Expats shun advice

Expats keep shunning advice

Expats from Hong Kong and the United Arab Emirates 

keep shunning advice.

A recent survey has revealed that a small number of ex-pat investors in HK and UAE will seek financial advice not minding the fact that they could miss out on very rewarding returns.

In 2015, less than 25% of the investors in UAE said that they will seek professional advice before investing. Approximately 44% claimed that they will take in to account global market conditions before investing.

Although Hong Kong is part of the Asian markets that was predicted to have one-figure returns in 2015, about 16% of its investors are willing to seek expert advice before investing.

Despite 88% of the respondents in the region achieving an average investment return of just 7% last year, 80% said they would continue to rely on their own judgment to make investment decisions.

David Howell, CEO of Guardian Wealth Management said: “Expats not taking advice are normally too focused on groups of securities they are more familiar with. As a result are not maximising their investment and at the same time exposing themselves to unnecessary risk"

The survey showed 67% of investors living in the UAE felt the Middle East could deliver the best returns globally in the next year, higher than any other country’s view of the region.

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