Dubai, 14 November 2022: Boutique wealth management firm, Finsbury Wealth announced its launch into the Dubai International Financial Centre “DIFC” today. Regulated by the Dubai Financial Services Authority “DFSA”, an internationally recognised, independent regulator, regarded as the “gold standard” when it comes to the regulation of advice in the UAE. Finsbury Wealth will specialise in holistic, independent financial advice for high-net-worth individuals, individual investors, family offices, businesses and trusts, across the Middle East and beyond.
Senior Executive Officer, Hannah Greenwood commented “The opportunity that the DFSA presented in terms of standards of advice and investment choice was a key motivator for the creation of Finsbury Wealth. Our expansion into the DIFC allows us to offer clients an enhanced suite of truly holistic investment offerings, combined with the highest level of international standards, regulations, and advice available within the UAE, and was the next logical step in our journey.”
Creation of Finsbury Wealth
The creation of Finsbury Wealth helps to cater to the fast-growing high net worth market, which is growing exponentially in the UAE, with the latest Henley Global Citizens Report announcing that the country was projected to attract over 4,000 millionaires as migrants within 2022, surpassing the likes of Switzerland, Singapore, the USA, Canada, Australia and many more. As the total private wealth in the region continues to increase, so too will the demand for bespoke, highly regulated financial service offerings tailored for high-net-worth individuals. Greenwood explained, “The DFSA license enables us to provide the complex structures and requirements that these types of clients require, and as we grow, it became the next natural step for us to take.”
Finsbury Wealth also offers generational planning, helping to preserve family wealth for generations to come, and offers services including family structures, asset management, and cross-border tax planning. In addition to high net worth clients, Finsbury Wealth also offers astute individual investors across the board, the confidence and peace of mind to invest, with the knowledge that the advice provided is regulated by the DFSA. This provides clients with an additional layer of protection and holds both advisors and firms within Dubai International Financial Centre to the highest standards of internationally recognised regulation and advice.
Greenwood explained, “We hope that this will give investors who may have previously been nervous about investing, the confidence to take action and obtain access to regulated financial advice, regardless of their financial position”. Finsbury Wealth is also able to support businesses both in the DIFC and across the UAE with their workplace savings schemes and gratuity management, which when correctly implemented can be extremely beneficial for both employees and employers.
Group Chief Executive Officer of Blue Sky Thinking Group, Danielle Suchley explained, “Our mission is to set the standard for boutique wealth management through meaningful relationships built on trust, integrity, and transparency, and the DIFC model will allow us to do this. We have had a great deal of success assisting clients through Finsbury Associates, and now through Finsbury Wealth, we will be able to continue our success, assisting high-net-worth individuals, families, and businesses with their bespoke investment requirements with the support of an internationally recognised independent regulator.”
Finsbury Wealth, is the natural progression of Finsbury Associates, which is part of the wider Blue Sky Thinking Group, which has been previously awarded “Best Firm in the Middle East” at the International Advice Best Practice Awards. Award-winning Finsbury Associates, was incorporated 10 years ago, and will continue to operate in assisting retail clients with their insurance requirements, whilst the newly launched Finsbury Wealth will offer clients a full portfolio of tailored investment solutions under the new DFSA license.