Offering access to a number of Royal London 360°’s trusts, including its popular Select Discounted Gift Trust, Ascentric said the bond offers a tax-efficient way for adviser’s clients to “build a personalised yet flexible investment portfolio in an offshore environment”.
The first Ascentric-labelled bond on the platform, it brings the total number offshore bonds available through the platform to five.
Mike Morrow, Ascentric’s sales & marketing director said: “The launch of this bond adds further breadth to our proposition, and means advisers can offer their clients a cost effective offshore bond from a leading provider through our technology solution. Given the adviser feedback to date, we expect demand to be significant for this product.”
Ascentric said, as the product is administered on the platform’s gross nominee service, income is distributed on a gross basis which will avoid the need for any party to reclaim tax on the client’s behalf.
The Ascentric offshore bond offers the following features:
- A combination of open architecture and tax efficiency
- Client money can be invested on the platform from the point of policy commencement
- Access to a wide range of funds from a variety of sectors across the market
- Competitive pricing structure with no initial set up costs
- Clear charges with all transactions undertaken through a platform cash account