From Accounting to Financial Planning: Charley Smith’s Journey to Success

How relocating to Dubai transformed Charley’s career and opened doors to international financial planning opportunities.

In this episode of Financial Planner Life , Charley S. of Hoxton Wealth shares her fascinating journey from accounting in the UK to becoming a client services manager in Dubai. With Dubai’s luxury lifestyle and its unique financial environment as the backdrop, Charley’s story highlights the challenges, rewards, and opportunities of building a career in a global financial hub.

1. Navigating Dubai’s Cost of Living

Dubai is known for its high cost of living, especially when it comes to rent and day-to-day expenses. Charley discusses with Sam the importance of thorough financial planning before making the move to such an expensive city. While it’s true that living in Dubai requires a significant income to maintain a comfortable lifestyle, Charley also highlights that despite the high costs, the professional and financial growth opportunities available in the city make the investment worthwhile.

"A lot of people think I could be earning so much more because it's tax-free, but you need to remember that things cost more here."

2. The Benefits of a Tax-Free Income

One of the major attractions for financial planners in Dubai is the tax-free income. In her conversation with Sam, Charley highlights how this allows individuals to keep a larger portion of their earnings, providing greater opportunities for savings and investments. They discuss how the absence of income tax is a key factor in enabling professionals to achieve financial freedom more quickly, making Dubai a highly appealing destination for those seeking to accelerate their careers and build wealth.

"I think it's okay if Dubai isn't your forever and I don't think it's a forever for everyone - even if it's just a short to long-term place for you to build a career, to build wealth, to invest, that's fine."

3. Lifestyle and Well-being in Dubai

Sam and Charley explore how Dubai’s lifestyle offers much more than just luxury. Charley highlights how walks on the beach, getting an acai bowls with friends, and watching the sunset make a big difference to her happiness, while Sam notes that the health-conscious, outdoor-focused way of life allows residents to take full advantage of activities like yoga, Pilates, and beachside walks. They discuss how this emphasis on well-being and fitness contrasts with Dubai’s reputation for extravagance, providing a balanced lifestyle that enhances both physical health and overall happiness.

4. The Challenge and Opportunity of Building a Career Abroad

Moving to a new country can be daunting, but for Charley, it presented both challenges and exciting opportunities. As she navigates the competitive financial market in Dubai, she also sets her sights on expanding her qualifications, particularly in U.S. certifications which will allow her to work across multiple jurisdictions. She discusses how moving to Dubai pushed her to grow both professionally and personally, and her experience highlights how Dubai can serve as a strategic stepping stone for financial professionals looking to build international careers.

"I would also like to study the Series 65. There's so much opportunity in the US market and I've seen that since working here know US persons with 401ks, IRAs. There's so much opportunity there to help them."

5. Creating a Long-Term Plan and Thinking Beyond Dubai

While Charley is thriving in Dubai, she acknowledges that it might not be her forever home. She emphasizes the importance of viewing Dubai as a place to build wealth and grow professionally, with the possibility of moving on in the future. For her, Dubai is a valuable stepping stone where professionals can accumulate wealth and experience, with the option to transition to other markets in the future. This forward-thinking approach is essential for anyone looking to leverage Dubai’s advantages while keeping their career path flexible.

Whether you’re looking to expand your qualifications, explore international markets, or simply enjoy a better lifestyle, Dubai offers a unique environment for professional and personal development. If you’re interested in learning more about Charley’s journey or considering a career move to Dubai, listen to the full episode of Financial Planner Life and discover how Dubai could be the next big step in your financial planning career!