Holborn Assets has been given the green light from the Financial Conduct Authority (FCA) to resume operations in the UK. The firm, which has an office in Manchester, England, will recommence work immediately as a UK regulated Independent Financial Adviser.
The news comes after the UK arm of Dubai-based Holborn Assets temporarily halted operations in the country while it worked with the UK regulator to agree a robust process to advise and execute advice on defined benefit pension transfer business.
Holborn Assets is authorised by the FCA but this latest move will now give across the board FCA approval, meaning it will also resume offering advice on DB transfers for UK-based clients, as based on the procedures that have been agreed between the business and the FCA.
Commenting on the news, CEO of Holborn Assets, Bob Parker, said: "This is great news for us in addition to the wider industry.
"Having temporarily paused advisory work in the UK in May on advice from the FCA, we, along with several other firms, are proud to be working in the country again. Holborn is delighted to have reached an agreement with the FCA and is grateful to the organisation for supporting us in reaching an agreement promptly.
"We will continue working with the FCA and with immediate effect we are now back to advising our wealth of clients on how they can make the most of their DB pensions as well as their wider personal finances. We will also champion the new and careful FCA guidelines now in place to monitor risk in pension transfers more closely.
"As an industry, we are seeing an increased demand from customers who are looking for advice to build themselves a more secure future. As of today, Holborn picks up where it left off in working with British nationals wanting to create a safe, secure and rewarding retirement to care for themselves and their families during their retirement years.
"Between re-establishing UK operations and seeing huge growth in the Dubai arm of the business, Holborn Assets is on track for a record-breaking year - watch this space."
About Holborn Assets
Holborn Assets is a global financial services group and a leading financial advisory firm based in Dubai. Established in the Emirates for over 20 years, the business has expanded to operate throughout Europe, the Middle East and Africa.
A family-owned and operated business, Holborn Assets has over 400 employees worldwide, including 120 financial advisors. Committed to delivering the best possible service, each advisor is trained and qualified to United Kingdom standards with many holding qualifications from the UK's Chartered Insurance Institute (CII) or Chartered Institute of Securities and Investment (CISI).
Holborn's experienced team of professional advisors specialise in delivering clients quality, independent financial advice and services. Core areas of operation include: Independent Financial Services, Financial Solutions, Financial Planning, Wealth Management, Shariah Wealth, Currency Exchange, Employee Benefits, Management Services, Insurance, Investments, Protection & Insurance, Pensions, Mortgages, Offshore Services, Tax Planning, Will Writing, Pension Transfers, and QROPS.
Holborn Assets is licensed by the UAE Ministry of Economy, Financial Conduct Authority in the UK and the FSB in South Africa. The business is registered on the UAE's Insurance Authority (IA) List within the Insurance Broker category.
The core services of the UK arm of Holborn Assets Ltd are the provision of retirement and investment planning to clients in the UK and overseas. The company provides specialist pension transfer services to clients of other UK regulated financial advisory firms, who are not authorized to provide this advice, as well as directly to members of the public. It also provides a range of employee financial counselling services and communication services to companies and pension scheme trustees.