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Ascentric launches Qrops on platform

Ascentric has launched the MC Trustees Qrops on its platform.

The firm says it is the first Qrops to be launched on a UK wrap platform.

The MCT Malta Private Retirement Scheme is aimed at customers with UK pension rights who have not been resident in the UK for five complete tax years or are intending to permanently relocate out of the UK.

Ascentric says the pension scheme is based in Malta and has been approved by the Malta Financial Services Authority as well as HM Revenue & Customs.

MC Trustees is a group of companies that has been administering SSAS since 1986 and Sipps since 1995. They look after 1,500 plans and hold around £1bn of client assets.

Sales and marketing director Richard Goodall says “The launch of the MC Trustees Qrops underlines our commitment to providing advisers with the widest possible product range to meet the differing needs of their clients.

“We have had significant demand from advisers for a Qrops to meet the pension needs of their clients working overseas, and I am delighted to be working with such an innovative, forward thinking provider.”

MC Trustees managing director Martin Cadman says: “We are very happy to have made this arrangement with Ascentric. Our view is that more and more assets will be placed on platforms and that they will be particularly valuable for clients who live in different time zones, and wish to review their investments when it suits them.

“With this arrangement we believe that we will be able to significantly reduce the costs usually associated with managing Qrops investments and pass that benefit on to the client.”

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