The True Value Of Financial Advice: St. James's Place Middle East

(MENAFN- Khaleej Times) The United Arab Emirates is one of the world's most in-demand locations, with more than 800 high-net-worth individuals set to move from the UK this year alone . As the UAE's lifestyle, professional opportunities, and low tax environment attract a wide range of expats from across the globe, these internationally mobile individuals will require expert financial advice to navigate their complex needs.

As overseas professionals flock to places like Dubai, many people making the move will be assessing whether or not they need to engage a financial adviser to plan their investment , protection , retirement and tax planning needs . With so many people weighing up this choice, what is the true value of financial advice? Is working with an adviser worth it? And where do they bring value?

When answering these questions, it's important to look at the intangible benefits as well as the headline numbers. ILC research has shown that people who use financial advisers are, on average, US$57,000 better off when they retire, after fees. While that underlines some of benefits of working with a professional adviser, there is far more to an adviser's broader value proposition.

One of the biggest benefits of financial advice is clarifying and setting out an investor's long-term goals and matching their needs with the right investment products at the right time. Advisers are often asked how they can pick the next big stock or quick win, but an adviser's value comes in assessing a person's circumstances and helping them achieve their life goals through methodical, careful and informed planning.

St. James's Place Middle East (SJP) , a FTSE-listed financial advisory firm with more than US$238 billion in assets under management and nearly one million global clients, takes a 'plan, design and review' approach to financial planning to ensure people get exactly what they need from their financial adviser.

Tony Smith, Head of tax, technical and advice delivery, St. James's Place, Asia & Middle East

"There are occasions in life where the DIY approach works and getting it wrong may not have a significant impact. The same cannot be said for your finances and future plans. There are a host of issues to consider and a vast range of investments, products and SPVs to suit different circumstances and objectives. Advice is paramount in ensuring the right options are chosen and are regularly reviewed to maximise the chance of realising objectives," notes Tony Smith, Head of tax, technical and advice delivery, St. James's Place Asia & Middle East.

Plan, design and review

In the planning phase, SJP clearly defines a client's goals, setting out their life objectives and targets. Then, the firm works with clients to design and invest money in a way that matches those goals, for example, reviewing a person's risk-return profile in line with their expected retirement date. Throughout this time, a quality adviser will also help people avoid bad decisions - a valuable role that can prevent money from being squandered on 'the next big thing'.

Needlessly wasting money chasing hot stock market trends or investment scams is expensive, and a quality adviser can protect people from their own worst impulses. They will also work out the different tax considerations of your portfolio of assets, to stocks and bonds to rental properties in different jurisdictions, invaluable help for people moving regularly across borders, like those arriving in the UAE.

Working with an adviser shouldn't be a set-and-forget relationship after the first meeting. A quality financial adviser will deliver ongoing, tailored advice based on your evolving needs. St. James's Place meets with clients on a regular basis to catch up on their plans, goals, life events and changes, and all the adjustments that are later needed for a portfolio.

Valuable peace of mind

Another valuable aspect of financial advice is peace of mind. Think of the lost hours spent worrying about pensions, tax, and investments, or scouring through old documents to establish your financial position or the state of your pension. When working with an adviser, this aspect is taken care of; you have an expert on your side to guide you through your financial life.

Knowing you're on the right track to navigate uncertain times, market ups and downs, and unexpected life moments is hard to quantify, but all part of a financial adviser's value proposition. For those moving to the UAE from overseas, having an expert on hand to help with the transition and eventual repatriation can take the pain out of relocating, one less thing for busy professionals to worry about.

Daniel George, Head of business at St James's Place Middle East.

"As a financial adviser, you're there to look people in the eye and tell them you're there to look after one of the most important things in their lives," says Daniel George, Head of business at SJP Middle East. "You're there to take that worry away from them so they can look after their families and secure their futures, and that's why I got into this industry."

We're all living longer lives, and working with an adviser can ensure people are not only prepared for retirement but have the security they need to live to 100. Across the globe, government budgets are coming under increasing strain to support state pensions and growing healthcare costs for an ageing population, and individual resilience will be crucial as we age. Those with quality advisers will be in a more secure position.

Of course, a quality adviser also recognises there's more to life than planning for retirement. Advisers can set people up to achieve any of their goals, from leaving a legacy for family, supporting children and grandchildren, or making a difference through philanthropy. It enables the financial freedom to make those goals possible. Advisers are also flexible, working with people as their priorities change and evolve.

A trusted adviser through all life stages

Another overlooked element of financial advisers is their ability to help you navigate choppy waters and unexpected speed bumps in your life journey. From increased education costs, a tricky inheritance, sudden tax bill, divorce or change in employment circumstances, an adviser is someone to trust and help you manage big life events.

SJP's Real Life Advice Report shows that life milestones, such as reaching a certain age or serious illness or receiving an inheritance, are often the most common prompts for people to seek financial advice. Having an adviser on board ahead of these significant life events can provide people with confidence in their time of need, putting them in a stronger position to deal with these situations.

The value of financial advice goes beyond the additional financial returns and professional expertise in investment or tax. It's a partnership that can ease concerns, build confidence, and help people realise their overall life goals. To many clients, those benefits are priceless.

To learn more about St. James's Place, please visit

The 'St. James's Place Partnership' and the titles 'Partner', 'Adviser', 'Partner Practice', or any variations thereof, are marketing terms used to describe representatives of the St. James's Place Group ('SJP Group'). St. James's Place (Middle East) Limited ('SJPME'), is regulated by the Dubai Financial Services Authority (DFSA) and is authorised to conduct the Financial Services of 'Advising on Financial Products' and 'Arranging Deals in Investments' Investments' in and from the Dubai International Financial Centre ('DIFC'). DFSA Firm Reference Number F003486.

Registered Address: Gate District Precinct Building 03, Units 706, 707 & 708, Level 7, DIFC, United Arab Emirates. SJPME is part of the SJP Group. Members of the St. James's Place Partnership in the DIFC are appointed by and represent SJPME and may facilitate business with other companies within the SJP Group.

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