Guardian Wealth Management Qatar Report

A little over a year ago Guardian Wealth Management made its first foray outside of Europe with the opening of an office in Qatar – a decision that may come to be viewed as a very shrewd move given how much talked about the country is in international IFAs circles at the moment. Great potential is seen in the oil and gas rich nation due to the influx of investment and skilled expat workers on the back of its successful bid to host the football World Cup in 2022, and some believe it is poised to be as lucrative a market for advisers in years to come as Dubai is now. “Qatar is a country with one of the largest percentage of expatriates, with 86 out of every 100 people having been born elsewhere,” says David Howell, co-founder and chief executive of Guardian. “Take into account the influx of professionals and workers that will be needed to execute the country’s plans to host the World Cup in 2022 and the potential for our regulated company in Qatar is obvious. Estimates are that the current population of 1.7 million will double in the next two years, with around 100,000 expatriate workers of a position and wealth to require quality financial advice for their period working in the country, and potentially beyond.” So, it seems Guardian’s decision to gain authorisation in Qatar showed great foresight, in their very first move outside Europe, a progression that is set to be followed with further international growth within the next 12 months. Adds Howell: “Historically, as a firm we have just concentrated on the UK and Europe, but now we have expanded into the Middle East and also have plans for the Far East. We want to become a genuine international financial planning practice.” When it launched in the mid 90s, Guardian’s focus was on the UK, and, like many international businesses before it, the move into providing offshore or cross-border advice was dictated more by circumstance and chance than strategy. Howell says: “Many of our clients were beginning to leave the UK to take up employment either permanently or temporarily in the EU, and specifically with the United Nations. “Rather than lose them, it made sense to follow them to the countries in which they were working and to ensure we met their financial needs as expats abroad as well as at home in the UK.” These UN workers were scientists, explains Howell, who had become clients through the “usual channels” – they were based in and around Yorkshire and, requiring financial planning, found their way to Guardian’s door. Initially, an office was opened in Brussels under the supervision of the Belgium regulator the CBFA, where the UN has a large presence, from which it liaises with the European Union. This was followed by a further outpost in Geneva, as a member of the OAR-G self regulatory group,, also as a result of the UN client base. By virtue of these offices, Guardian was able to offer fully regulated financial planning services for other British expats in Europe, and grow its client base within the UN as well. “We were invited to present at various UN organisation’s seminars and give presentations to international bodies. We haven’t looked back,” says Howell, who adds that the firm also retains a large UK client roster. He founded the firm in Yorkshire in 1994 as a one-man band operation called Keystone Consultancy then in partnership with John Hasberry, Guardian chief operating officer, began expanding the business internationally. Some 15 years later the business has 57 advisers on its books, variously based in the UK, Switzerland, Belgium and latterly Qatar, almost £170m under advice and in excess of 5,000 clients. Howells himself went into insurance broking “at the tender age of 18”, working for a company called Provident Mutual, based in Leeds. He later found himself in Perth, Australia, having successfully applied for a job within Allied Capital Group, part of Inscape. On returning to the UK

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