Sanlam launches onshore bond with 7IM

Polin-Jonathan-2011-700x450.jpgSanlam and Seven Investment Management have rolled out an onshore bond for advisers using the 7IM platform.

The Sanlam Onshore Bond is open architecture and can invest in authorised and regulated collective investment schemes. Advisers will not be limited to only using insured funds.

Verona Smith, head of platform at 7IM says: “This new launch is a much anticipated product wrapper for advisers using the 7IM platform, and fills a much needed gap in the market. This is the first time we have been able to add an onshore bond to the platform, the challenge historically being that most onshore bond providers only allow access to insured funds.”

Jonathan Polin, group chief executive officer at Sanlam adds: “Together we have developed a simple, innovative solution which will support financial advisers and help meet the increasingly complex requirements of their clients.

“In particular, for those advisers looking for onshore options, this solution gives individuals the opportunity to pass on their wealth through the generations, in a tax-efficient, onshore trust environment. We are one of only a small number of firms in the market that can provide these kind of bond structures, making the 7IM offering highly differentiated.”

The minimum investment is £5,000 while charges start at 0.25 per cent for the first £100,000 and decrease incrementally to a minimum of 0.1 per cent for investments over £1m.