Go Back  British Expats > Living & Moving Abroad > Canada
Reload this Page >

Alexander Peter Wealth Management: any comments?

Alexander Peter Wealth Management: any comments?

Old Nov 22nd 2019, 1:32 pm
  #46  
Forum Regular
 
Joined: Dec 2011
Posts: 182
Otto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

Originally Posted by CliveSD View Post
Maybe I have mis-understood the idea of this forum, as I thought the idea was to help people with queries they have and not for others to argue over each point. I was trying to be constructive and assist with a query. The restriction point, for example, is that HMRC added age restrictions when the same situation arose in Australia and people need to understand the rules are not the same as Canadian pension rules.However, you are right, I do advise in this area (and others) but your comment about a 5-day course is just 35 years out and I am fully UK qualified. Don’t forget that transfers with guarantees required qualified UK advice, so some firms do have access to the whole market, but I still don’t know of a platform provider charging 0.2% to non-residents, so in the spirit of the forum, if you do, why not share the info with everyone as the argumentative path on every point isn’t really going to help people.Certainly, insurance Bonds are used for commission and I stated that clearly, but this is disclosed as per FCA and Isle of Man regulations and they get a choice of fees or commission. As I said ‘horses for courses’ and my experience is that half of people choose commission when it’s done properly, because not everyone likes up front fees.
If you want to help people, provide factually correct information.

Indeed, pension rules in Canada are different to Australia. This is why I posted comments from two recognised experts earlier in this thread.

The UK (ie via the FCA) does not allow commission to be paid to intermediaries and has not done so since 2012. Any FCA regulated firm that offers such a choice won't be trading for long. Why would anyone move their UK pension funds to the Isle of Man, let alone an insurance policy? The funds are not covered under the Compensation Scheme and the Policyholder Protection scheme does not cover fund failures - unlike the FSCS in the UK. The losses suffered by investors, because of failed funds held within Isle of Man wrappers, run into the tens of millions of pounds.

Factchecking is not being argumentative and what is fully UK qualified?
Otto The Squid is offline  
Old Nov 22nd 2019, 4:12 pm
  #47  
Just Joined
 
Joined: Nov 2019
Posts: 13
CliveSD is an unknown quantity at this point
Default Re: Alexander Peter Wealth Management: any comments?

and the answer to the 0.2% platform for non-residents was?
CliveSD is offline  
Old Nov 22nd 2019, 4:43 pm
  #48  
MODERATOR
 
Siouxie's Avatar
 
Joined: Apr 2009
Location: SW Ontario
Posts: 16,803
Siouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

Originally Posted by CliveSD View Post
Maybe I have mis-understood the idea of this forum, as I thought the idea was to help people with queries they have and not for others to argue over each point. I was trying to be constructive and assist with a query. The restriction point, for example, is that HMRC added age restrictions when the same situation arose in Australia and people need to understand the rules are not the same as Canadian pension rules.However, you are right, I do advise in this area (and others) but your comment about a 5-day course is just 35 years out and I am fully UK qualified. Don’t forget that transfers with guarantees required qualified UK advice, so some firms do have access to the whole market, but I still don’t know of a platform provider charging 0.2% to non-residents, so in the spirit of the forum, if you do, why not share the info with everyone as the argumentative path on every point isn’t really going to help people.Certainly, insurance Bonds are used for commission and I stated that clearly, but this is disclosed as per FCA and Isle of Man regulations and they get a choice of fees or commission. As I said ‘horses for courses’ and my experience is that half of people choose commission when it’s done properly, because not everyone likes up front fees.
This thread is about QROPS - people who DO want to move their pensions over, so going on about UK investments is a waste of your time (and ours).

If it's your intention to 'tout' for business, please note that this isn't the place to do so. You are most welcome to stay and participate in our forums but do make sure to read the site rules

There have been age restrictions on drawdown of QROPS for years.. it's not something new!

Last edited by Siouxie; Nov 22nd 2019 at 5:00 pm.
Siouxie is offline  
Old Nov 22nd 2019, 5:04 pm
  #49  
Just Joined
 
Joined: Nov 2019
Posts: 13
CliveSD is an unknown quantity at this point
Default Re: Alexander Peter Wealth Management: any comments?

Thanks Siouxie; the interest in the site was to help with queries, a Canadian client recommended it as he got info from the site. I'm not touting, but I am getting familiar with things and it would seem that some contibutors like to nit pick! But I'll bear that in mind going forward ;-)
CliveSD is offline  
Old Nov 23rd 2019, 6:17 pm
  #50  
Forum Regular
 
Joined: Dec 2011
Posts: 182
Otto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

Originally Posted by CliveSD View Post
and the answer to the 0.2% platform for non-residents was?
You are the fully UK qualified adviser, with 35 years' experience, you should know your market. (BTW, I have sent the link to the firm and the charges to a moderator, just so that it is clear that I did not make it up)
Otto The Squid is offline  
Old Nov 23rd 2019, 6:29 pm
  #51  
SUPER MODERATOR
 
christmasoompa's Avatar
 
Joined: Oct 2007
Location: In a darkened room somewhere.............
Posts: 28,459
christmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond reputechristmasoompa has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

Originally Posted by Otto The Squid View Post
You are the fully UK qualified adviser, with 35 years' experience, you should know your market. (BTW, I have sent the link to the firm and the charges to a moderator, just so that it is clear that I did not make it up)
Unless it's your own firm, feel free to put it on the forums please - that way all can benefit.

Thx.

