How to Choose a Financial Adviser in the UAE

Introduction

Who regulates financial advisers in the UAE, how to check a firm and an adviser, and what to ask about fees, independence and savings plans.

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Adviser at his desk smiling across a document at a client, pen in hand

Last reviewed 24 September 2026 · Updated · 8 min read

In short

Since 1 January 2026, the Capital Market Authority (CMA) has licensed firms that give financial advice onshore in the UAE, under Federal Decree-Laws No. 32 and No. 33 of 2025. The DFSA regulates firms in the DIFC and the FSRA regulates firms in ADGM. Each keeps a public register that shows licensed firms and their approved staff, so check who regulates an adviser first. Then ask in writing how the adviser is paid, whether the advice is independent, and what it would cost to leave any product, especially a long-term savings plan.

Who regulates financial advisers in the UAE?

The regulator depends on where a firm is licensed and what it sells. Onshore, the Capital Market Authority (CMA) licenses firms that provide financial advisory services. It took on this role on 1 January 2026, when Federal Decree-Laws No. 32 and No. 33 of 2025 came into effect.

Federal Decree-Law No. 33 of 2025 lists financial advisory services among the activities that need a CMA licence or approval. The law does not apply in the financial free zones, which have their own regulators. It can still cover a firm that targets clients elsewhere in the UAE from abroad or from a financial free zone, and it applies to firms in the UAE's other free zones.

The Dubai Financial Services Authority (DFSA) regulates firms in the Dubai International Financial Centre (DIFC), and the Financial Services Regulatory Authority (FSRA) regulates firms in Abu Dhabi Global Market (ADGM). Onshore, life insurance, including savings plans sold as life policies, is regulated by the Central Bank of the UAE (CBUAE).

Rules made before 2026, including the CMA's rulebook on licensing and approved jobs, stay in force until the CMA replaces them. Firms have until 1 January 2027 to comply with the new law, and the CMA Board can extend this. Some of the detailed rules in this guide may therefore change.

Who regulates financial advice and savings plans in the UAE
RegulatorWho it coversIts public register
Capital Market Authority (CMA)Firms that give financial advice onshore, since 1 January 2026Licensed Companies list
Dubai Financial Services Authority (DFSA)Firms in the Dubai International Financial Centre (DIFC)Public register of firms, individuals and funds
Financial Services Regulatory Authority (FSRA)Firms in Abu Dhabi Global Market (ADGM)FSRA public register of firms, individuals and funds
Central Bank of the UAE (CBUAE)Life insurance onshore, including savings plans sold as life policiesRegisters of licensed institutions and insurance entities

How do you check a firm and an adviser?

Check the individual as well as the firm, on the register of the regulator that licenses it. Use the contact details on the register, not those in an email or advert. The DFSA has warned of scams that copy a genuine firm's name, address and reference number, and the CMA has warned of cloned websites that impersonate its licensed firms.

Each regulator publishes its own register:

  • CMA: the Licensed Companies list shows each firm's licence category, its licensed activities and their status, and its accredited employees with their roles. The CMA also publishes a warnings list of unlicensed entities.
  • DFSA: the public register covers firms, individuals and funds, and lists prohibited or restricted individuals. A firm's entry shows the services it may carry on and any endorsements, such as permission to deal with retail clients.
  • FSRA: the ADGM public register covers firms, individuals, funds and exempt persons.
  • CBUAE: the Central Bank publishes registers of licensed institutions and insurance entities.

What is the difference between independent and restricted advice?

An independent adviser considers a broad range of products from different providers. A tied or restricted adviser recommends products from one provider or a limited panel. Either can be suitable, as long as you know which you are getting.

'Independent' is not used the same way everywhere, so ask what it means in practice. In the UK, for example, a firm calling its advice independent must assess a sufficiently diverse range of products, not limited to its own or those of closely linked firms.

In the DIFC and ADGM, an insurance intermediary must tell a retail client whether its advice is based on a fair analysis of the market or is limited, and whether it acts for an insurer or independently for you. If its advice is limited, you can ask for a list of the insurers it uses.

How are advisers paid, and what must they disclose?

Advisers are paid by fees, by commission from product providers, or both. Fees may be fixed, hourly or a percentage of assets. Commission is paid by the provider and can be built into the product's charges, so you pay it indirectly.

Disclosure rules depend on the regulator:

  • Onshore (CMA): a licensed firm must agree its relationship with you in writing, manage and disclose conflicts of interest, and set fees and commissions within CMA controls.
  • DIFC and ADGM: before recommending a product to a retail client, a firm must generally disclose any commission or other benefit that it or its staff have received or may receive. It must also set out its fees and charges, and have a reasonable basis for considering its advice suitable for your needs, objectives and finances.
  • Life insurance (CBUAE): total commission is capped. Fees paid to an investment adviser count towards the cap unless they are shown separately and you understand them when the policy starts. The firm that sells you the policy must sign a statement that it has disclosed all charges, and an investment adviser cannot sell insurance policies without an insurance licence.

