Double delight for Boal & Co

There’s been more success for Island firms at the International Fund and Product awards.

After Standard Bank Offshore was named Best Expatriate Bank for the third time in four years, Boal and Co has received the accolade of Best International Specialist Pension Provider.

The awards recognise the achievements of the offshore financial services industry and its products.

Last year Boal & Co picked up an IFPA Special Award in recognition of its ‘Technical Innovation in the QROPS sector’ and managing director Gary Boal said the latest IFPA recognition is testament to the breadth of the company’s pension proposition, as well as significant growth in the scale of the firm’s overall pensions business.

That growth has seen Boal & Co create three new permanent jobs in the past month. New positions have been created in QROPS, domestic and international pension areas of the business, all of which continue to expand.

‘We’re delighted to be recognised by the IFPA for a second year running,’ said Gary.

‘Our pensions proposition comprises occupational schemes for multinational employers around the world (currently with members in 113 countries), over 50 QROPS pension transfer schemes (members in 42 countries); and a comprehensive range of pension solutions for the local Isle of Man personal and corporate market.

‘All three legs to this proposition are growing very strongly and the success we are enjoying brings in more Isle of Man business, which therefore creates more Isle of Man jobs.’

Changes earlier this year to QROPs regulations by HM Revenue & Customs signalled a clear change of direction for the QROPS market, but Director Mark Kiernan is confident the Isle of Man and Boal & Co will continue to set the standards for the QROPs industry.

Commenting on Boal & Co’s award, the IFPA judges said:
‘We were impressed with the breadth of Boal & Co’s international pension solutions. A high level of actuarial expertise combined with knowledge gained over many years in the industry was very much in evidence by the tailored solutions on offer.

'This was an important differentiator in light of the difficulties suffered by recent QROPS changes. While Boal & Co is not afraid to push boundaries, the judges felt that experience across a number of pension sectors including multi-national employers gives them a cutting edge.’