Three years on: How the UAE's wealth market is evolving

As Dubai attracts more globally mobile entrepreneurs and investors, financial planning is becoming increasingly international, long term, and relationship driven

Dubai's wealth market is entering a new phase. As more entrepreneurs, investors, and internationally mobile professionals make the emirate their base, demand is shifting beyond investment management towards broader, cross-border financial planning. Three years after establishing its DFSA-regulated presence in the Dubai International Financial Centre (DIFC), St. James's Place Middle East has seen that change first-hand.

Dubai was already attracting entrepreneurs, executives, and families when SJP established its DFSA-regulated presence in the DIFC. What has changed since is the depth of that demand. More residents are treating the UAE not as a short posting but as a long-term base for work, family, property, business, and retirement planning.

That shift has shaped SJP's first three years in the market. Since its entry to the UAE, SJP Middle East has grown its local client base, built adviser capability in Dubai, and expanded the support available to internationally mobile clients whose financial lives often stretch across several countries. In 2026, SJP also broadened its regional investment proposition through the rollout of its Flagship Portfolio Funds and wider access to the Morningstar Wealth Platform.

Daniel George, Head of Business at St. James's Place UAE, said: "When we opened our doors in Dubai, we knew we were entering one of the world's most dynamic financial centres. What has stood out over the past three years is how quickly the market has matured. Clients are asking more sophisticated questions, and increasingly they are looking for an adviser who can support them throughout every stage of their lives, wherever that journey takes them. That is exactly where relationship-led advice comes into its own."

For many clients, the conversation has changed. In the early stages of relocating to the UAE, planning often focuses on immediate decisions: banking, savings, cash flow, protection, tax residency, pensions, and property. Those priorities remain important, but they are now part of a wider picture.

SJP advisers are increasingly supporting clients with cross-border financial planning, retirement provision across more than one country, education funding, estate and legacy planning, succession planning, and the practicalities of managing wealth through international moves. These are not one-off decisions. They require ongoing advice, regular review, and a clear understanding of each client's family, career, and long-term goals.

Dubai's evolution as a global wealth hub sits behind much of this change. Its millionaire population grew by 102 per cent over the decade to 2024, reaching an estimated 81,200, according to Henley & Partners' World's Wealthiest Cities Report 2025. Its appeal also extends beyond commercial opportunity. For many residents, Dubai offers stability, connectivity, and a base from which to build an international future.

That has raised expectations of financial advice. Clients are better informed, more selective, and more aware of the risks of fragmented planning. A family may live in the UAE, own property in the UK, and educate children overseas. A business owner may need to think about personal wealth, company assets, liquidity, succession, and currency exposure at the same time. In that context, advice needs to be joined up.

SJP's approach has always been built around understanding the client first, then planning, designing, and reviewing advice as circumstances change. In Dubai, that model has become increasingly relevant because people's lives are becoming more permanent, but also more international.

Technology will continue to improve how clients access information, track portfolios, and communicate with advisers. But SJP believes the adviser relationship remains central. More information does not automatically make decisions easier. Clients still need judgement, context, and someone who understands how different decisions fit together.

Beyond advising clients, St. James's Place Middle East has sought to become an active participant in Dubai's business community, supporting financial education initiatives through the British Embassy, partnering with organisations including British Mums Dubai, and investing in local sporting initiatives such as Empire Football Club.

Daniel George added: "The past three years have shown us that strong financial advice starts with listening. Clients want to know that their adviser understands their goals, their family, their responsibilities, and the future they are working towards. As Dubai continues to evolve as one of the world's leading wealth centres, we are proud to play our part in helping clients navigate increasingly complex financial lives with confidence."

For SJP Middle East, the opportunity is to keep growing with Dubai's wealth market. As more people choose to build lasting lives in the UAE, the role of advice is changing with them.

To learn more about St. James's Place Middle East or speak to an adviser, visit https://www.sjp.asia/ae

The ‘St. James’s Place Partnership’ and the titles ‘Partner’, ‘Adviser, ‘Partner Practice’, or any variations thereof, are marketing terms used to describe representatives of the St. James’s Place Group (‘SJP Group’). St. James's Place (Middle East) Limited (‘SJPME’), is regulated by the Dubai Financial Services Authority ('DFSA') and is authorised to conduct the Financial Services of ‘Advising on Financial Products’, 'Arranging Custody’, and ‘Arranging Deals in Investments’ in and from the Dubai International Financial Centre (‘DIFC’). DFSA Firm Reference Number F003486. Registered Address: Gate District Precinct Building 03, Units 706, 707 & 708, Level 7, DIFC, United Arab Emirates. SJPME is part of the SJP Group. Members of the St. James's Place Partnership in the DIFC are appointed by and represent SJPME and may facilitate business with other companies within the SJP Group.