Timothy J Wilson Posted February 11, 2020 Share Posted February 11, 2020 Hi I would like to know any recommendations for companies that do pension transfers from UK to OZ, I have found 2 . Holburn Assets and Finsec. Has anyone had dealings with them or can recommend any others it's difficult to find impartial advice. I'm based in Brisbane I would be grateful for any advice. Tim Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted February 12, 2020 Share Posted February 12, 2020 Hi Tim From what I understand Holborn are not Australian regulated and so I am not sure how they would be able to recommend an Australian Super (unless they have recently gained Authorised Rep status with an Australian Financial Services License (AFSL)), they may work in conjunction with an Aussie Adviser. I thought that Finsec were Adelaide based, as are we, I wasn't aware they had offices in Brisbane but you seem to have found one? Is your situation complex or reasonable straight forward. Straight forward would be that you are over age 55, have a defined contribution scheme and your pension balance/s is/are under $300,000 (excluding any applicable fund earnings). Complex starts from anything that doesn't fit in the above and those complexity levels differ depending on other factors (larger balances probably the biggest factor). In terms of impartial if your case is straight forward there really should not be too much to worry about when it comes to being impartial as there are not many alternatives if a transfer to Australia is going to occur, it would have to go to either the only Retail (QROPS) Super Fund in Australia or a Self-Managed Super Fund and if your balance is under $300,000 it's unlikely a SMSF is going to be appropriate anyway. The other thing regards being impartial, Australian Financial Planners are not permitted to take commissions from Super/Investment products so this will be good for peace of mind, they are also not able to act for you if there is any danger of a conflict. There are a few Advisers in Australia that do offer advice in this area, way more than the two you have named but in the grand scheme of things they are quite limited in proportion to the amount of Advisers in Australia, obviously if you are looking to deal with a local firm that will cut numbers down again. Hope this helps. Andy Quote Link to comment Share on other sites More sharing options...
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