Boal & Co has teamed up with fellow award winner Skandia International to give financial advisers preferential access to Boal & Co’s ‘Select’ Isle of Man QROPS, with the advantage of a streamlined new business process.
The news comes after Boal & Co was named ‘Best International Specialist Pension Provider’ at the 2012 Professional Adviser Awards earlier this month, at which Skandia enjoyed a double success, winning recognition for ‘Best International Life Group’ and ‘Best Service Initiative’.
Gary Boal, Managing Director at Boal & Co, says:
‘It’s exciting to be joining marketing forces with Skandia International. Both companies have a strong Isle of Man heritage, and both are independently recognised for the excellence of what they do. Skandia has a fantastic international presence and a very strong commitment to the QROPS market, and between us we make a formidable proposition.’
Skandia International, the offshore business of Old Mutual plc, says that the approach of teaming up with select QROPS providers will offer preferential pricing terms and provide advisers with QROPS arrangements to allow them to meet the individual needs of their clients.
Rachael Griffin, head of product law and commercial development at Skandia International, explained: ‘Teaming up with Boal & Co will ensure that the application and ongoing administration processes for the “Select” Isle of Man QROPS are greatly simplified, reducing the burden on both advisers and their clients. The arrangement works by utilising the Skandia International offshore bonds as investments vehicles to house the underlying assets.’
Rachael added: ‘We are delighted to be joining forces with the Isle of Man’s leading QROPS provider, and are confident that our collective capabilities in our respective area of expertise will be of benefit to advisers and make this proposition a great success.’
Teaming up with Skandia is the latest chapter in Boal & Co’s expanding Isle of Man pensions business. The firm recently announced the landmark of more than $1 billion in client pension funds, and its 20-strong pensions team is now preparing for further growth as a result of joining forces with Skandia.
