›

Multiple Onshore Bonds on the same day - Why?

Kat_MockKat_Mock Member
in Technical stuff

Question to the floor!

Previous adviser recommended to set up 5 onshore bonds with the same provider, in the same investment fund on the same day. Each bond has 1000 segments. None of the bonds are in trust and the client is a non-taxpayer.

Am I missing some kind of super whizzy wheeze as to why they might have recommended this? Client has an IHT liability but no real plans to gift and only two kids so I can't see why you would need so many bonds and segments. He only has £30k in GIAs and it's not looking like a diversification play as the bonds are all in the same fund (only one fund).

Any ideas or is it just weird?

Share on Google+
Sign In or Register to comment.