Four steps to finding the right QROPS advice

Searching for QROPS advice on the Internet is like looking for a needle in a haystack when Google returns 82,700 responses to the keyword ‘QROPS’ in 0.14 seconds.

The odds are that:

• A huge proportion of the advice is out of date
• Much is inaccurate although probably well meaning
• Many sites are sales pitches
• A percentage is downright misleading

So how does someone looking for QROPS advice find reliable information on the web?

Step 1 - Get your own act together

For an advisor to give you relevant advice that suits your personal financial needs, you must start a folder with details of your savings, investments and retirement funds.

Step 2  - Find the right advisor

QROPS are specialist retirement and investment plans that need tailoring to your needs by independent financial advisors who have knowledge of the QROPS market.

The key questions are:

• Are you an independent financial advisor?
• Do you have access to every QROPS product worldwide as a ‘whole of the market‘ advisor? Currently about 1,500 providers offer the schemes in dozens of different countries.
• Do you have knowledge or access to cross-border tax advice relating to income tax, capital gains and inheritance tax?
• Does the Financial Services Authority regulate you to give advice to UK nationals or international workers in the UK?

The answers to each question must be ‘Yes’. QROPS Adviser cover tick all the above!

Step 3- Benchmark your current financial standing

Using the information above and discussing your financial goals and attitude to investment risk, QROPS adviser can find the right QROPS scheme to suit you.

Step 4 - Don’t get strangled in red tape

QROPS Adviser will be working on your behalf to make the administration of setting up your QROPS go without a hitch.