Standard Life is looking to grow its offshore bond business after securing three new platform positions for its International Bond.

It announced the new panel partnerships with 7IM, Nucleus, and Parmenion, alongside building on its existing arrangement with the Elevate platform, amid a 56 per cent increase in sales for its International Bond in 2024.

The firm stated that advisers were increasingly looking to incorporate offshore bond solutions into client portfolios as an efficient way of passing on assets, following the government’s proposed inheritance tax (IHT) reforms announced in the Autumn Budget.

Research from Standard Life found that 58 per cent of independent financial advisers had ‘reevaluated’ the role that offshore bonds could play in client plans following the government’s announcement.

Standard Life said the new panel positions would widen the reach of its International Bond and increase accessibility to advisers and their clients.

The International Bond will be available across the four platforms as part of a general investment account.

“With significant IHT changes anticipated in coming years, the opportunities to further protect clients and provide tax efficient returns has put offshore investing front and centre with advisers and their UK clients,” said Standard Life head of retail intermediary and private client distribution, Warren Bright.

“We have been steadily building our presence in the offshore market with our International Bond spearing heading our approach.

“Securing panel positions with key platform providers is central to our strategy and opens up the benefits of offshore investing to a wider audience of retail investors.

“A significant plus for advisers using the 7IM, Nucleus and Parmenion Platforms to access International Bond is the ability to seamless align a client’s existing investment strategies with a single account.”

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