Friends Provident has added a multi-income option to its Friends Wealth Solutions bond.
Customers can invest in up to five income distribution funds at a time, up from one, and choose from 13, up from eight. The provider will also not limit customers to choosing funds with the same distribution frequencies.
Investors can switch to any of 150 accumulation funds if they no longer require an income. They may switch once in the first five years and as often as they like from then.
Friends Provident will also pay customers 2.2% of the bond’s value in year 10 as a loyalty bonus.
Advisers will receive 0.25% commission on the first £100,000 invested when they submit business online.
Last month Friends Provident added the option to customise commission on the Wealth Solutions bond. The changes mean advisers can increase their client’s investment by giving up some, or all of the initial commission and reduce their client’s establishment charge by giving up some, or all of the initial commission.
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