Boal & Co Review
Best For: Complex or bespoke QROPS and advanced tax planning.
Cost: Set up fee £625, annual trustee fee £845
Service: 7.4/10 – Reasonable processing times but investment switches in particular can be slow.
Jursidictions: Malta, Isle Of Man
Overall: 6.3/10 – Unless you have a complex situation there are better options available.
Main Positives: Very safe, sound custodian.
Main Negatives: Failed to adapt as market has grown and has been left behind in their offerings now.
Boal & Co is a firm of international actuaries & consultants specialising in advice to offshore insurance companies and pension schemes. They are generally rather expensive but can be useful.
They offer QROPS in multiple jurisdictions mainly in the Isle of Man and Gibraltar. They have several schemes available although the jurisdictions are not as appealing as when QROPS was first launched back in 2006 due to the pension authorities reluctance to adapt to recent UK pension changes.
Due to their tax specialisation they can be very good for more complex cases that other firms are unable or unwilling to accommodate.