'A problem at the very top': Adviser campaigns for better overseas advice guidance

When is it safe to say the QROPS solution is the right solution?

Isabel Baxter
clock • 5 min read

A financial adviser has called for the Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) to improve overseas guidance and has highlighted how ensuring a client is happily settled in the country of choice adds to the complexity of qualifying recognised overseas pension scheme (QROPS) transfers.

Speaking to PA, Montfort managing director Geraint Davies argued that there needs to be greater clarity around settled status, and when QROPS becomes a valid solution for a client. Davies has been in contact with Conservative MP for Godalming and Ash Jeremy Hunt's team to improve standards and disclaimers. A meeting between Davies and Hunt took place on 6 October. "We have been firing shots in different directions," Davies said. "QROPS are complex – what is even more complex is ensuring that the solution fits the situation." "The big question is suitability – when is it safe to say...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

UK pension funds join forces with government to launch Sterling 20 initiative

UK pension funds join forces with government to launch Sterling 20 initiative

Chancellor joins 20 pension providers and insurers to drive growth across the UK

Holly Roach
clock 20 October 2025 • 5 min read
IHT on pensions pre-55 slammed as 'brutal'

IHT on pensions pre-55 slammed as 'brutal'

HMRC confirms those under minimum pension age will see IHT applied on their pots

Isabel Baxter
clock 12 August 2025 • 2 min read
QROPS class actions: What next for frustrated UK expats?

QROPS class actions: What next for frustrated UK expats?

Calls for reform across the board as insurers fight back in IoM

Isabel Baxter
clock 29 May 2025 • 7 min read