The companies said that the True Potential Offshore Bond will enhance the product choices for independent financial advisers and clients, by providing them with the option to invest in a tax-efficient offshore bond from a provider which is headquartered in the Isle of Man.
Natalie Hall, head of marketing at Royal London 360° said investors will benefit from True Potential’s comprehensive UK distribution network and relationship with so many IFAs.
True Potential, which provides around 4,000 UK IFAs with a range of products and tools with which to create and administer clients’ investment strategies, said it expects the product will be popular.
“Its strong product features and competitive charging structure will give IFAs an excellent proposition to offer their clients,” said Mark Henderson, senior partner at True Potential.
As International Adviser reported, senior figures in the cross-border life industry, including David Kneeshaw at Royal London 360°, expect the use of offshore bonds to increase in the UK, despite Skandia’s decision last month to close an offshore bond on its platform owing to lack of demand.