The Royal Skandia Trust Company, an IoM-based professional trustee, has unveiled an offer over its entire range of trusts which will allow financial advisers and their clients to access its professional trustee services totally free, according to International Adviser.
The Trust Company estimates that this offer will save £300 plus VAT per annum and will apply across all new Royal Skandia bond applications with premiums of £200,000 or more, with effect from 1 October over a six month period.
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Royal Skandia, which operates in Asia and the Middle East, has also said that it is not charging a trust establishment fee.
Phil Oxenham, head of proposition marketing at Skandia, said: "Clients with significant sums to invest were in the greatest need of wealth planning and using trusts could help to mitigate tax exposure and protect their assets for their beneficiaries.
"The role of trustee carries with it significant responsibilities though it often lands upon the client’s friends and family to fulfil.
"Recommending Royal Skandia Trust Company as a professional trustee will relieve the client of having to find someone to pass the administrative and legal burden to as well as providing great reassurance at no extra cost," Oxenham added.
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