The new service, called QTEPS, aims to provide advisers with independent technical support in this area of planning.
Using a fact find questionnaire, the firm said it will produce a suitability report that reviews a client’s circumstances and recommends a suitable solution from a panel of commonly used trusts such as discounted gift trusts, discretionary trusts and loan trusts.
The cost of a standard suitability report will be £1,000 (€1,142, $1,288) said The Qrops Bureau and will include “comprehensive due diligence” when it comes to the recommended provider.
Chartered tax adviser input will also be available at an additional cost, while many of the trusts will be available at a low fixed initial and annual fee, added the firm,
The new launch comes amid recent data, which shows that “clients are not doing enough to plan to protect their estates for their beneficiaries,” said David White, partner at The Qrops Bureau.
“With IHT at 40% and tax receipts each year to HMRC of more than £4.7bn, there is a clear opportunity for advisers to raise the need for advance planning with their clients,” he said.
“QTEPS has been launched to provide advisers with independent technical support in this area of planning. The service will be delivered using the solutions based approach that advisers have become used to from The Qrops Bureau.”
White added that the firm is also looking to develop a panel of trust providers across various jurisdictions, who will be able to provide more “bespoke solutions” at an additional cost.
The QTEPS service will be headed up by Bob Easton, who recently joined The Qrops Bureau as head of trust and estate planning. As well as being a member of the Society of Trust and Estate Practitioners (STEP), Easton also holds the APMI, FCSI, CFP qualifications.
