You might be living in the U.S. with an STM Malta US Retirement Plan (QROPS) and wondering why the fees on your statements never seem to add up, why emails take weeks to get a reply, or whether anyone has actually checked your plan against U.S. tax rules. It’s not just you.
Many U.S. expats and former UK residents are starting to question whether their current adviser is truly acting in their best interests. High and hidden fees, unsuitable investments, and a lack of cross-border tax knowledge can quietly drain your pension value over time.
The good news? You have options. With the right adviser, you can reduce costs, improve performance, and ensure your plan is fully compliant with U.S. tax rules.
Why Are So Many Looking to Change STM Malta QROPS Advisers?
While STM Malta is a legitimate and recognised QROPS provider, not all advisers who recommended or now manage these pensions have your best interests at heart. Some common concerns clients raise include:
- Fees that are not only high, but hard to pin down, often tucked away inside the fund structure or buried in platform charges.
- Investment selections that don’t fit the client’s needs, such as insurance bonds with layers of barely explained charges, sometimes still paying ongoing commissions to the adviser.
- Lack of cross-border tax expertise for the U.S./UK/foreign assets and income
- Poor communication and inflexible service models
- No holistic planning around U.S. tax rules, estate planning, or broader holistic wealth goals
- Excessive amounts of cash retained by the QROPS Trustee and not investment, dragging returns down.
If any of these sound familiar, it may be time to explore alternatives.
How to Review Your STM Malta QROPS
Before switching advisers or providers, it’s essential to understand the key components of your current setup:
- What are you paying? Total costs often exceed 3–4% annually once adviser fees, custodian/platform charges, and fund expenses are combined.
- Are you U.S. tax compliant? Many pension structures require extensive IRS Reporting, of which US clients have not been made aware by their adviser.
- Are your investments aligned with your risk profile and objectives?
- Does your adviser add true value beyond investment advice?
A transparent adviser will walk you through each of these elements, and if a transfer is appropriate, they’ll outline the process and tax implications clearly, including referring you to independent third party tax advice where appropriate.
Can You Transfer Your STM Malta QROPS to Another Provider?
Yes, QROPS transfers between providers are possible, provided they are still within the qualifying pension framework. A switch may be beneficial if:
- Your current provider is unresponsive or has regulatory issues
- You want lower costs and fee-based advice
- You want a more holistic approach to retirement, tax, and estate planning
A qualified adviser can handle the trustee-to-trustee transfer, ensuring no adverse tax consequences or penalties while optimising your pension’s future structure.
However, if you are unhappy with your adviser and investment platform, but don’t have particular issues with your Trustee, then you can also explore a change of agency and substitute investment wrapper inside the QROPS.
Our Experience Transferring STM Malta QROPS for U.S. Residents
At Cameron James, we have direct experience helping U.S.-based (and other non-UK based) clients transfer out of STM Malta QROPS arrangements. One client came to us concerned about high fees and potential tax issues due to unsuitable investment wrappers. After a detailed review, we successfully transitioned them to a more cost-effective structure with greater transparency and flexibility.
Another US Resident we helped, and continue to help, was a Brite Advisors USA client who came to us after worries about the regulatory status of his provider and the choice of investment platform. We advised him to transfer to a new QROPS provider, use a regulated investment platform, and invest in a low cost globally diversified portfolio.
Currently, he has lower ongoing fees, much better customer service from his QROPS Trustee, one who gets much better reviews and does not have the same public regulatory scrutiny. He also now receives cross-border holistic financial planning, which he never received in the nearly 8 years he was working with his previous adviser, to whom he was paying higher fees than he now pays at Cameron James.
These cases are perfect examples of why it’s so important to work with an adviser who understands both the technical and potential tax implications of cross-border pensions, especially for U.S. residents.
Why U.S. Clients Choose Cameron James for STM Malta QROPS Advice
At Cameron James, we are specialists in UK pension transfers for U.S. residents, including STM Malta QROPS holders. Here’s why clients choose us:
- ✅ 100% Fee-Based Model: No commissions. No hidden trails. Just transparent pricing.
- ✅ Deep QROPS Expertise: We have advised extensively on STM Malta and similar schemes for U.S. clients, whilst we have never advised a UK transfer into a QROPS for a US Resident.
- ✅ Low Cost Globally Diversified Investment Philosophy
- ✅ Fiduciary-Level Service: We only succeed when our clients succeed.
- ✅ Fully Regulated and Independent: No ties to product providers. We act solely in your best interest.
Whether you want to transfer your STM Malta plan to a new provider or simply switch to an adviser who aligns better with your values, we can help you navigate every step.
QROPS vs SIPP for U.S. Residents
Many U.S.-based expats also wonder whether transferring to a SIPP instead of keeping a QROPS might make more sense. We recently explored this in depth in our blog post comparing Brite Advisors' QROPS and SIPP offerings, especially from a U.S. tax and compliance angle.
📖 Click here to read: Brite Advisors USA – QROPS vs SIPP
If you’re not certain which option makes the most sense for your pension, it’s worth taking the time to read this article before you commit to any changes.
And if you prefer video content, have a look at our YouTube channel, we post weekly updates on pensions, the ongoing Brite Advisors situation, and other news that could influence your retirement plans.
Your Next Step: Free STM Malta QROPS Review
If you have an STM Malta US Retirement Plan and are:
- Based in the U.S.
- Unhappy with your current adviser
- Paying high, unclear fees
- Unhappy with Investment platform and investment performance
- Worried about U.S. tax compliance
- Seeking a more engaged, professional, and collaborative financial partner
Then it’s time to explore your options, and we can help. Schedule a free discovery call with our team to review your current pension setup and understand the best path forward.
📅 Book Your Free Consultation Now
Yes, provided the receiving scheme remains a qualifying QROPS.
Possibly. Certain fund types and wrappers can trigger U.S. tax filings. This must be addressed early in the advice process.
Not necessarily. In many cases, the adviser and investment platform can be changed while retaining your existing trustee.