Have you been mis-sold a QROPS? Are you currently in a Maltese or Gilbrator QROPS but don’t know why and are now locked in with expensive annual management charges and penalties for leaving your current investments.
Unfortunately here at Harrison Brook, we receive numerous QROPS complaints from more and more clients who have unnecessarily been missold a QROPS, purely for their financial adviser’s benefit.
When is a QROPS the right choice?
Firstly, there is a scenario when a QROPS is a right choice; WHEN:
- Reaching your lifetime allowance (currently £1,000,030.00) utilising a QROPS is highly recommended due to No Lifetime Allowance (LTA) cap.
- Wanting to drawdown 30% lump sum tax-free – note that you can only take 30% PCLS if you have completed the required period outside the UK.
- Full ‘Flexi-Access Drawdown’ available – complete flexibility how you draw down and take income from your scheme – ONLY in Malta or via a SIPP in the UK.
When is a QROPS not the right choice?
- if you are a non-EEA resident, you would be subject to the QROPS OTC charge (25% tax charge).
- You have always lived in the UK.
- Your pension value is low and therefore the high annual costs are crippling.
- You want to invest only in ‘UK Standard Assets’ i.e Investment regulated through the Financial Conduct Authority (FCA) (The highest level of regulation).
What Can you do?
If you hold a QROPS pension policy and are disappointed with the performance or fees then Harrison Brook can help. Speak to a specialist independent financial adviser to discuss the options available to you. Have a free full holistic report done on your financial position. As a result, see how your money can start working much harder for you.
WHY SPEAK TO HARRISON BROOK?
- Reduced fees – allow us to scour the market and find the best solutions available for your requirements. Reduced fees are likely to be just one aspect of this.
- Portfolio management – we will analyse your existing position and adjust accordingly where the performance is not as required. Smoothing out any problem areas that currently exist.
- Worldwide reach – Regulated to the highest standards throughout Europe meaning if you choose to move countries in the future we can continue to advise you on all financial matters.
- Quarterly online review service – A full client portfolio review every three months.
- Top rated on Independent Review site Feefo.
- Transition pension over to a low-cost investment platform.
WHERE DO I START?
Click get started and speak to an adviser today. Harrison Brook is the leading international transparent ‘fee’ based broker of expatriate financial services, products, and financial advice. Contact us today!