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Our Story.
From a converted barn to three jurisdictions and $15 billion under administration, in three decades.
Founded on a simple belief:
that a firm which does one thing will always do it better.
The spark.
In 1995, a 32-year-old actuary named Gary Boal started an actuarial consultancy firm from a converted barn at his home in Ballasalla, Isle of Man. Three staff, and a clear view of what the industry was missing: not another generalist, but a specialist.
The gap nobody saw
Two years in, Gary made a decision that defined the firm. Seeing a gap in the market, he moved into pension trusteeship and administration and Boal & Co's first domestic Isle of Man pension plan was born. When formal pensions regulations arrived under the Retirement Benefits Schemes Act in 2000, Gary was among those consulted on its drafting, helping shape the very framework the industry now runs on.
Room to grow.
The firm outgrew the barn. From Ballasalla to Harbour Mews in Castletown, a nineteenth-century warehouse on Parliament Square, and on to Marquis House at the Isle of Man Business Park, its home since 2009. Through every move, the team grew and the reputation deepened, but the focus never widened.
The legacy.
Gary Boal passed away suddenly in 2015, aged 52. To a team that then numbered around twenty, he was a friend as much as a colleague, and he is still spoken about today, by the people who knew him and by clients and peers across the industry he helped shape. Under the continued private ownership of his wife, Allie Boal, his close colleague Mark Kiernan took the helm as CEO, a role he holds today. The belief that founded it is still the belief that runs it.
Reported at the time...
The local press marks the launch of a new kind of firm, 1995.
For over 30 years, we’ve supported employers, customers and members with independent expertise, clear governance and a genuine focus on people.
Boal & Co founded in Ballasalla, Isle of Man. An actuarial consultancy with three staff.
Branched into pension trusteeship and administration and launched the first Isle of Man pension plan for individual; the specialism that would define Boal & Co.
Registered with the Isle of Man Financial Services Authority as a Professional Retirement Benefits Schemes Administrator following the implementation of industry specific legislation.
First Isle of Man QROPS master trust launched; a landmark in international pensions.
Moved to Marquis House, Isle of Man, where the head office remains today. First International Pension Plan (IPP) created for the employees of an international organisiation.
AUA passes $925m.
Rewards (Isle of Man Group Personal Pension) launched for Isle of Man employers. Boal & Co Gibraltar Limited established.
AUA passes $9.25bn.
Zurich Trust Company acquired; Boal & Co Pensions (Jersey) established. Awarded 'Best International Pension' at at Professional Adviser's International Fund and Product Awards (IFPA) in London.
Launched QROPS product for the Malta market.
Brand refresh. 100,000+ members globally.
AUA passes $12bn. Awarded Highly Commended for Best International Pension Plan at the International Investment Awards.
AUA passes $13bn, then $15bn. 45+ Fortune Global 500 clients.
AUA passes $15bn. Continued growth across all domestic and international markets.
"While our scale has changed dramatically, the culture Gary instilled remains the foundation of our success.
Karen Kelly
Group Director