DUBAI, UAE, June 1, 2016 /PRNewswire/ --
Well-established group catering to expats now commences financial advisory services specifically for Americans based in Emirates region
Offshore financial services group Holborn Assets, has today launched a new facility to cater to the estimated 50,000 American expats living and working within the UAE.
Many US expats struggle to open investment accounts with US platforms and the majority of offshore platforms are either very expensive or result in higher taxes with more filing obligations. In a recent survey conducted by Holborn Assets, results indicate that when it comes to financial matters, Americans are more likely to seek out a fellow American who understands their situation.
Vince Truong, Partner at Holborn and spearheading the new venture, stated, "At Holborn Assets we have developed a unique solution for US expats that is both inexpensive and provides form 1099 reporting to the IRS. As Americans we are taxed on worldwide income which affects our savings, tax filing, investments, life insurance, education plans, retirement and healthcare and whilst there are many excellent financial advisers in the region, most do not understand the idiosyncrasies of how you as a US taxpayer will be affected."
A seven-year Dubai resident himself and perhaps the only US Certified Financial Planner (CFP®) in the GCC region, Truong is passionate about his new role. "In the GCC region, there are very few advisory teams who share our commitment to long term, trusted partnerships with clients, as evidenced by our predominantly fee-based services. Even fewer have our level of technical proficiency in asset management and personal financial modeling."
Truong, who previously worked with LPL Financial in the US, will be joined by Steven Downey, based out of Abu Dhabi, previously a Securities Broker at Charles Schwab and Andrew Firman, who joins from J.P. Morgan Securities, where he latterly held the position of Vice President.
Holborn Assets CEO Robert Parker added, "At Holborn Assets we have always tailored our services to specifically meet our clients' needs. In the case of American expats, nobody else in the Emirates region has an American advisory team who understands the tax intricacies and consequences of what they're doing. With the launch of this new service offering, we can truly say now that nobody will service Americans better than we do."
About Holborn Assets
Holborn Assets is an independently owned global financial advisory group established in 1999 and headquartered in Dubai. The company caters primarily to expats with the objective of helping clients put the right money in the right place at the right time.
Holborn Assets is a holistic financial services provider that specialises in Personal and Corporate Wealth Management: key service offerings include Mortgages, Wills and Estate Planning, Education, Pensions, Insurance and SME.
The company has offices around the world and employs over 70 qualified financial advisors.
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SOURCE Holborn Assets