Scottish Friendly launches Onshore Bond on Ascentric and IFDL platforms

Press release - 31st January 2014

    • Open architecture onshore bond soon to be available on Ascentric and IFDL
    • Competitive charges with no set up costs
    • Access to over 2,000 funds

Scottish Friendly, one of the UK’s leading financial mutuals, is to launch the Scottish Friendly Onshore Bond (Platform Account) on the independent wrap platform. The launch will provide advisers with an open architecture onshore bond via its award-winning technology platform.

Scottish Friendly will be responsible for the administration of the Bond while the platform will manage all investment dealing and settlement.

The Scottish Friendly Onshore Bond (Platform Account) is designed for long term capital growth while also providing an effective vehicle for a range of trust, tax and business planning scenarios. The bond is targeted at clients with a substantial lump sum to invest and who are looking for inheritance tax planning, a tax efficient income and greater administrative efficiency when it comes to their investments. The bond offers the following features:

  • An innovative combination of open architecture and tax efficiency
  • Access to over 2,000 funds as well as Exchange Traded Funds (ETFs), Investment Trusts and SICAVs
  • Single premiums only with a minimum investment of £10,000. No maximum investment
  • A competitive 0.35% wrapper charge with no set up costs
  • Total transparency with all transactions undertaken through a cash account and unbundled charges

Commenting on the launch, Mike Morrow Sales & Marketing Director at Ascentric/IFDL, said, "The launch of the Scottish Friendly Onshore Bond (Platform Account) adds breadth to our proposition, and means users can offer their clients an open architecture Onshore Bond within our technology solution. Scottish Friendly’s administrative expertise will help us meet a growing need for these types of products."

Neil Lovatt, Sales and Marketing Director at Scottish Friendly added, "This announcement marks another significant step in Scottish Friendly’s programme of diversifying its business. It comes on top of our recently announced record sales for 2013. Building a new onshore bond customised to Ascentric and IFDL is an exciting project for us and we look forward to providing their clients with an efficient and effective service."

The onshore bond is for IFA clients only and the value of investments can go down as well as up and the original investment amount is not guaranteed.


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