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Andrew from Vista Financial

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Andrew from Vista Financial last won the day on January 20

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About Andrew from Vista Financial


  • Biography


    Financial Planning

     Diploma in Financial Planning (2008);
     Certificate in Financial Planning FPC 1,2,3,4 (UK)
     Margin Lending and Geared Investments (2010);
     ASX Accredited Listed Product Adviser (ALPA) 2010;
     Advanced Diploma in Financial Planning (2011);
     Self Managed Super Funds (2012);

    Mortgages / Home Loans

     Diploma (Finance/Mortgage Broking Management);
     Certificate In Mortgage Advice & Practice (UK).
     Certificate IV (Finance/Brokering)


    Member of the Association of Financial Advisers (AFA);
    Member of the Mortgage and Finance Industry of Australia (MFAA);
    Member of the Credit Ombudsman Services

    Andrew’s career in the Financial Services Industry began in early 2001 when following a year of travelling Australia and Asia he commenced employment with a leading UK Bank, Alliance and Leicester as a Trainee Branch Manager.

    As a Trainee Branch Manager Andrew had to learn all aspects of work within the Branch and within six months Andrew had progressed to the role of a Mortgage Adviser and assisted clients with their Home Loan needs.

    Twelve months later Andrew had progressed to the role of Branch Manager and was awarded Top Branch Manager in the Country for Alliance and Leicester in 2003 and 2004.

    By late 2004 Andrew left Alliance and Leicester and began his career with another leading UK Bank, NatWest. Andrew started out as a Financial Planning Manager but quickly realised his passion lie with dealing directly with the public and with providing clients with quality Financial Planning Advice.

    Andrew qualified as a Financial Adviser in early 2005 and went on in the following two years to become one of NatWest’s top performing UK Financial Planners continuously earning recognition through numerous service awards.

    Andrew left NatWest in October 2007 to migrate to Australia and upon arrival immediately undertook the Australian Diploma in Financial Planning qualifying him as a Financial Adviser so that he could continue in his chosen profession.

    Andrew started his Australian career in a Private Practice and in early 2008 quickly completed his Certificate IV in Mortgage Broking qualifying him also as a Mortgage Broker.

    It became apparent very quickly that there was a lack of quality advice in the market for UK Expats and Andrew developed a niche in assisting UK Expats which proved to be very successful and enabled Andrew to start his own private Financial Planning and Mortgage Broking practice, Vista Financial Services in early 2009.

    Vista Financial Services has gone from strength to strength and Andrew has assisted countless Expats transfer their UK Pensions, purchase their first Australian homes and arrange and implement their financial planning affairs.

    Andrew has continued his professional development whilst in Australia and has gained extra qualifications to enable him to offer a broader service to his clients including his Advanced Diploma in Financial Planning (Adv DipFP), ASX Listed Securities Accreditation, Margin Lending Accreditation and more recently Self-Managed Super Fund (SMSF) Accreditation.

    Vista’s value proposition is to provide quality advice with no compromise and customer service that exceeds expectation.
    This ethos has proven to be Vista’s greatest success as Vista has been built on the back of referrals from existing clients that have experienced first-hand the service and advice that Vista offers.

    Andrew has a real passion for Financial Planning and continues to update his knowledge and engage in exams and qualifications that will further this knowledge and development enabling him to provide ongoing quality advice specific to his clients needs.

    Financial Planning Services are provided by Andrew Williams as an Authorised Representative (322874) of Professional Investment Services (Australian Financial Services Licence No: 234951, ABN 11 074 608 558). Mortgages and Home Loan services are provided by Andrew as a Credit Representative (of Australian Loan Company (ACL 377711)

    Vista Financial Services Pty Ltd, ABN 70 135 609 022.


