I had a meeting with so called advisor in Dubai, had great rapport and said I had a shortfall in my retirement planning. Thus he recommended me a Generali Vision over 22 years.
It looked very good on paper until I was advised by an accountant friend to ask about the tax implications as a US citizen. I was told that it was not liable for tax and even worse I didn't have to declare it. I contacted my financial planner in the US who told me there was a heavy tax liability for a foreign investment and it would have to be declared!!! I could not believe he had lied to me about this.
I confronted him on the phone and he mumbled oh the law must have just changed!!
I was so angry I wanted to report him to the regulatory body, but there isn't one in the UAE. Dud advice from a dumb guy and a dumb company, steer well clear.
Product or Service Mentioned: Globaleye Financial Advisor.
Reason of review: Poor customer service.