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Boal & Co Interview with Isle of Man Chamber of Commerce
July 3, 2024Karen Kelly and Mark Doyle recently met with Isle of Man Chamber of Commerce about our business and what it means to us to be a Chamber Platinum Partner. Read the interview below.
Tell us about your business?
Karen:
We provide local and international retirement benefit solutions to individuals and employers.
Headquartered in the Isle of Man and also offering pension schemes from Gibraltar, Jersey and Malta, we are renowned as leaders in the field of pension trusteeship internationally. As a result, we look after c100,000 members of retirement benefit schemes, with a client list comprising 38 FT ‘Top 500’ blue chip companies and $13 billion pension assets under our management.
Originally established in 1995 by our founder Gary Boal, we have grown steadily and remain independent and privately owned. Our many years’ experience and unique pensions specialism enables us to offer leading and focused pensions expertise to our members and employers.
What services do you offer?
Mark:
Locally we provide Isle of Man pensions for individuals and employers as well as actuarial consultancy services. We are proudly responsible for the pensions of more than 1 in 20 adults in the Isle of Man*.
Our local pension offering includes self-invested personal pensions (SIPPs), group personal pensions (a portable personal pension for employers to offer to their employees) and corporate pension trusteeship and administration (whereby we support employers to establish and run their own pension schemes).
With 43 staff on the Island, we pride ourselves on our personal service to our local client base.
Do you have any events coming up or current projects you can share with us?
Mark:
Our annual Pensions Governance Conference takes place on Thursday 7 November 2024.
Now in its third year and hosted at the Comis Hotel, this full day conference welcomes anyone involved with Isle of Man company pensions including HR team members, CEOs, CFOs, accountants, auditors and pension trustees.
It will cover a range of topics from legal, regulatory and audit requirements to investments and retirement options – and much more!
Karen:
The event is interactive, featuring expert panels and breakout sessions to ensure that every delegate gets the most out of the day. Our speaker lineup includes actuaries, pension lawyers, investment professionals and Government representatives.
Early bird tickets will be available soon – keep an eye on our socials for more information.
What are your plans and goals for the future?
Karen:
To continue doing what we do best; providing best in class retirement benefit solutions to our members and employers, regardless of where they are in the world. Our business continues to grow organically thanks to referrals from current clients, employers and our network of local and international advisers and employee benefit consultants. Our team continues to expand to support this.
Mark:
We also have some exciting products in development for the Isle of Man market. Watch this space!
How do I arrange a pension scheme for my employees?
Mark:
Speak to your adviser about the options available or come and talk to us. Setting up a pension scheme for your employees doesn’t need to be time consuming or expensive. It’s probably much easier than you think and supports existing employee wellbeing and retention, as well as helping attract new joiners.
What is the most important thing to know about pensions?
Mark:
It’s never too early (or late) to save for your retirement. The earlier you start, the better – but there are also benefits to be had from starting later in life. Essentially, the best time to start your pension was years ago; the second-best time is now.
Where are you based and how can people contact you?
Karen:
For locals, we’re located in the Isle of Man Business Park. We welcome people to call in and see us at our (newly refurbished) offices or we can be contacted via phone (606606) or email (enquiries@boalco.com). Alternatively, you can follow us on Facebook, LinkedIn or X.
Finally, why is being a Platinum Partner so important to you?
Karen:
As a long-established local business, we care about playing our part in the local community – both at a business and social level. Our focus is to help people to prepare for their best possible financial future.