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How to Choose a Wealth Manager

Work through seven checks in order: verify the licence, understand how they’re paid, confirm the specialism fits, assess independence, judge the reporting, check the track record, and trust the individual. The first check is non-negotiable.
Seven Checks

Seven checks before you commit

01

1 — Verify the licence

Confirm authorisation directly with the regulator — in the UAE that is the SCA onshore, the DFSA in the DIFC, or the FSRA in the ADGM. A firm that resists verification is answering the question for you.
02

2 — Understand how they're paid

Fee-only, commission, or hybrid. Ask for the total annual cost in writing, including product and platform fees — not just the headline advisory rate.
03

3 — Match the specialism

A securities-focused firm is the wrong home for a property-heavy position, and vice versa. Most substantial portfolios need more than one specialist working together.
04

4 — Assess independence

Ask whether they are tied to particular products or providers, and how that shapes what they recommend.
05

5 — Judge the reporting

Ask to see a sample report. Regular, clear reporting you can actually read is the difference between a managed relationship and a black box.
06

6 — Check the track record

Ask for references and how long they retain clients. Long client tenure is one of the more honest signals in the industry.
07

7 — Trust the individual

You are hiring a person as much as a firm. The one who will manage your affairs should be someone you understand and can be candid with.

Questions worth asking directly

  • Who regulates you, and what is your registration number?
  • Exactly how are you paid, in total, per year?
  • Are you tied to any products or providers?
  • Who, specifically, will manage my affairs day to day?
  • How and how often will you report to me?
  • How do you handle assets you don’t specialise in, such as property?
  • Can I speak to two long-standing clients?

A note on property

If a meaningful share of your wealth is in real estate, ask a prospective wealth manager how they handle it. Many do not manage property directly and will either ignore it or outsource it. A common and effective structure is to keep your wealth manager for financial assets and add a real estate specialist for the property — with the two coordinating.

That is the role Nomada Living plays: the property seat at the table, alongside your regulated financial adviser.

FAQ

How to Choose a Wealth Manager: common questions

Look for a verified regulatory licence, a fee model you fully understand, a specialism that matches your needs, genuine independence, clear regular reporting, a solid track record, and an individual you trust.
Confirm the firm’s authorisation directly with its regulator — the SCA for onshore firms, the DFSA for DIFC firms, or the FSRA for ADGM firms — through the regulator’s public register rather than the firm’s own materials.
There is no single right figure; what matters is that the total cost is transparent and justified by the service. Ask for the full annual cost in writing including all product and platform fees.
Not necessarily. Managing property well is a distinct specialism most financial wealth managers do not perform. A common approach is to keep your wealth manager for financial assets and add a dedicated real estate firm for property.
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