Typical clients from UK adviser firms include UK expats (including those living in the US with pensions); UK inpats looking to hold their assets offshore but in a safe environment; UK resident clients with multi-currency requirements (currency FX charged at just 0.07 per cent) or with assets already held offshore; offshore trusts and Qrops holders looking for platform-based management of their assets or looking to alleviate Lifetime Allowance concerns.
With regulation around the world changing to RDR-style regulation, where transparency and a service-based model rather than a sales model become the norm, the platform way of doing business is beginning to take off and will increase rapidly in the next few years.
Paul Boston is sales director at Novia
