Wealth manager AES International says it hopes to “drain the swamp of expat financial services”, having recently opened an office in the Dubai International Financial Centre.
Established in 2004, the UK-headquartered firm claims its low-cost, passive approach and fee-based advice model will distinguish it from other financial advisers that target expatriates.
“Expats are accustomed to the swarms of poorly regulated, international financial salespeople charging unreasonable, undisclosed commissions, and causing serious long-term damage to their personal finances,” says Sam Instone, chief executive.
“The sorry truth is that most international investors have never understood the costs they incurred, the underperformance they have endured or the protections they have waived by failing to choose the right type of organisation with which to work.”
AES International, which also operates an office in Qatar, has moved into new premises in the Dubai International Financial Centre, a financial free zone within the UAE that is governed by its own laws and has its own courts. The centre permits companies to be 100%-owned by foreigners.
©2016 funds global mena