Aegon has partnered with Utmost Wealth Solutions Ireland to expand its offshore bond partnerships on the Aegon Retirement Choices (ARC) platform.

The new partnership comes in addition to its existing partnership with Canada Life International Isle of Man, with the firm stating that its expansion reinforced its commitment to providing comprehensive solutions for advisers.

Aegon said that the addition of offshore bond provider partnerships enabled advisers to provide tax-efficient solutions for use with their clients.

Through the use of the general investment account on ARC as a means is investing within the offshore bond, advisers can use their established centralised investment proposition to invest their client’s money.

The firm noted that offshore bonds were gaining traction following the recent changes to capital gains tax, the freezing of income tax thresholds until April 2028, and the extension of inheritance tax to unspent pension pots from April 2027.

These changes, which were part of the government’s Autumn Budget announcements in October, were “significantly impacting” wealth management and succession planning strategies, Aegon said.

“During last year’s Strategy Teach-In, we announced our plan to become the leading digital retirement and investment platform, and our aim to support the advice community,” stated Aegon head of retail, Stephen Crosbie.

“This includes providing them with efficient tax planning solutions, especially for clients in their ‘Second 50’ and beyond.

“To meet the dynamic demands of robust tax planning in a shifting regulatory environment, we’ve reacted quickly and introduced a new offshore bond partnership with Utmost Wealth Solutions Ireland to add to our existing relationship with Canada Life International Isle of Man.

“These, together with upcoming enhancements such as the addition of more offshore bond partnerships, a Junior SIPP and Junior ISA, help us towards our ambition to offer advisers a holistic financial planning platform which is fit for the future.”

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