New service to help advisers transfer UK pensions
Fortuna Partners has launched an independent pension transfer service to help Australian financial advisers transfer client pensions from the UK to Australia.
Pension Porter aims to connect financial advisers in Australia with a qualified pension transfer expert in the UK to deal with the complexities and tax issues involved.
Pension Porter principal Brandt Page said transferring pensions could chew up a lot of time and resources for advisers in Australia, yet the rewards of transferring pensions meant they would have greater share of the client’s portfolio to advise on.
Page said one of the key differences of the service was that it was independent.
“Unlike other services available, we aren’t operated by an Australian financial planning practice so we have no interest in poaching the client,” he said.
The services connects Australian advisers with an authorised pension expert in the UK who then designs a tailored strategy for the client based on their particular circumstances, and then manages the UK activities.
The Australian adviser assumes responsibility once the funds are in the Australian superannuation scheme, and the client only deals with the Australian adviser to ensure continuity.
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