Which qualifications matter, and what should you ask?

Onshore, the CMA approves individuals for set roles, such as financial analyst and compliance officer. A financial analyst usually needs a degree and at least three years' relevant experience, a diploma or lower qualification and at least eight years, or three years' experience with a qualification such as the CFA charter. They must usually pass the CMA's professional licensing tests and complete its continuous professional development (CPD) programme.

Professional designations, such as the CFA charter, CFP certification or the Chartered Wealth Manager title from the Chartered Institute for Securities & Investment (CISI), involve further exams. Check any designation with the body that awards it, such as the CFA Institute's member directory.

Questions worth asking include:

  • Which regulator licenses you, and what is your licence or reference number?
  • Is your advice independent, and which providers do you use?
  • How are you paid, and what will I pay in total each year, in dirhams?
  • What would it cost me to stop paying in, or to leave, in the early years?

What are the warning signs?

Take particular care with savings plans sold as life insurance, including unit-linked plans. They can commit you to regular payments for many years, and surrender charges can mean you get back less than you paid in if you stop early. Under CBUAE rules, those charges should be disclosed in the policy documents, marketing and illustrations, and in some cases a surrender value can be zero.

Ask for the illustration before you sign. It should show surrender values over the policy term, net of all charges, under at least two scenarios. When you sign, you should also get a separate page, printed in red, showing the surrender charges and surrender value at the end of each year. You sign this page separately.

Other warning signs include:

  • a firm or adviser missing from the register, or listed on the CMA's warnings list
  • pressure to sign quickly, or being asked to sign without receiving copies of the documents
  • projected returns presented as certain, when non-guaranteed values can be higher or lower
  • advice to replace an existing policy; replacing one unnecessarily to earn more commission, known as policy churning, is prohibited
  • fees or commission the adviser will not confirm in writing

Frequently asked questions

Who licenses financial advisers in the UAE in 2026?

Onshore, the Capital Market Authority (CMA) has licensed firms that provide financial advisory services since 1 January 2026, under Federal Decree-Laws No. 32 and No. 33 of 2025. In the financial free zones, the DFSA regulates firms in the DIFC and the FSRA regulates firms in ADGM. Savings plans sold as life insurance onshore are regulated by the Central Bank of the UAE (CBUAE). Check both the firm and the adviser on the register of the regulator that licenses them.

Is a DIFC or ADGM adviser regulated like an onshore adviser?

Not in the same way. The CMA, the DFSA and the FSRA each have their own rules on disclosure, suitability and complaints. Check which regulator licenses the firm and that its permissions cover the service offered.

Can I cancel a life insurance savings plan after signing?

Usually, if the insurer is licensed in the UAE. Policies from CBUAE-licensed insurers must give you a free look period of at least 30 calendar days, starting from the earliest of the policy issue date, the start of cover or the date you signed. The insurer should refund the full premium, although it may adjust for changes in fund value and deduct approved medical underwriting costs. For a policy from an insurer outside the UAE, check the cancellation terms in the policy documents.

Does paying a fee mean the advice is independent?

Not necessarily. Pay and product range are separate questions, so ask about both and get the answers in writing.

How do I complain about a financial adviser?

Start with the firm's own complaints process, which CMA-licensed firms must have. The CMA accepts complaints against its licensed firms, usually once the firm has had five working days to resolve the matter. You must complain to the CMA within one year of the last disputed transaction or of becoming aware of the problem, and a fee applies. For banks, insurers and other firms licensed by the Central Bank, Sanadak, the UAE financial and insurance ombudsman unit, can review a complaint once you have complained to the firm and waited 15 calendar days. The DFSA and FSRA have their own complaint routes.

How Indigo Group can help

Indigo Group can help with wealth management, including retirement planning and risk profiling, through our Wealth Management team. Indigo Financial Analysis and Consultancy LLC is licensed by the UAE Capital Market Authority under licence 706042. You can find us by name on the CMA's Licensed Companies list. For an overview of how we work with expatriates, see financial advice for expats in Dubai.

Read more about our independent financial advice and wealth management in Dubai.

To talk this through, book a consultation or message us on WhatsApp.

Written by

Colin Lynam

Managing Director

Colin is an experienced wealth manager with extensive knowledge of the GCC.

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Last reviewed 24 September 2026. This article is for general information only and does not constitute financial, legal or tax advice. Rules change, so please speak to a qualified adviser about your circumstances.

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