SINGAPORE, 4 January 2019 – The Fry Group, a global financial advisory group specialising in working with British expats around the world, today announces the launch of its Middle East business and the opening of its new office, located in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA).
Following the appointment of Stuart McCulloch as Market Head earlier this year, The Fry Group is now licensed to conduct business for clients based in the Gulf region. The firm plans to use Dubai as a platform to offer its services in the local market and across the wider Gulf region.
The Gulf region represents significant potential for the business. According to Go-Gulf, there are around 240K British expats in the UAE alone, 65% of whom feel they have significantly higher disposable income that they would in the UK, requiring transparent and professional advice to plan their finances.
The Fry Group team will look to emulate the business’ award-winning approach to financial and tax advice, including the highest standards of client service, transparency and professionalism. The Fry Group team already includes a number of Chartered Financial Planners and the company is actively hiring quality individuals who meet the required high standards of The Fry Group globally.
Stuart McCulloch has worked across the region in a number of senior roles and has experience in dealing directly with local regulators, including the DFSA, QFCRA and UAE Central Bank, having held licenses with each. He has more than 27 years’ experience in financial services, previously acting as Head of Operations at the 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 advisers that operate under strong governance models, and provide intelligent solutions with fair and transparent charging structure,” said Stuart McCulloch, Market Head, Middle East, The Fry Group. “The DIFC gives us an ideal environment to build up the business, and I’m thrilled to be launching The Fry Group here and working to deliver a new style of financial advice in the region.”
Jeremy Woodley, Chairman and Managing Director, added: “We have looked after the needs of British clients for 120 years with a proven track record in the UK, Belgium, Singapore and Hong Kong. Now we bring that experience and approach to the Middle East, where we aim to be the go-to firm for the discerning expat. We will provide access to a range of different experts across tax, investment, estates and wills, and take a team approach to ensure the best possible advice and outcomes.”