More than 60 people, many of them IFAs, turned out for the GoldMoney and Vantage breakfast seminar on the recent addition of gold bullion as an asset class in Jersey pension schemes.
Richard Packman, Managing Director of Vantage, explained the changes and benefits to the audience: ‘Gold bullion can now be included in Jersey Retirement Annuity Trust Schemes (RATS) which are not only flexible and portable, but are also very cost effective with transparent fixed fees, especially when compared to the historic insurance company plans.’
Martyn White, GoldMoney’s Head of European Business Development, who hosted the seminar, said that Jersey residents have had the ability to hold gold in their RAT previously through a physically-backed Exchange Traded Fund. However, the new guidelines now permit physical gold bullion to be included when it is purchased through a regulated company and stored in fully insured, allocated storage facilities. GoldMoney provides all of this.
“This is in contrast to gold held through many ETFs, as the ETF is not obliged to allocate gold to the individual and, in some cases, they hold less than a tenth of the physical asset. This presents obvious problems when individuals want the physical gold they believed they owned. There are also many other counterparty risks to gold ownership this way, which is why we welcome the new guidelines. With the World Gold Council this week releasing figures that show gold bar demand is at an all-time high worldwide, it’s certainly an interesting time to be considering gold ownership for future wealth preservation.”
The seminar took place at the Grand, Jersey. For further information contact: Hayley.firstname.lastname@example.org