  • Location
  1. Hello Yasir No they are not and have not been since 1 July 2015 (although officially ceased being a QROPS on 6 April 2015). Regards Andy
  2. Hi there Whether it is worth her starting it up again would depend on a number of individual circumstances and is not a one size fits all answer I'm afraid but my answer to your second question may (or may not) help. Typically access to private pensions in the UK is not allowable until age 55 even if you are moving to Australia. It is possible to transfer UK Pensions to Australia however since April 2015 Australian Superannuation (Pension) legislation does not align with UK Pension legislation predominantly this being the age at which money can be accessed and therefore it is now only possible to transfer UK Pensions to Australia now once a person is over age 55. Hope this helps (a bit) Kind regards Andy
  3. Hello it will remain under the control of the NHS pension scheme trustees and at your applicable scheme retirement age you will be able to draw on the pension benefits that you have accrued whilst you were an in service member which will then be indexed each year typically in line with inflation. Regards Andy
  4. HMRC has re-released the Recognised Overseas Pension Scheme (ROPS) list released following the temporary suspension it put in place on 14 April. This follows the March UK budget where vast changes to the QROPS system were made and so required Scheme Managers of QROPS to essentially reconfirm in writing to HMRC that they remain QROPS by the 13 April. The new list is here: https://www.gov.uk/government/publications/list-of-qualifying-recognised-overseas-pension-schemes-qrops/list-of-recognised-overseas-pension-schemes-notifications#australia The sole Australian Retail Scheme has again appeared on the new list which as a reminder is exclusive to members age 55 and over. Regards Andy
  5. Hello Ruth It is becoming increasing difficult (dare I say ALMOST impossible) to get a mortgage in Australia using foreign income to service it. As far as I am aware Citibank seem to be the only lender considering foreign income currently (there could be others smaller/alternative lenders, not sure).
  6. Hello I believe this is the form you are referring to (APSS253): https://www.gov.uk/government/publications/pension-schemes-payments-in-respect-of-relevant-members-apss-253 That said I believe that only the first pension income payment is reportable and it does not have to be reported annually. Other types of payments such as lump sums and transfers to other QROPS/Non QROPS have to be reported as and when they occur of course within the reporting period. KR Andy
  7. Hello Cressy I know which funds are on the ROPS list https://www.gov.uk/government/publications/list-of-qualifying-recognised-overseas-pension-schemes-qrops/list-of-recognised-overseas-pension-schemes-notifications#australia however this is not as simple as it seems as most of these are Self-Managed Super Funds with a few government schemes and one public offer scheme. The all important question Cressy is probably how old you are in the first instance as if you are under age 55 it is very unlikely you will be able to transfer a UK pension to Australia anyway. Regards Andy
  8. Hi David Sounds to me like a low cost super with a multi-asset investment fund option might make sense in a situation like this (however see below re moving to UK). You will just need to make sure it is invested in a risk profile you are comfortable with but if you have a 25 year investment time horizon then typically a fairly assertive option would make sense (as you would if investing in a UK pension). With a low cost super fund there are typically two charges that apply. Firstly a member charge which will be around $100 annually (give or take), this is paid to the Trustees/Administrators of the Super Fund to cover their costs of running the scheme. This is an explicit fee meaning that you will physically see this coming from your balance of money (it will appear on your transaction history in a statement or when you view online). Secondly there will be an investment management fee, this is paid to the investment manager for making the investment decisions and managing the pot of funds in that particular investment, the management fee is known as the MER, management expense ratio. This is an implicit fee meaning that you will not physically see this fee coming out of the balance of your money and returns are declared net of this fee being deducted. I will give an example of this based on C-Bus as you have mentioned them (NAB have a number of super funds so not sure which one exactly you are referring to). Firstly the annual admin fee is $78, secondly the MER for their default investment option being the Growth fund (which is a multi-asset option which is fairly assertive) is 0.84%. The below gives details of their past performance to Feb 28 2017, note that the 0.84% has already been deducted. 