Ascentric has partnered with Scottish Friendly to launch an onshore bond on independent wrap platform.

The open architecture onshore bond, which will be available on Ascentric and IFDL platforms, will provide access to more than 2,000 funds as well as exchange traded funds and investment trusts.

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Scottish Friendly will be responsible for the administration of the bond while Ascentric will manage all investment dealing and settlement.

The Scottish Friendly Onshore Bond will offer long term capital growth in addition to providing an effective vehicle for a range of trust, tax and business planning scenarios.

The bond will focus on clients with a substantial lump sum to invest and who are seeking for inheritance tax planning, a tax efficient income and greater administrative efficiency.

The bond will include a wrapper charge of 0.35% without any set up costs. It is designed only for single premiums with a minimum investment of £10,000 and requires no maximum investment.

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Hugo Thorman executive chairman at Ascentric/IFDL, said: "The launch of the Scottish Friendly Onshore Bond (Platform Account) adds breadth to our proposition, and means users can offer their clients an open architecture Onshore Bond within our technology solution."

Neil Lovatt, sales and marketing director at Scottish Friendly said: "This announcement marks another significant step in Scottish Friendly’s programme of diversifying its business. Building a new onshore bond customised to Ascentric and IFDL is an exciting project for us and we look forward to providing their clients with an efficient and effective service."