Friday, February 23, 2018
Landmark Report Shows That UAE Advisers Are Meeting Clients' Needs
Half of advisers surveyed have grown their businesses over the last year

The eighth and latest edition of Insight Discovery’s flagship Middle East Investment Panorama report, found that over half of the UAE’s financial advisers have continued to experience growth despite a tougher operating environment 

Notes Nigel Sillitoe, Chief Executive Officer of Insight Discovery: ‘Things were rather grim last year, and we entitled the report The Year of Reckoning. At that time, 63% of advisers saw client engagement - or lack of it - as a threat. Only 18% saw it as an opportunity” Despite the concerns of 2016 and against the backdrop of impending regulatory changes, advisers continue to experience an increase in client requirements “As it happens, advisers have met the expectations of increasingly sophisticated and demanding clients. Some 48% of the advisers surveyed told us that that their businesses have grown in the last year. Only 18% said that their businesses had contracted.”

Adds Andrew Paul, Senior Executive Officer, Aberdeen Standard Investments*: “this report shows how the advisers’ are responding to their clients’ changing needs by increasing usage of some products and reducing usage of others.” “Crucially, this report is not just about advisers. It quantifies the opportunities for asset managers in the massive, and often misunderstood, institutional pools of assets that are based in the Gulf Cooperation Council (GCC) countries. At least one of those pools is set to grow strongly over the coming years.”

Paul Evans, Head of Region, Middle East & Africa, from Old Mutual International: “Insight Discovery’s Middle East Investment Panorama shows that advisers, like their clients, need excellence in service in many areas. Technology should assist the process, but is unlikely to replace the human touch.”

Observes Reza Yazdi, Head of Middle East Markets at Morningstar: “This report confirms that high quality research from independent providers continues to play a crucial role in advisers’ selection of products and solutions for their clients. It also clarifies how and why advisers use social media.”

Concludes Nigel Sillitoe: “Regulatory change has been a front of mind topic for advisers since we began our reports back in 2010. It is very encouraging that the numbers of optimists and pessimists are evenly balanced, and that advisers have been able to cope with the rising costs associated with regulatory change, despite these changes it would appear that focusing on meeting client needs has been the key success strategy that has delivered growth against the backdrop of a tougher environment.”

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