Financial advice is big business all over the world and is a growing industry in the UAE as residents look to make the most of their money. But can you trust advice from professionals who are essentially not regulated?
We asked 2,610 TaskSpotting users for their opinions on financial advice. TaskSpotting describes itself as the region’s only advocate marketing platform and pitches our questions to its app community who typically engage with brands to create content and share feedback.
A vast majority of users felt they were in need of an expert’s advice to help plan their investments and saving strategy. Yet only a small majority said that they trusted the advice they had received in the past.
Perhaps the most compelling number in this week’s survey was the 82 per cent who felt that financial advisers needed more regulation to contain the apparently common practice of mis-selling.
Regulators have been increasingly proactive in chasing down rogue traders preying on ill-informed customers, but rules can only go so far.
The best defence against bad advice is to read the small print before signing on the dotted line and, most of all, to question the person selling the service.
Maestro
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VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
MATCH INFO
Barcelona 2
Suarez (10'), Messi (52')
Real Madrid 2
Ronaldo (14'), Bale (72')
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
LAST 16 DRAW
Borussia Dortmund v PSG
Real Madrid v Manchester City
Atalanta v Valencia
Atletico Madrid v Liverpool
Chelsea v Bayern Munich
Lyon v Juventus
Tottenham v Leipzig
Napoli v Barcelona
Analysis
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Miguel Cotto world titles:
WBO Light Welterweight champion - 2004-06
WBA Welterweight champion – 2006-08
WBO Welterweight champion – Feb 2009-Nov 2009
WBA Light Middleweight champion – 2010-12
WBC Middleweight champion – 2014-15
WBO Light Middleweight champion – Aug 2017-Dec 2017