Last edited by christmasoompa; Nov 23rd 2019 at 6:34 pm.
christmasoompa is offline  
Old Nov 24th 2019, 8:50 am
  #52  
Forum Regular
 
Joined: Dec 2011
Posts: 182
Otto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond reputeOtto The Squid has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

Originally Posted by christmasoompa View Post
Unless it's your own firm, feel free to put it on the forums please - that way all can benefit.

Thx.
It is a B2B platform, access to it is via an IFA that is FCA regulated in the UK.
Otto The Squid is offline  
Old Dec 2nd 2019, 5:51 pm
  #53  
Just Joined
 
Joined: Nov 2019
Posts: 13
CliveSD is an unknown quantity at this point
Default Re: Alexander Peter Wealth Management: any comments?

So do we have these details yet? Meanwhile, I've asked IA about their ROPS 4 times and no answers yet - so can't say I'm impressed with that!
CliveSD is offline  
Old Dec 2nd 2019, 11:01 pm
  #54  
BE Forum Addict
 
Hurlabrick's Avatar
 
Joined: Apr 2013
Location: London, ON
Posts: 2,088
Hurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond reputeHurlabrick has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

The B2C platform, Nucleus, have a wrap charge of 0.175% for investments between 0.5 and 1.0m (can count married couples investments as combined). I daresay this is not the B2B outfit Otto is talking about though, just my own personal experience.
Hurlabrick is offline  
Old Dec 2nd 2019, 11:34 pm
  #55  
MODERATOR
 
Siouxie's Avatar
 
Joined: Apr 2009
Location: SW Ontario
Posts: 16,803
Siouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

Originally Posted by CliveSD View Post
So do we have these details yet? Meanwhile, I've asked IA about their ROPS 4 times and no answers yet - so can't say I'm impressed with that!
In what capacity have you requested the information - as someone wishing to potentiallt transfer into a ROPS or as an FA wishing to assist a client ? (They may only be able to give you in depth info if you are a registered FA in Canada)... or they may not have finalised setting it all up.. this may be why you haven't (as yet) received a response.

If you need basic info you can find it on their website, although it has yet to be updated since the approval: https://iaclarington.com/products-se...-accounts/rops


Last edited by Siouxie; Dec 3rd 2019 at 6:29 am.
Siouxie is offline  
Old Dec 3rd 2019, 9:51 am
  #56  
Just Joined
 
Joined: Nov 2019
Posts: 13
CliveSD is an unknown quantity at this point
Default Re: Alexander Peter Wealth Management: any comments?

Neither, I have an old friend with a BP pension living in BC who is finding it impossible to get advice in Canada. IA Carrington dont answer him (or me), and have a 'No QROPS' message on their website and most UK product providers wont deal with non-residents. So lots of chat on this site about providers but when you actually get down to the nitty gritty of getting products and advice for Canadian residents its a hell of a lot more difficult!
CliveSD is offline  
Old Dec 3rd 2019, 9:54 am
  #57  
Just Joined
 
Joined: Nov 2019
Posts: 13
CliveSD is an unknown quantity at this point
Default Re: Alexander Peter Wealth Management: any comments?

Hi Hurabrick, I am aware of Nucleus but they only deal through appointed UK Advisers, and half a dozen I spoke to only deal with UK residents!
CliveSD is offline  
Old Dec 3rd 2019, 3:30 pm
  #58  
MODERATOR
 
Siouxie's Avatar
 
Joined: Apr 2009
Location: SW Ontario
Posts: 16,803
Siouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

Originally Posted by CliveSD View Post
Neither, I have an old friend with a BP pension living in BC who is finding it impossible to get advice in Canada. IA Carrington dont answer him (or me), and have a 'No QROPS' message on their website and most UK product providers wont deal with non-residents. So lots of chat on this site about providers but when you actually get down to the nitty gritty of getting products and advice for Canadian residents its a hell of a lot more difficult!
Your friend will need an FA in Canada to arrange any transfer, it's not something you can do for them as you are not registered here - if they need a recommendation I'm sure someone can help...

Siouxie is offline  
Old Dec 3rd 2019, 3:33 pm
  #59  
Just Joined
 
Joined: Nov 2019
Posts: 13
CliveSD is an unknown quantity at this point
Default Re: Alexander Peter Wealth Management: any comments?

Great, i look forward to recommendations for Advisers in Canada familiar with UK pensions, if anyone knows of one?
CliveSD is offline  
Old Dec 3rd 2019, 3:50 pm
  #60  
MODERATOR
 
Siouxie's Avatar
 
Joined: Apr 2009
Location: SW Ontario
Posts: 16,803
Siouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond repute
Default Re: Alexander Peter Wealth Management: any comments?

Originally Posted by CliveSD View Post
Great, i look forward to recommendations for Advisers in Canada familiar with UK pensions, if anyone knows of one?
I transferred pensions across for a group of FA's in Canada years ago, this isn't something new. You are making it sound as if this is a complex process, which it really isn't.. there isn't any need to be familiar with UK pensions, you just have to know the right forms for submission, whether it's a qualifying pension and the applicant understands the process and then it's a case of finding out who the Pension scheme is overseen by - the address and phone number. I used to get them transferred in a matter of weeks with the right phone calls... get the pension recipient to fill out a couple of forms, send them off, get the valuation, some more forms filled out, sent off.. chase it up... rinse and repeat.. then once the fund is transferred, it gets put straight into the ROPS, the recipient is advised..

I'd be happy to give your friend the names of the people I used to work for if they are interested but I don't tout for business for them or anyone else.

Last edited by Siouxie; Dec 3rd 2019 at 3:53 pm.
Siouxie is offline  

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.