If you are an accountant, lawyer or financial adviser with a client holding a UK Pension fund we will be delighted to assist you. Possibly, you understand that the QROPS market is one of constantly updating legislation and you require an adviser you can trust.

We deliver an excellent value proposition working with other trusted professionals allowing you to offer your clients an additional value added service.

Why is this proposition different?

Our unique positioning is that our adviser was actually a UK based Pension Transfer Specialist (protected phrase in the UK) for over 20 years. We hold both the UK Diploma in Financial Planning (Level 4) and the G60 pension specialist qualifications (required qualifications in the UK). In addition, we hold and maintain Certified Financial Planner® status in both the UK and Australia.

This is not an administration only service; this is a highly professional, qualified, experienced service provided by an expat with over 20 years relevant UK Pension transfer experience.

What this means to your client is that they will receive advice on whether it is in their best interests to transfer, not just the administration service to facilitate a transfer. There is a fundamental difference with this, that only an appropriately UK qualified adviser can provide.

Client with a UK Defined benefit fund?

You may be aware that if your client has a UK defined or safeguarded benefit scheme worth over £30,000 in value that there is a requirement for a UK based financial adviser sign off.

We are able to deliver not just a “sign off”, as is the case with many competitors, but a full recommendation report covered under the Financial Conduct Authority legislation and appropriate Professional Indemnity Insurance.

We deliver non-contingent advice only. We do not offer a so-called “integrated” solution, because of the obvious and clear conflict of interest. If there is no independence between the UK team and the Australian team then there is a clear incentive to only advise a transfer out. The UK Financial Conduct Authority reviews these relationships very unfavourably. As do we.

We maintain an arm’s length relationship with our panel of UK advisers whilst ensuring our services combine seamlessly from an administration only perspective.

With an unmatched level of practical, relevant experience in the UK and the appropriate qualifications we have an unrivalled ability to ensure the reports from the UK are both accurate and reasonable. We can explain in great detail to any client the reasoning and meaning behind any of the report features.

 

Client under age 55?

If you have a client under age 55 they will not be able to transfer their UK fund to Australia under current rules.

Just as with any Australian client with expensive, numerous or poorly performing super funds or inappropriate levels of insurances, UK pension funds also require regular reviews of fund charges, investment selection and performance, death benefits etc. We are in a position to advise your clients to ensure they maximise their retirement income.

It is a mistake to assume that because your client is under age 55 that they should not undertake a review of their UK pension fund.

We are licensed to recommend a UK based Self Invested Personal Pension, create an appropriate investment portfolio and advise on this until the client is age appropriate to transfer, either in whole or in part, to the Australian superannuation system.

The state of art platform that we utilise is able to invest in either AUD or GBP so your client is not disadvantaged by fluctuations in the foreign exchange market.

 

Client over age 55?

If your client is over age 55 they may be recommended to transfer their UK pension funds to Australia via an appropriate fund with QROPS status.

We deliver a fully advised service incorporating factfinding, data gathering and fund liaison, tailored recommendation report including vital tax calculations and all the implementation procedures from end to end.

Our UK associate delivers (if required):

  • Initial assessment with existing UK pensions fund and data gathering (complimentary)
  • Advice concerning the appropriateness of transferring the pension fund to Australia
  • The equivalent Statement of Advice (Suitability Letter) with bespoke recommendations tailored to your client’s own needs and objectives
  • Full compliance and Professional Indemnity Insurance cover

 We deliver:

  • Client access to a UK expat with over 20 years UK Pension transfer expertise and qualified to Certified Financial Planner® status in both Australia and the UK
  • Access to both AUD and GBP investment options using a market leading platform
  • The Statement of Advice for the Australian scheme, with or without investment recommendations depending on the scope of the advice required
  • Full implementation service
  • Accurately calculated Applicable Fund Earnings for both Defined Benefit and Defined Contribution style pension funds incorporated into the initial advice document
  • A compliant QROPS SMSF and a Letter of Authority for you to then advise your client accordingly
  • If you do not have SMSF accreditation we can also offer this ongoing service, if required

You are now able to:

  • Meet your Best Interests Duty
  • Build on your professional reputation
  • Provide your client with a personalised advised service
  • Ensure your client is protected under UK financial services regulations and Australian regulations with investor protection under both systems being the most comprehensive in the financial world
  • Manage your client’s SMSF in Australia (while maintaining QROPS compliance)
  • Be compensated where you would normally have to decline the client request for advice

As financial advisers ourselves, we understand the importance of maintaining continuing client relationships and will have the appropriate agreements in place before any work is carried out so that you continue a long-term relationship with your client.

Once any transfer has been completed, we will work with you to protect your long term client relationship with the client so you can help manage their enhanced level of funds under advice in Australia.

Please call or email us for more details, we would especially be delighted to discuss this service proposition with IFAs and dealer group compliance and research managers.