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True Potential adds onshore bond to platform

True Potential has linked with HSBC to offer an onshore bond through its Wealth Platform for the first time.

The True Potential HSBC Bond is available with an unbundled charge which sees a flat bond charge of 0.5 per cent and a platform charge of 0.4 per cent along with the fund total expense ratio and advice charge.

True Potential senior partner Daniel Harrison (pictured) says because the product is unbundled clients can see exactly what they are paying for.

He says: “We believe a tax wrapper should never be sold as an almost exclusive, propriety product such as a pension plan, or investment bond.

“Doing this has unfortunately allowed some life companies to charge extra simply for a tax treatment available to all. It also allows them to insert inside that tax treatment higher charging funds, such as life or pension funds, and by doing so can confuse the client.”

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  1. This is going to be an expensive bond…. 0.9%pa before fund charges and advice fees are added!

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