Tell us about yourself, your background, and your journey to your current role
I have had management positions at major financial institutions, including Barclays, HSBC, and Lloyds Private Bank. My years in management at these institutions provided me with invaluable skills in strategic planning, leadership, and financial oversight. These experiences have been instrumental in guiding my decisions, managing my team, and driving the growth of my own company.
Tell us about Wimbledon Wealth
Wimbledon Wealth provides bespoke & holistic financial planning to ensure people can enjoy today knowing they have a plan in place for tomorrow. Our goal is to help build wealth and reach its full potential. We give advice on insurance, cash management optimization, short and long term investment plans, retirement planning, fixed income strategies as well as providing cash flow modelling to all our clients.
Why did you found Wimbledon Wealth?
I founded Wimbledon Wealth Management in the UK after receiving feedback from my clients who expressed a desire for a more personalized and bespoke financial Service. I also identified a significant gap in the offshore market for high-quality financial advice. My passion for financial literacy and the desire to share my knowledge further motivated me to create Wimbledon Wealth, with the goal of providing clients with the tailored expertise they need to manage their wealth effectively.
How have you grown the company?
In the UAE, our growth strategy has been deliberately focused on slow, organic expansion. We’re not rushing to grow quickly, but rather expanding only when there’s a clear need. So far, we’ve built a small, close-knit team that takes great pride in delivering high-quality advice and personalized service to our clients. This approach ensures that we maintain the high standards Wimbledon Wealth is known for and that each client receives the attention and care they deserve.
How does Wimbledon Wealth help business leaders and entrepreneurs in the UAE?
Personal Financial Planning: Business owners often prioritize their companies, but their personal financial needs must also be secured. We create bespoke financial plans that cover insurance, saving strategies, and investment solutions. By handling both personal wealth and business-related finances, we allow entrepreneurs to focus on growing their business while knowing their personal future is secure.
Managing Business Liquidity & Investments: Business leaders may face fluctuating income or cash flow, especially in the early stages. We help manage these challenges by advising on cash flow modeling and investment strategies that ensure long-term stability. We also offer advice on how to structure business profits, ensuring tax-efficient growth and reinvestment.
Insurance & Risk Management: We guide entrepreneurs in protecting their business and personal assets through comprehensive insurance planning. We review business liabilities, key person insurance, and succession planning to protect their company and family from unexpected events.
Retirement & Succession Planning: Entrepreneurs often delay thinking about retirement because of their involvement in the business. We help by offering retirement planning that works alongside their business plans. Whether they aim to sell their business or pass it on to family, we create clear succession strategies that align with their personal financial goals.
What are the current trends in wealth management in the UAE?
Having a financial advisor is essential because it provides professional guidance in an increasingly complex and uncertain financial landscape. With today’s volatile markets and overwhelming information, even experienced investors can struggle to make sound decisions. A financial advisor helps by cutting through the noise and offering clear, objective advice tailored to each client’s unique goals.
Whether it’s retirement planning, managing risk, or consolidating pensions, advisors create personalized financial plans that consider all aspects of a client’s life. This level of personalization is something no app or self-directed platform can offer. A key role of an advisor is managing risk, ensuring that portfolios match individual risk tolerance, and serving as a buffer during market downturns to prevent emotional decision-making that could hurt long-term outcomes.
Financial advisors also help clients stay focused on long-term goals, such as retirement or wealth transfer, by providing accountability and adjusting strategies as needed. Their expertise helps avoid costly mistakes in investing, tax planning, or insurance, ensuring that every financial decision fits into the broader strategy. While technology is useful, the human element of personalized advice remains irreplaceable.
What are the top 3 mistakes expats are making with their finances in the UAE?
Overspending and Lifestyle Inflation: In the UAE, particularly in Dubai, many expats are tempted by a high standard of living and luxury. With higher earnings & 0% income tax, people tend to increase their spending instead of saving. This lifestyle inflation—where spending rises with income—leads to overspending on non-essentials. Over time, this can significantly reduce one’s ability to save and plan for the future.
Neglecting Pension Planning: Unlike many expats’ home countries, the UAE doesn’t have automatic pension contributions. Many fail to set aside funds for retirement, often overlooking the need for a structured pension plan. This can leave them financially vulnerable when they stop working, as they may not have enough saved to support their lifestyle in later years.
Not Building an Emergency Fund: Expats often overlook the importance of an emergency fund. Given the unpredictable nature of expat life, such as sudden job losses or relocations, having a cash buffer is essential. Without this financial safety net, people may be forced to dip into long-term savings or incur debt during unforeseen events.
What is lifestyle inflation? Why is it important to manage it?
