Standard Life says it has seen increased demand for offshore bond last year, in part due to the proposed IHT reforms to pensions.
Standard Life says saw a 56 per cent increase in sales for its international bond last year. It is now looking to expand this business through the new platform panel positions for this international bond.
The insurer has announced new panel partnerships with 7IM, Nucleus and Parmenion, while additionally building on its long-standing arrangement with the Elevate platform.
Standard Life says advisers have been increasingly looking to incorporate offshore bond solutions into client portfolios as an efficient way of passing on assets. This comes after the Chancellor announced that pensions would become subject to IHT the Autumn Statement.
Standard Life research has found that 58 per cent of IFAs have reevaluated the role that offshore bonds could play in client plans following Rachel Reeves’ announcement.
Standard Life head of retail intermediary and private client distribution Warren Bright says: “With significant IHT changes anticipated in coming years, the opportunities to further protect clients and provide tax efficient returns has put offshore investing front and centre with advisers and their UK clients.
“We have been steadily building our presence in the offshore market with our international bond spearheading our approach.”
Standard Life is actively pursuing further platform opportunities as it builds out its offshore business with UK advisers and their clients.
