2nd Opinion

We are often contacted by individuals who are concerned about the advice they have received and/or the investments they hold.

Second Opinion Advice

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Why choose S&P?

Mr & Mrs ABC, France

Requirement:

  • A review of the planning in place
  • A review of the two QROPS arrangements in place, which have held a static value
  • Retirement goal setting and gap filling

In order to advise these clients, we initially researched fully the QROPS arrangements in place and the investments held within them. These clients had transferred a large amount of pension wealth into QROPS upon the advice of an unregulated consultant, and invested into a number of unregulated, high risk and 100% equity exposed ‘structured notes’ which show a static value due to their configuration. The cash accounts within the QROPS showed a negative value due to the ongoing annual costs being applied.

Until maturity, the success of structured investments is uncertain and unclear but we were able to gain a ‘secondary market value’, allowing the clients to have the option to liquidate their funds, at a modest loss, and instead invest into a sensible, well balanced and well diversified mixed asset portfolio carrying much less investment risk.

Due to recent QROPS legislation, unregulated advisers, or international advisers without MiFID permissions can no longer service Maltese QROPS arrangements. S&P hold the required Maltese licencing and therefore we are uniquely positioned to take over existing plans and improve upon poor investment strategy.

While this couple believe they have ‘lost out’ in terms of missed growth in recent years, they are now comfortable with understanding their plans, have online access to ‘live’ and true valuations of their pensions, and have a strong long-term pension savings strategy in place to achieve a comfortable retirement.

Cost: As this case involved no new investment wrappers or financial products, following our initial assessment and recommendation, we implemented the changes and applied an agreed fee to the existing pension funds for our initial and ongoing advisory services.

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