Lifestyle inflation occurs when individuals increase their spending as their income rises, often without realizing the long-term impact on their financial health. As people earn more, they tend to upgrade their lifestyle. While it’s natural to enjoy the benefits of increased earnings, uncontrolled lifestyle inflation can erode savings and impede financial goals. Managing lifestyle inflation is crucial for several reasons:
1. Preserving Savings: Failing to manage this impulse can prevent you from building savings or investing for the future. Keeping spending in check allows for more financial security & options in later life.
2. Achieving Financial Goals: Whether it’s saving for retirement or funding education, lifestyle inflation can divert funds from these objectives. By managing your spending, you can allocate resources toward achieving your long-term financial goals.
3. Building Resilience: Life can be unpredictable. Managing lifestyle inflation helps create a financial buffer for emergencies, job loss, or unexpected expenses. Having savings set aside increases your resilience during tough times.
4. Promoting Financial Freedom: By controlling lifestyle inflation, you can achieve greater financial freedom. Having a grip on your finances will enable you to live comfortably while still saving and investing for the future, ensuring you can enjoy both today and tomorrow.
Tell us about the 40-30-20-10 rule.
At Wimbledon Wealth, we prefer the 50/30/20 rule for budgeting rather than the 40/30/20/10 rule. This framework helps us to enjoy life while preparing for the future. Here’s a breakdown:
1. 50% Needs: Allocate 50% of your income to essential expenses—these are the non-negotiable costs necessary for your day-to-day living. This includes rent or mortgage payments, utilities, groceries, transportation, and healthcare. Covering these essential needs is the foundation of a stable financial life.
2. 30% Wants: Set aside 30% of your income for discretionary spending—things you want rather than need. This includes dining out, vacations, entertainment, and hobbies. It’s important to enjoy the present and enhance your quality of life as we are not guaranteed tomorrow.
3. 20% Savings and Investments: Use 20% of your income for saving and investing. Begin by building an emergency fund with accessible savings to cover unexpected expenses.
Once you have a solid cash buffer, focus on investing for long-term growth. You can further divide this 20% into two segments:
– 10% for Additional Savings: This can be earmarked for specific goals or milestones, such as a vacation, home purchase, or educational expenses.
– 10% for Investments: This portion is directed toward building wealth over the long term, typically through investment options that lock in funds for five years or more.
This budgeting approach balances immediate gratification with long-term financial security, allowing you to live well within your means while also preparing for a secure future.
Why should everyone have a retirement plan for the UAE?
Planning for retirement is vital for financial security, especially in the UAE, where many expatriates lack formal pension schemes. The unpredictable job market can disrupt your income, so a solid retirement plan helps you prepare for uncertainties, ensuring you can continue saving even if your career changes.
A pension is key to achieving the lifestyle you want in retirement. It provides a dedicated income source that supports your goals, whether traveling or enjoying a comfortable life. Unlike in many home countries, retirement plans in the UAE can be accessed before the traditional retirement age, allowing you to use your savings for investments or lifestyle choices earlier.
Healthcare costs often rise with age, and a retirement plan ensures you can manage unexpected medical expenses without depleting your savings. Many expats may also retire outside the UAE, involving relocation costs. A comprehensive plan prepares you for these financial implications. In summary, a retirement plan offers the flexibility and security needed to navigate life’s uncertainties, keeping you on track for a comfortable retirement and helping you pursue your desired lifestyle.
What has been your biggest career success?
My biggest career success has been launching Wimbledon Wealth in the UAE. Expanding the business into this dynamic market has allowed us to extend our bespoke financial services to a new audience, while maintaining the same high standards of personalized advice and care that our clients value.
You have also launched a podcast. Tell us about your podcast ‘Sheconomy’
Sheconomy is a podcast that dives into the stories of successful female entrepreneurs. It highlights the importance of a community-driven economy, featuring discussions with leading businesswomen who share their personal experiences and the challenges they’ve overcome. It’s all about celebrating and learning from the remarkable stories that have shaped these inspiring women.
What inspired you to launch your podcast ‘Sheconomy’?
I was inspired to launch Sheconomy because I wanted to explore the unique nuances of women in business and the supportive communities they foster. Through the podcast, I delve into the stories of successful female entrepreneurs, uncovering the secrets, insights, and strategies that have helped
What are your goals for the next 5 years?
Over the next five years, my goal is to expand our team further in the UAE, while continuing to grow organically. In addition to strengthening our core services, I also aim to diversify into other areas of financial expertise, ensuring that Wimbledon Wealth remains at the forefront of delivering comprehensive and tailored financial solutions to our clients.
Where can readers find out more about you & Wimbledon Wealth?
