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PenTech says that they noticed the existence of an ever increasing, specific requirement for technical support for both international financial advisers and also international pension scheme providers.
PenTech has had major involvement in defined benefit salary related schemes.
PenTech's clients are professional international advisers and pension providers.
The individual client who is looking to these international advisers for advice, remains their client, which is what PenTech calls a "partnership" to bring increased credibility to international adviser's businesses.
PenTech claims to provide it's clients with the highest level of support, with the most experienced pension technicians and more importantly the latest technology.
In their own words, PenTech states that -
"International professional advisers can feel isolated when confronted with a complex scheme on which their client is expecting instant and accurate answers followed by a solution. PenTech shares it’s wealth of knowledge and support to develop that important solution!"
Given that the HMRC pensions tax manual is so comprehensive, and by definition 'definitive', it’s hard to understand why any adviser who’s active in the pensions advice market would require such a service.
PenTech's services include:
PenTech also offers a bureau service where they provide technical analysis.
This is then followed up by one of a number of UK FCA authorised firms, to provide non-UK residents with the necessary FCA regulated advice associated with a transfer of rights in a UK defined benefit scheme to a QROPS or a SIPP.
The advice letters generated by PenTech are, in our view, minimalist and highly standardised, seeking to just meet the requirement, rather than to fully inform the client.
We would recommend reading the expert verdict section of this review to learn why our team of experts gave PenTech 1 out of 5 stars in their independent review.
PenTech's services can be summarised below: