Capital Platforms director Peter Williams said the self-invested personal pension (SIPP) would complement the firm’s existing range of QROP schemes and other retirement products, by giving advisers and their clients an alternative to transferring pensions out of the UK well ahead of the draw-down phase, which may be a more cost-efficient solution for the client.
The Brooklands SIPP is available on a stand-alone basis or via Friends Provident or Royal London 360° investment bonds, Williams said.
Whether arranged as a stand-alone SIPP or invested through a life bond, advisers, on behalf of their clients, are able to take advantage of Capital’s “extensive” range of open architecture funds, and “provide them with ongoing management tools to complement their choice of investment structure”, Williams added.
Brooklands, which operates globally and has its administrative operations in Dubai, claims to be the only internationally-operative pension provider regulated by the UK Financial Services Authority that is able to offer a multi-jurisdictional QROPS range as well as a UK SIPP product.
As reported, Williams and his current business partner, Justin Barrett, launched Capital Platforms earlier this year, after almost nine years running Boston Direct Management, another Singapore-based platform provider which they also founded, along with two other partners who are no longer involved in the business.
Williams said he and Barrett decided to form Capital Platforms after a three-year agreement that they had with Boston Direct Management to “run” the deVere Group’s platform business globally ended in December 2011.
They are being joined in their new venture by all of the staff who had worked for them at Boston Direct, as well as around 50 advisory clients, located mainly in Southeast Asia but also in such markets as the Middle East, Africa, Europe and Russia.
They initially founded the company to provide white-label platform services to financial advisers based in Asia and beyond.