1 month (%) Since 30 June (%) 1 year (%) 3 year p.a (%) 5 years p.a (%) 10 years p.a (%) Growth (Cbus MySuper) 0.90 7.42 12.53 8.46 10.66 6.02 Therefore in this case so long as the returns achieve more than $78 dollars a year and 0.84% per annum you monies will not go down (assuming no contributions are being made), looking historically at investment markets for an assertive investment option over the long term returns on average would be 7%-8%+. Now given your circumstance David a couple of points to note. Firstly, as you are Self-Employed it is not compulsory to make super contributions: https://www.ato.gov.au/Business/Super-for-employers/Working-out-if-you-have-to-pay-super/The-self-employed/ Secondly, if you do then there will be no tax benefit to doing so unless you claim a tax deduction on the contribution and this may or may not be beneficial for you to do depending on what your taxable income will be for that financial year: https://www.ato.gov.au/Individuals/Super/In-detail/Growing/Claiming-deductions-for-personal-super-contributions/ Thirdly given that you have said it is likely that you will be moving back to the UK in a few years perhaps consider making payments to a UK pension fund instead, you may be able to get tax relief on your contributions (up to a certain amount anyway) and that way when you move back you could just continue paying into that scheme. Hopefully my comments are food for thought David and please do take them as general comments only. Good luck.
  9. Hello Again apologies for the delay. Regards your second question if someone is a permanent resident then typically pension income from the UK should be taxed in Australia with the UK paying it gross, however note that lump sums are treated differently to income from an Australian perspective. However you asked about a transfer to Australia and if it was easy....a transfer to Australia can be done for over 55s now but a fair bit of analysis will be required to see if it is right for you.....if it is only a small pot it could be just as beneficial leaving it in the UK depending on what you wish to do with it/when you wish to withdraw it and how. Also if transferring to an Australian QROPS new rules may or may not (again depending on your plans for taking benefits and amounts withdrawn) have an impact on you: https://www.gov.uk/government/publications/qualifying-recognised-overseas-pension-schemes-charge-on-transfers/qualifying-recognised-overseas-pension-schemes-charge-on-transfers Particularly: Payments out of funds transferred to a QROPS on or after 6 April 2017 will be subject to UK tax rules for five tax years after the date of transfer, regardless of where the individual is resident These announcement are still very fresh and there are areas that seem to be unclear in relation to the workings and finer points. Regards Andy
  10. This looks like it will impact on Australian resident UK expats who might wish to transfer their UK pension to a QROPS that is not Australian domiciled. https://www.gov.uk/government/publications/qualifying-recognised-overseas-pension-schemes-charge-on-transfers/qualifying-recognised-overseas-pension-schemes-charge-on-transfers
  11. Hello Sorry for the delay, I'll reply tomorrow, I've got family over from the UK at the moment so have not been in the office much lately
  12. I do not believe so as understand it is property specific unfortunately. Yes it is unfortunate as a temporary resident that this is now the case. We have always recommended Houspect to our clients: http://www.houspect.com.au/sa/
  13. Hello Unfortunately so. Other points to be aware of particularly with auctions.........you cannot make it a conditional offer and so whilst you may have a pre-approval in place this is not guaranteed. For example the price you agree to buy it for is not necessarily the price the bank will agree (there isn't too much of this happening in Adelaide at the moment but it is still possible) therefore given as a temporary resident banks will typically lend up to 80% max the end loan to value may be higher and that means you would have to find the difference. ANZ will give pre-approvals with lots of subject to be evidenced, I'd make sure other than the property itself there are no other subject to's. Also you should consider a building inspection beforehand so you know what you are playing with. I always advised my clients to tread very carefully when considering buying at auction even more so if temporary residents. Regards Andy
  14. The reason behind it is that the monies in your UK pension have received UK tax relief from HMRC SO they want to ensure that you use the pension for the purposes of retirement which is why the tax relief has been given. You could consider transferring to a non QROPS (theoretically it's possible how realistically your pension provider would not allow it to protect you) but in this case HMRC would tax you on the basis that they are taking back the tax relief they gave as the scheme you are transferring to may allow access before retirement (which in Australia's case is the issue and reason they essentially lost QROPS status). They are more than happy to allow a transfer if it goes to a scheme that does not offer access before retirement and that scheme is a QROPS without taxing you. P.S HMRC's reasoning not necessarily mine
  15. Hi Johnny How old are you? It's not the UK tax man stopping it as such, he is willing to let it be transferred so long as the accepting scheme meets similar rules to the UK scheme particularly around age of access. In this case it's the Australian Superannuation rules stopping it. There are Australian over age 55 solutions available to the public and there are Australian under age 55 solutions available to certain government workers. I am also in the midst of looking at an all age solution for Australian residents which could be the missing piece although I am going through the due diligence process and seeking tax advice on the solution to ensure we are fully aware of all implications. I'll post as soon as I feel satisfied............watch this space. Regards Andy