Friends Provident International (FPI) is to launch two offshore savings plans. The first is...
Friends Provident International (FPI) is to launch two offshore savings plans.
The first is a regular premium plan that invests in FPI's mirror fund range and the second is a single premium plan with no fixed charging structure. The costs of the plan are flexible, determined by negotiations between the intermediary and the client.
Chris Holland, marketing manager for Friends Provident International, said: 'The charging structure for the single premium plan is very different.
'It all depends on the personal selection of the investor and the intermediary according to choice of establishment charge period, commission sacrifice and various other things.'
The single premium product will have two versions, one that can invest in almost any publicly-available collective investment vehicle in which the client wishes to invest and another that can wrap up equities and bonds. However, this personalised version will not be appropriate for UK residents for tax reasons, according to the group.
The regular premium plan will be able to invest in FPI's range of more than 90 mirrored third-party and internal funds.
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