The primary driver for the introduction of a Zero establishment fee is our commitment to offering a fully transparent, all-inclusive structure rather than a menu of costs which we believe can significantly increase published rates.
Our challenge was to establish a price point that allows our pricing structure to remain 100% transparent while still continuing to be one of the small number of QROPS providers that do not charge additional fees. This will ensure our traditional strengths of service, expertise, and unique products are complemented by a compelling price point that will help the group to deliver substantial new business and annuity income.
The concept has been carried through to the QROPS SMART to include all custody and dealing fees.
The bond fees within the SMART packaged solution have also been revised following positive feedback and uptake on our recently launched STM Life Portfolio Bond.