QROPS Bureau unveils trust and estate planning service

The Qrops Bureau, an Isle of Man-based advisory service that helps mainly UK advisers with their pension transfers, has launched a trust and estate planning service, also for advisers.

The new service, called QTEPS, aims to provide advisers with independent technical support in these areas of planning, the company said, in a statement this week.

The company said it will help advisers to use a fact-find questionnaire to produce a suitability report for each client, which reviews that individual’s circumstances and recommends for them an appropriate trust product for them from a panel of trust providers “across various jurisdictions” that the firm is currently putting together.

“The service will be delivered using the solutions-based approach that advisers have become used to from The QROPS Bureau,” it added.

QTEPS is being headed up by Bob Easton, who recently joined the QROPS Bureau as head of trust and estate planning. A member of the Society of Trust and Estate Practitioners and the Chartered Institute of Savings and Investment, among other professional affiliations and qualifications, he remains managing director of Isle of Man-based 3D Professional Services Ltd, which provides a range of services  in the area of  of offshore products and services and consultancy services to investment professionals and financial intermediaries.

However, he will be based in the UK, where he is also a partner in Capital Growth Solutions. Prior to his involvement with these enterprises Easton held senior technical roles at a number of offshore life companies, including Scottish Provident International, where he was head of technical services.

‘Clients not doing enough’

In its statement unveiling the new service, The QROPS Bureau cited “recent press coverage” that it said “suggests clients are not doing enough to plan to protect their estates for their beneficiaries”, and that there is therefore “a clear opportunity for advisers to raise the need for advance planning with their clients”.

The suitability reports will cost £1,000, and will include “comprehensive due diligence in respect of the recommended provider”.

Chartered tax adviser input will also be available at additional cost, The QROPS Bureau said.

The QROPS Bureau was launched by David White, pictured left, and Andrew Dobson in 2009, with the aim of providing UK advisers with a specialist service in handling QROPS, QNUPS and other types of international pension transfers.

As reported in February, the QROPS Bureau was recently added to the brand stable of Provisca, the international distribution business launched last August by Nigel Watson and Bryan Low, two veterans of the cross-border financial services industry.

In announcing the tie-up, they said they would help bring The QROPS Bureau’s  “UK standards” to the international QROPS industry, by making the Bureau’s expertise in the area of overseas pension transfers available to financial advisers and wealth managers outside of  the UK.

ABOUT THE AUTHOR
Helen Burggraf
Helen Burggraf is the editor of International Investment. A US-trained journalist, she has worked in Rome, New York City and London, covering everything from the fashion and retailing industries to the global drinking water and water-treatment sector, private equity, and most recently, the international cross-border financial services/advice industry.

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