First offshore bond for True Potential platform
True Potential has added an offshore bond to its wealth platform and is planning a number of other additions.
The first bond to be added will be the Canada Life International Premier Alpha Reserve Account investment product.
The costs are £123.80 per quarter admin fee and 0.2 per cent annual charge. There are no further CLI charges following the transfer of 100 per cent cash into the bond and after the initial transfer of cash on to the platform.
The firm says other offshore providers will be added throughout this month with the next one expected the Axa Wealth while TP is also talking to IOMA, Legal and General, Aegon and Royal London 360 about further additions.
It says it will make a series of announcements ahead of each live date as it looks to improve choice of provider and products including those used in IHT planning.
Senior partner Mark Henderson says: “This is the first offshore bond to be made available and we have decided to do this now as many advisers have been asking for the ability to invest offshore via our new wealth platform.”