked to call me. They get very short shrift when I'm in a good mood. If they catch me in a grumpy mood I had better not repeat here what I say. 

To the OP Devere are most likely the most hated "FAs" (note not IFAs) in the UAE. 

Steer well clear!!!


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## BedouGirl

dizzyizzy said:


> On that note anybody knows how can I get my data off the Devere's marketing list? Have asked them numerous times to delete them but I keep getting unsolicited phone calls from them. So annoying.


I threatened them with the police years ago, never heard from them since. I managed to get hold of the number of the only landline they had in their office at the time and called them. It was an absolute blast!! Hehe. Sorry, doesn't help you much I know but it tickles me every time I think about it, even though it was such a long time ago....


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## Yorki

I've saved the numbers as T***ers and don't answer.

I asked one of them where they got my number from. "my boss gave it to me" "ok where did your boss get it from" "I don't know..." you can see why they are into called calling....


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## martinmeijer

Gavtek said:


> How do you look in the mirror without wanting to punch yourself in the face?


Because i am qualified, honest and professional. Cold calling is a necessary evil if someone does not want to meet then that's one off the list and i do not pester them. You cannot survive on referrals alone. I guarantee you won't have enough money when you retire or if you do you will be taxed on it and when that happens you can punch yourself in the face.


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## Gavtek

martinmeijer said:


> I guarantee you won't have enough money when you retire


Oh look, a financial advisor who thinks he can see into the future. How unusual.


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## Peterf

Gavtek said:


> Oh look, a financial advisor who thinks he can see into the future. How unusual.


Yeas, but want to do it with OUR money


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## martinmeijer

Gavtek said:


> Oh look, a financial advisor who thinks he can see into the future. How unusual.


I am sorry that you have had such bad experiences with advisors. Its a known fact that most people do not save enough for their retirement. i am only here to help which is what i was trying to do when answering the original question. You do not know me and your reply was rude.


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## vantage

martinmeijer said:


> . I guarantee you won't have enough money when you retire


There's nothing professional or honest about that statement.


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## martinmeijer

vantage said:


> There's nothing professional or honest about that statement.


Yes you're right. He upset me and i over reacted. i Didn't realise how rude people can be in this forum


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## dizzyizzy

martinmeijer said:


> Yes you're right. He upset me and i over reacted. i Didn't realise how rude people can be in this forum


Normally they aren't! Is just that unfortunately your line of work has a very bad reputation in the region and must of us have been pestered non stop with unsolicited phone calls from your colleagues, making us despise the whole lot of them


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## bcsint

*Dubai*

Having lived and worked in Dubai in the finncial sector, I would say it is very over broked and most expats would agree by virtue of the continouos calls and marketing they receive. There are far better areas within the offshore sector that you can go to and live a better lifestlye and earn a higher income






Filipoberio said:


> Hello!
> 
> Im considering re locating to Dubai with my wife and son. I am a Financial Advisor currently based in the UK. We have been considering re locating for some time and I have been approached by a recruitment company for a position working for Acuma.
> 
> I cant find much on the internet about the company but I have read that they have recently been bought out by the De Vere group who don't have a great reputation in the world of finance, more car salesmen then Financial Advisors!
> 
> Has anybody had any dealings with Acuma? Also is there a big need for Financial Advice within Dubai? I don't want to move my family out and find out I've been sold an idea which doesn't exist!
> 
> Also if anyone does know of any other reputable Independent Financial Advisor set ups that I consider working with
> 
> Thanks in advance


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## Mr Rossi

The phone calls I can live with. 

It's the lies, cons and the lives they ruin I have a problem with.


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## Bigjimbo

martinmeijer said:


> Yes you're right. He upset me and i over reacted. i Didn't realise how rude people can be in this forum


Welcome to the real world. People in this forum are just a touch more honest then they are face to face. Fact is you work in a field littered with semi criminal people behaving in an immoral way. You want to appear different and have people actually do business with you from this forum then actually do something to help or just be yourself. I should know as I worked in real estate out here, and now sell cars! Not two professions known for their integrety yet I have met some people from here and done some business...............

Assuming you know anything about anyone on here is naive at best and terribly rude and arrogant at worst. Not a good advert.


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## DanWatson3

In Martin's defense it can be frustrating when people assume see you as a part of the problem rather than an individual who may well genuinely have good intentions to heart.

I used to sell cars too and the way people can look and judge you when they find out your job can be as BigJimbo put it "rude and arrogant"

Unfortunately people are too quick to judge on the whole.


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## Canadian_Expat

In case the OP actually wanted someone to answer his question...

I am a client of Acuma's, and I would recommend them. They refuse to cold call, and they give you honest advice rather than trying to sell you things they don't need. I've been happy with them, and so have several of my friends.

Based on my dealings with them, I would assume it's a nice place to work. If you reply on cold calling for business though, it may not be the place for you.


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## Bigjimbo

Canadian_Expat said:


> In case the OP actually wanted someone to answer his question...
> 
> I am a client of Acuma's, and I would recommend them. They refuse to cold call, and they give you honest advice rather than trying to sell you things they don't need. I've been happy with them, and so have several of my friends.
> 
> Based on my dealings with them, I would assume it's a nice place to work. If you reply on cold calling for business though, it may not be the place for you.


