WELF has introduced a regulated wealth advisory business in the UAE, aimed at professional and institutional clients involved in cross-border wealth and capital movements.
The operation is based at the Dubai International Financial Centre, which the firm said gives it access across European, Middle Eastern and Asian markets and time zones for clients with internationally held assets.
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WELF Advisory has received Dubai Financial Services Authority regulation as a Category 3C firm.
Under that status, it is permitted to manage assets, arrange investments, provide advice on financial products, arrange and advise on credit, and arrange custody.
The company said its service is structured around tailored arrangements and individual guidance provided through a senior relationship partner.
WELF uses an open-architecture approach, choosing external products and counterparties according to suitability and client objectives, while assessing client requirements in line with DFSA rules and individual risk profiles.
Client assets are held by independent custodian banks, the firm said.
It added that it offers advisory and discretionary management services under mandate and does not operate as a deposit-taking institution.
WELF CEO Christoph Tunkl said: “We are here to challenge the status quo in wealth management. What I experienced myself as a client, is that our industry is losing its human touch, despite life getting more and more complex. And that’s why we founded and are rapidly scaling WELF, as a new home for likeminded wealth and relationship managers who thrive in an innovative, dynamic and fresh workplace where being human is at the heart of everything.”
