Ten industry views on the Qrops hammer blow
By Mark Battersby, 10 Mar 17
As the week comes to an end in which the Spring Budget slapped a surprise 25% overseas pension transfer charge in particular circumstances, here are the views on what it means from a cross section of the industry.
Geraint Davies, managing director of Montfort International, says:
“Nationals of other countries living in the UK will need specialist financial advice now more than ever.
“Suitability reports will need to be so robust going forward regarding Qrops and pension funding. They must consider exit strategy advice as important.
“Expect the FCA to be watching this advice with eagle and suspicious eyes where it involves anybody who could potentially depart the UK.
“The devil will be in the detail.
“Qrops floggers are about to be flogged with Hammond’s cat of nine tails.
“Watch with interest how overseas advisors react, their heyday has just seen the sun set.”
