Close confirms taking a step closer to launching US QROPS following research which has provided it with "a hypothesis for a workable proposition."
However, Rex Cowley, Head of Products and Services, warns that due to the nature and complexity around delivering what he calls “a robust solution”, the entry limit for this product will be $300,000.
Currently, Mr Cowley’s team are looking into avenues regarding distribution to determine demand, a process he expects to take around two months. “If this result is positive we will look to construct a separate scheme for this market,” confirms Mr Cowley. www.closeqrops.com
Taking the time to look
After 14-month FAS programme
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, research from Legal & General (L&G) has found.
Rebranded from OMW
Number of benefits