IOOF has launched a new menu for its tax paid investment bond product, IOOF WealthBuilder, responding to a demand from advisers for more choice.
The new menu, accessible through IOOF WealthBuilder, provides advisers with more choice of bonds across major asset classes including cash and global equities, a statement issued by IOOF said.
IOOF general manager of distribution Renato Mota said: "The popularity of investment bonds has increased significantly over the last couple of years as more investors are looking for tax-effective structures outside of the superannuation environment."
The menu also allows advisers to access a range of investment managers to help them meet their clients' individual investment needs, the statement said.
"An increasing number of advisers are seeing more ways in which investment bonds can help them resolve an array of strategic financial planning scenarios for their clients, particularly in the areas of wealth accumulation, early retirement and estate planning," Mr Mota said.
IOOF reported that there are 16 new investment options to select from including 12 sector specific options.
"Underlying fund managers have been chosen for their strength and tenure of brand, consistency of performance, independent ratings and APL breadth," said Mr Mota.
IOOF investment specialist Sue Herrald said the new menu enables advisers to give investors more choice within a tax structure that would normally only be available to clients without the tax-effectiveness of an investment bond.
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