Was this before De Vere took them over? If so you should put a call into your broker and see how your investment is doing...


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## Canadian_Expat

Just met with him, and things are great. Thanks.


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## azzy100

Hello!

Im considering re locating to Dubai with my wife and son. I am a Financial Advisor currently based in the UK. We have been considering re locating for some time and I have been approached by a recruitment company for a position working for Acuma.

I cant find much on the internet about the company but I have read that they have recently been bought out by the De Vere group who don't have a great reputation in the world of finance, more car salesmen then Financial Advisors!

Has anybody had any dealings with Acuma? Also is there a big need for Financial Advice within Dubai? I don't want to move my family out and find out I've been sold an idea which doesn't exist!

Also if anyone does know of any other reputable Independent Financial Advisor set ups that I consider working with

Thanks in advance


De Vere or pic as its known has a bad reputation. My advice avoid them. However there other good companies around that you can join. Don,t be put off by the comments here, as these are their opinions. There are lot more people who are happy with their IFA,s then there are not.
If you are a true IFA then you have nothing to fear. I am one and am very proud of the work I do.
If you do come to Dubai , I for one wish you the very best.


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## Benee

I have been working in the industry in Dubai for the past three years but for a bank. I agree that there are an awful lot of IFA's out here and it would be very difficult to start from scratch now, I think the boat has already sailed. If I were in your situation then I would not come out here on false promises, Dubai is getting more and more expensive and to bring a family out on a commission only basis is a large risk. People have made money out here as an IFA but that was when the market was less saturated. 

In my opinion I wouldn't join an IFA out here, why don't you try the banks? If you have the qualifications and experience behind you then you might be able to get a good position with a international package as trust me you will need it, especially if your child is going to school out here.

I hope that this helps.


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## AngryinDubai

*Irresponsible and callous con artists*

Do not invest with Acuma. At best they are callous and incompetent, at worst they are complete con artists. My husband and I left them with a very sizable portion of our life savings whilst we went on an 18 month assignment overseas. They convinced us they would be a pair of hands. We invested in a Royal Skandia product which comprised of three different investment funds.

We were told that we would receive quarterly updates and have access to updated information on the performance of our investment through the online portal. They also promised we would be assigned a Financial Advisor who would call us if they saw any threats to our investment and advise us of alternative actions. We also signed a form authorising them to make changes as they saw fit in case they could not reach us. We did not receive any update from them in the entire 18 months we were away. The online portal was filled with useless graphs and never actually showed fund performances. 

Upon returning we requested an update from them. As they did not get back to us we did some quick Google searching and found that one of the funds had actually gone into liquidation and investors were not likely to recoup any of their money. When they finally did get back to us not only did we find that USD 8000 was lost in this fund but that our second investment fund had actually frozen so we could not access any of our money. When asked why we were not informed of these situations by our "Financial Advisor" we were told that they had made an "administrative error" which prevented us from receiving updates on the first fund situation. They also claimed that the freeze on the second fund was very recent however another quick Google search revealed that notice of the freeze had actually been sent to all investors (including our "Financial Advisor) 6 months earlier. Somehow she'd forgotten about this minor detail. 

We will be penalised for pulling out of the third component before a 5 year period. We have now resigned ourselves to the fact that most of our life savings are gone and there is nothing we can do about it. 

Bottom line - The staff at Acuma know how to talk the talk and sell you the world but at the end of the day once they have your signature they don't really care about your money because they've already received their commission.


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## msbettyboopdxb

AngryinDubai said:


> Do not invest with Acuma. At best they are callous and incompetent, at worst they are complete con artists. My husband and I left them with a very sizable portion of our life savings whilst we went on an 18 month assignment overseas. They convinced us they would be a pair of hands. We invested in a Royal Skandia product which comprised of three different investment funds.
> 
> We were told that we would receive quarterly updates and have access to updated information on the performance of our investment through the online portal. They also promised we would be assigned a Financial Advisor who would call us if they saw any threats to our investment and advise us of alternative actions. We also signed a form authorising them to make changes as they saw fit in case they could not reach us. We did not receive any update from them in the entire 18 months we were away. The online portal was filled with useless graphs and never actually showed fund performances.
> 
> Upon returning we requested an update from them. As they did not get back to us we did some quick Google searching and found that one of the funds had actually gone into liquidation and investors were not likely to recoup any of their money. When they finally did get back to us not only did we find that USD 8000 was lost in this fund but that our second investment fund had actually frozen so we could not access any of our money. When asked why we were not informed of these situations by our "Financial Advisor" we were told that they had made an "administrative error" which prevented us from receiving updates on the first fund situation. They also claimed that the freeze on the second fund was very recent however another quick Google search revealed that notice of the freeze had actually been sent to all investors (including our "Financial Advisor) 6 months earlier. Somehow she'd forgotten about this minor detail.
> 
> We will be penalised for pulling out of the third component before a 5 year period. We have now resigned ourselves to the fact that most of our life savings are gone and there is nothing we can do about it.
> 
> Bottom line - The staff at Acuma know how to talk the talk and sell you the world but at the end of the day once they have your signature they don't really care about your money because they've already received their commission.


If this is true, so sorry to hear this. How frightening!


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