AJ Bell Investcentre has launched its first onshore bond link offering advisers and clients simpler tax reporting and tax efficient estate and trust planning.
The Countrywide Assured Onshore Bond can now invest through the AJ Bell Investcentre platform in general investment accounts (GIAs).
Countrywide Assured will open an AJ Bell Investcentre GIA in their name as an investment within any client’s bond, with all assets and cash held in the bond account owned by Countrywide Assured.
AJ Bell said it had chosen Countrywide Assured as the first onshore bond partner for AJ Bell Investcentre because of their focus on supporting the open architecture investment style that is valued by advisers and clients.
The investment platform said the introduction of onshore bonds and trusts, alongside its existing solutions including offshore bonds, means it now offers advisers and their clients an even more comprehensive suite of tax planning tools.
Benefits of onshore bonds include tax efficiency, with investors able to withdraw up to 5% of the original investment each year without immediate tax liability, as well as simpler tax reporting.
Onshore bonds can also be placed in trusts to manage wealth transfer more efficiently and offer access to a wide range of funds, providing investors with greater investment flexibility.
Mark Rendle, advised product director at AJ Bell, said: “Alongside our existing suite of tax and estate planning tools including offshore bonds and trusts, the onshore bond augments one of the more comprehensive IHT planning suites in the advised market via Investcentre, providing advisers with a range of flexible, tax-efficient solutions to deal with the evolving needs of clients.”
Jackie Ronson, CEO of Countrywide Assured, commented: “This collaboration allows us to expand our presence in the onshore bond market, offering customers greater choice and flexibility. Our collaboration gives AJ Bell Investcentre advisers and their clients access to the financial planning advantages of our onshore bond proposition and allows us to bring the product to a wider range of customers.”
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