Gulf Cooperation Council-based The Family Office has set up an operation in the Dubai International Financial Centre (DIFC) in the UAE.
This is the firm’s third office in the GCC after Riyadh, Saudi Arabia and Manama, Bahrain.
The UAE operation will offer a range of wealth management services, including financial planning, investment advice, advising on building customised portfolios in private equity, private debt, real estate and direct funds.
It will help investors in the UAE access “top-tier exclusive private market opportunities” in collaboration with major international asset managers, starting from $300,000 (£241,000, €273,000).
In May 2022, The Family Office launched its digital wealth management platform which allows investors to create financial plans, assess their risk appetite, access international and exclusive private market opportunities. The platform will soon become accessible to clients of the Dubai office.
“We are excited to expand our presence in the GCC and bring our expertise in wealth management to Dubai,” said Abdulmohsin Al Omran, founder and chief executive of The Family Office.
“Our team of experienced financial advisers is dedicated to helping investors achieve their financial goals, and we look forward to providing tailored solutions to meet the unique needs of investors in the UAE.”
DIFC demand
The DIFC has attracted several notable financial giants recently and the total number of wealth and asset management companies in the financial centre has increased to over 300.
International Adviser reported that financial services giant Edmond de Rothschild Group and Holborn Assets received DFSA approval to open an advisory office in the DIFC. In March 2023, IA also exclusively revealed that St James’s Place has been given in-principle approval for an DFSA licence.
Some firms which joined the DIFC in 2022 included Nomura, Octogone Group, Continental Group International, Habib Bank, Alpadis Group and Finsbury Wealth.
