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Offshore IFAs boosted by professional business rise

Offshore IFAs have seen a 55 per cent increase in enquiries and referrals from professionals such as lawyers and accountants this year compared with last.

Research from Axa Isle of Man shows that 27 per cent of offshore IFAs have received referrals from lawyers and accountants.

Forty-eight per cent of offshore IFAs put the increase down to improved marketing and communications by their firms to professional companies. Eighteen per cent say it is a result of the growth in the number of financial products requiring referral and 15 per cent cite professional advisers expanding their business.

Offshore marketing manager Christine Hall says: “Increasing numbers of people would benefit from investing offshore to reduce their inheritance tax liability and it is encouraging that lawyers and accountants are recognising this need and referring their clients to specialist IFAs for advice. It is also pleasing to see that offshore IFAs have been stepping up their marketing to professional advisers as there is substantial potential there which has so far not been fully realised.”

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