Advisers are now able to view onshore investment bonds on Cofunds following the addition of Legal and General's Portfolio Bond to the platform.
Launched in November 2005, the bond, which has previously been available from L&G directly, offers advisers a single premium life insurance wrapper offering clients a choice of over 200 investment funds from 40 fund managers.
The bond has a minimum new investment of £5,000 and there is no initial charge for those under 75 years of age. The annual fund charge is dependant on the underlying fund selected.
No charge is made for the first 12 switches in any 12-month period, after which there is a £25 charge made for all switches over that limit. There is, however, a penalty charge for those wishing to cash in all or part of their investment in the first five years, starting at a 7% reduction in the first year of investment to a 2% reduction in the fifth.
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