Cold Calling Clash Dubai Trainee Wealth Managers Face Demanding Work Despite Tighter Rules

A leading City wealth management firm has come under the spotlight for requiring its Dubai trainees to make at least 100 calls a day, as regulators move to tighten restrictions on unsolicited selling of financial services.

Hoxton Wealth, with headquarters in London and operations spanning the globe, outlined uncompromising expectations in its recruitment drive for trainee wealth managers in Dubai. Prospective candidates were told the role would be exceptionally challenging, demanding “exceptional resilience and a strong work ethic”. For the first two years, new recruits are expected to work almost entirely on the phone, making no fewer than 100 calls daily and securing at least one appointment each day as a non-negotiable minimum standard.

The advertised salary for the first year stands at £24,000, alongside a 5 per cent commission on sales. The package rises to £26,400 in the second year and reaches £28,800 by the third. Candidates are required to have at least a sixth-form or college education and must prove a competitive spirit and the ability to thrive under pressure. Trainees are entitled to Dubai residency visas and medical coverage, as provided for all residents.

This recruitment strategy emerges as Dubai strengthens its regulations on cold calling. Since 2024, financial firms are only permitted to make unsolicited calls between the hours of 9am and 6pm. Aggressive sales tactics and repeated follow-up calls have also been prohibited by Dubai authorities. The UK, meanwhile, banned cold calling in the financial services sector in 2023, following a regulatory clampdown.

The role at Hoxton Wealth demands substantial talk time and meeting targets — five hours of conversation and five booked meetings per week are required in addition to call volumes. The wealth management firm has around £2.5 billion in assets under management and serves over 10,000 clients worldwide, with nine offices including presences in Cyprus, South Africa, Australia and the United States.

Dubai continues to attract UK expats in large numbers, with over 240,000 British nationals now calling the Emirate home, drawn by low taxes and luxurious lifestyle opportunities. For those entering the world of financial planning from the UK, the job promises both a rigorous introduction and significant pressure from day one.