The business concentrates on serving UK expats worldwide.
The Fry Group, a financial advisory firm specialising in UK expat clients, has launched its Middle East business by opening a new office in the Dubai International Financial Centre. The move comes after The Fry Group appointed Stuart McCulloch as market head.
“The firm plans to use Dubai as a platform to offer its services in the local market and across the wider Gulf region,” it said in a statement today.
The organisation said there are about 240,000 UK expats in the United Arab Emirates, and about 65 per cent of them think that they have significantly higher disposable income than they would have in the UK, which means that they need professional financial advice.
McCulloch has worked across the region in a number of senior roles and has more than 27 years’ experience in financial services, previously acting as head of operations at Bank of Singapore in Dubai and before that, head of operations, Middle East at Coutts.
“There is a huge opportunity for us to bring our approach to financial planning services to a market that is crying out for professionally qualified advisors that operate under strong governance models, and provide intelligent solutions with fair and transparent charging structure,” McCulloch said.