Utmost’s Acquisition of Lombard
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Utmost Group’s Acquisition of Lombard: A Turning Point for Spanish Bondholders Seeking Independent Advice
For over a decade, British expatriates living in Spain who held Spanish-compliant Lombard bonds or Lombard bonds held within pensions faced significant challenges. Due to an exclusive agreement between Lombard International Assurance and a single financial advice company in Spain, bondholders were prevented from seeking truly independent advice. This lack of flexibility left many investors tied to overpriced and poorly performing portfolios, with limited options for improvement.
With the acquisition of Lombard by Utmost Group, these restrictions have been lifted. Bondholders can now access impartial advice and work with trusted financial advisers to optimise their investments. At Chorus Financial, we are uniquely positioned to help clients review their Spanish-compliant Lombard bonds and pensions, identify cost savings, and enhance portfolio performance.
The Exclusive Agreement That Restricted Bondholders
For years, an exclusive agreement in Spain meant that holders of Spanish-compliant Lombard bonds or those with Lombard bonds held within pensions could only receive advice from one financial advice company. This arrangement created significant barriers to independent advice, leaving bondholders with few opportunities to review or improve their portfolios.
At Chorus Financial, we encountered countless expats seeking help with their Lombard bonds and pension products, hoping to reduce costs or improve returns. Unfortunately, due to the exclusivity agreement, we were unable to offer the independent guidance they needed.
Many clients felt trapped, forced to either remain locked into poor-performing, high-cost investments or to close their bonds entirely. Closing these bonds often proved to be an administrative nightmare, compounded by high exit fees tied to undisclosed commissions and product tie-ins created by the original financial advice company.
The Utmost Group Acquisition: A Game-Changer for Bondholders
Utmost Group’s acquisition of Lombard has changed the game for Spanish bondholders. For the first time, investors with Spanish-compliant Lombard bonds or Lombard bonds held within pensions can access truly independent advice. This development provides a critical opportunity for investors to optimise their portfolios and address issues of cost and performance.
At Chorus Financial, we’ve reviewed many of these products over the years and found recurring issues, including:
– Underperforming Investments: Many portfolios contained poorly performing funds that failed to deliver adequate returns.
– Excessive Costs: High management & fund fees and commissions often went undisclosed, significantly eating into investor profits.
Now that these restrictions have been removed, Chorus Financial can finally assist clients in unlocking the full potential of their investments.
Why Independent Financial Advice Matters
The benefits of working with an independent financial advice company cannot be overstated. Unlike advisers tied to a single provider, independent firms like Chorus Financial act solely in your best interest. This ensures unbiased advice tailored to your individual financial goals.
At Chorus Financial, our qualified and regulated advisers can help you:
1. Reduce Costs: Identify and eliminate unnecessary fees, ensuring your investments are as cost-effective as possible.
2. Enhance Performance: Recommend better-performing, lower-cost funds to strengthen your portfolio.
3. Simplify Portfolio Management: Streamline your investments to align with your financial objectives.
Whether you hold a Spanish-compliant Lombard bond or a Lombard bond within a pension, our team has the expertise to provide comprehensive, tailored advice.
What Chorus Can Do for Lombard Bondholders
If you currently hold a Spanish-compliant Lombard bond or a Lombard bond within a pension, this is a pivotal moment. The acquisition by Utmost Group has created the perfect opportunity to review your investments, reduce costs, and improve performance.
By booking a review with one of our experienced advisers, we can:
– Conduct a thorough assessment of your bond or pension.
– Highlight opportunities to reduce hidden fees and improve fund selection.
– Provide personalised recommendations to optimise your investments.
Our advisers are fully licensed and regulated in Spain, ensuring that all advice is compliant with local laws and designed to meet your specific needs.
Closing the Chapter on Poor Advice
For years, holders of Spanish-compliant Lombard bonds and Lombard bonds within pensions faced unnecessary hurdles in seeking independent advice. Many were forced to endure subpar performance, high costs, and administrative difficulties when trying to exit these products.
The acquisition of Lombard by Utmost Group has changed all that. Bondholders now have the freedom to move their investments to a trusted, independent financial advice firm like Chorus Financial.
Contact Chorus Financial Today
Don’t let past restrictions continue to hold you back. Whether you’re looking to reduce costs, enhance performance, or simplify your investments, now is the time to act.
Contact Chorus Financial today to book a consultation with one of our qualified advisers. Together, we’ll help you unlock the full potential of your Spanish-compliant Lombard bonds or pension products, providing you with a clear path to financial success.
Qualified & Regulated Advice
Contact Chorus Financial today for a free, no obligation call with a qualified Financial Adviser in Spain. Provide brief information on what you need help or advice with, and let us know what part of Spain, or elsewhere, you are based in so we can assign the best Spanish based financial adviser for you.