Nearly three quarters (71%) of advisers believe increased training would help them to improve client understanding of the benefits of onshore investment bonds, says Chesnara Life UK.
The firm’s Onshore Bond Adviser Sentiment Survey, which explores advisers’ use of onshore investment bonds, found nearly two thirds (64%) of advisers would welcome more positive industry messaging.
Mark Lambert, head of onshore bond distribution at Chesnara Life UK, said: “Onshore investment bond providers have an opportunity to build on the support already available to advisers through training and wider educational resources. This could help advisers deepen their knowledge, support their client conversations and continue to deliver good outcomes.”
Almost six out of 10 (59%) advisers say they would be more open to support in general from providers, while 54% would value provider literature they can use directly with clients to explain onshore investment bonds.
The research also uncovered a potential growth opportunity for the market. While advisers estimate that around 29% of their clients hold onshore investment bonds, they believe nearly two out of five (39%) would benefit from holding one. The survey also found more than a quarter (26%) of advisers had significantly increased their use of onshore investment bonds in the previous tax year.
Lambert added: “Investment bonds are increasingly relevant as part of the financial planning conversations advisers are having with their lump sum investment clients in general and in estate planning in particular. Further education around the role and benefits of investment bonds could help advisers respond to that growing interest.”
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