Trust is key in any relationship, but when it comes to your money you need to be sure the person offering you advice is 100 per cent reliable.
The relationship between the UAE financial advisory sector and resident investors has been dented in recent years due to the mis-selling of expensive savings, investment and life insurance products.
A number of regulatory changes rolled out last year aim to reduce the risk of mis-selling. Commission is now capped on new policies and financial advisers must include a mandatory 30-day “free-look” period that allows customers to cancel it without charge within the first month.
Advisers are also now required to provide a benefit illustration to customers before the policy commences and a policy statement every six months.
But what more could be done to ensure residents fully trust financial advisers in the Emirates once again?
Host Alice Haine is joined by William Tohme, senior regional head for the Mena region at the CFA Institute, who shares his insights on how trust can be boosted in the region.
Listen to last week's episode on how a teen trader made a Dh30,000 profit:
The biog
Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages
Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”
Favourite food: “I'm a vegetarian, so I can't get enough of salad.”
Favourite film: “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”
Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
MATCH INFO
England 2
Cahill (3'), Kane (39')
Nigeria 1
Iwobi (47')
