Please list the products and services you sell via intermediaries.
Flexible Life Plan (whole of life assurance policy); Premiere Account (open architecture pooled fund bond); Delta Account (provides access to a wide-ranging portfolio of funds); Offshore Savings Account (provides capital growth by regularly investing in one or more of CLI's funds); Delta Discounted Trust Account (whole of life policy that allows IHT mitigation while continuing to get income); Inheritance Planning Account (like the discounted trust but in the form of a series of single premium endowment policies).
In which countries do you have representative offices?
CLI operates solely from Castletown, on the Isle of Man.
Into which jurisdictions can you promote your products/services?
CLI's products are sold through regulated intermediaries in the UK and the Channel Islands.
Under what circumstances will you take business from countries you do not market to?
CLI assess every new business case from further afield via an Overseas Business Development Committee. A case will not be accepted unless the intermediary is authorised to sell in that jurisdiction and there are no restrictions specific to that area preventing us accepting business. For example, CLI's products are not available to residents of the US.
What are your total assets under management and roughly how are they split?
CLI manages funds under management of £2.4bn for over 27,000 policies (as at 31 December), most coming from the historic success of our investment bonds and, more recently, our whole of life plan.
How are they split geographically?
Approximately 95% of CLI's business is generated in the UK, with the remaining 5% being spread across the world.
Has your parent company given any legally-binding promises to protect investors of their international subsidiary in the case of problems?
We do not have such agreements with our parent company.
Has your parent company given any non-legally binding assurances?
What are you plans for future expansion and change over the next 12 months, including product launches, strategic moves into new territories and so on.
A detailed geographic diversification plan is currently in review at board level.
Categories: Offshore Investment
With the vast bulk of client money now going on to platforms, who really benefits? The client, the adviser or just the platform provider?