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Parmenion and Sanlam launch joint onshore bond

15 April 2018

Platform provider Parmenion has teamed up with Sanlam to launch an open architecture onshore bond. 

Parmenion said planners will have greater flexibility in building wealth solutions for their clients, with access to a wide number and range of portfolio solutions.

Richard Goodall, distribution and marketing director, Parmenion (pictured), said: “We are excited to be working with Sanlam and to extend our proposition with this important new launch. Advisers have asked us to deliver this capability and we are pleased to have been able to respond to their requests.

“Onshore Bonds provide broad planning opportunities for advisers and their clients, which when combined with our flexible portfolios, have the potential to deliver great customer outcomes.”

Jonathan Polin, group chief executive officer, Sanlam, commented: “We are a collaborative business and Parmenion are a great success story in the platform market. We are delighted to be working with them. Retirement is no longer just about pensions. Structuring a tax-efficient income stream from a range of tax wrappers is becoming increasingly important.”

Parmenion said the new launch was significant, in light of HMRC reducing the Dividend Allowance from £5,000 per annum to £2,000 from 6 April 2018.

Polin added: “Advisers are reconsidering how they allocate new monies and are reviewing existing clients with portfolios over £50,000 in a General Investment Account. The Onshore Bond wrapper is now widely accepted as a core part of the planning process for most UK investors.”