Superyacht Crew Financial Service Launched

by Robert Lee, Tax-News.com, London

27 April 2010

Wealth management services firm Moore Stephens Isle of Man, has announced a new financial support service for Superyacht crew through one of its group companies, Moore Stephens Crew Benefits Limited.

Speaking about the new service, Clive Dixon, managing director said that: "While this was the logical next step in the development of the product, we actually ended up with a brand new offering powered by the International FlexiPlan retirement savings scheme. We listened to our clients who asked us to refine our existing product and the end result is a highly flexible client-focused way of managing crew benefits. Our clients wanted to be empowered to make investment decisions on the level of retirement savings they have, which is where the International FlexiPlan works perfectly."

The service, which will incorporate a 24/7 helpline, comes on the back of Moore Stephens' successful Superyacht registration, HR solutions and yacht owner services which had already expanded into yacht crew payroll. It includes:

• Retirement savings plans, flexible and adaptable to a crew member's lifestyle, available in all major currencies.
• Health insurance, including hazardous sport, piracy and kidnapping options, but always with Med-evac as standard.
• Accident cover for dismemberment, permanent incapacity and death, among other options.
• Flexible income protection and life insurance.

"Our clients can either leave their retirement savings to be managed by their chosen provider or manage their own retirement savings using the investment funds available in the International FlexiPlan through a secure web-based platform. The International FlexiPlan has been specifically tailored with seafarers in mind,” continued Dixon.

“While the International FlexiPlan retirement savings scheme was designed by Moore Stephens Isle of Man to minimize fees and charges, including fund investment fees, so that the saver gets a low cost solution to their retirement savings need, other services such as banking and insurance were arranged through strategic alliances with international banks and specialist providers with an international perspective,” the firm said.

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