The new business, called bdhSterling, is a joint venture between the company and the directors of the John Hopkins Group.
bdhSterling, headquartered in Melbourne with operations in Sydney and Perth, will offer a “broad range” of financial services, with a specific focus on marketing UK pension transfers to Australia.
John Hopkins’ Simon Barwick has been appointed as managing director of the new business, and will be based in the Melbourne office, while Simon Harvey and Russell Harrower will head up the Sydney and Perth operations.
Harvey said the company will initially focus on two service lines for cross border pension transfers, one for its internal clients and one for its business to business offerings, in which it will assist the clients of other financial services organisations.
“Australia’s tax and superannuation environments generally make the transfer of UK pensions very attractive,” he said. “However, due to Australian advisers' licencing restrictions and lack of understanding of the UK pension regime, we feel that there is a need for access to UK regulated advice for Australian residents.”
He added that providing “sound, independent advice across many disciplines within one company” will also save “time and money” for existing clients.
The company will also target financial advisers and their dealing groups, superfunds, and banks.
John Hopkins’ Melbourne office was established in 1980, focusing on offering solutions to clients in property and broader investment markets and for the last ten years has provided specialist investment advice to UK migrants.
