Norwich Union International has launched 10 new trusts for the offshore investment market. The Dubli...
Norwich Union International has launched 10 new trusts for the offshore investment market. The Dublin-based subsidiary is the offshore and pan-European arm of Norwich Union.
The 10 trusts are the Gift, Loan, Capital, Wealth Preservation and Probate Trusts, as well as the exluded property trust, the nil-rate band management trust, the discounted gift trust, the discretionary will trust and the variation trust.
'With the increasing average wealth of offshore investors, we felt there was a pressing need to offer investors another means of tax-efficient wealth management,' said Paul Shirley, marketing director.
'Our trust solutions have been specifically designed to answer particular tax-planning needs. By writing one of our bonds in trust, clients can benefit from an enhanced level of tax planning, not just for inheritance tax and probate but also for income tax planning.'
The new range of trusts was launched at a series of road shows over the past few months and are accompanies by sales literature designed to help advisers take clients through every step of demystifying the trust selection process.
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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