Want to Change Your RL360 Adviser or Get a Second Opinion?
Russell Hammond
Chartered Financial Planner & Chartered Investment Adviser · FPFS FCSI
In this article
Every pound paid in avoidable charges is a pound that is no longer working for your future. Controlling costs is one of the few factors investors can directly influence.
Key takeaways
- No need to surrender: You can appoint a new independent adviser to your existing RL360 bond without surrendering the policy or losing its tax-deferral benefits.
- Reduce hidden costs: Many legacy portfolios suffer from high ongoing charges (e.g., 2.2% p.a.). Restructuring with evidence-based funds can often drastically reduce these costs to around 0.33%.
- Gain a clear strategy: An independent second opinion helps eliminate overlapping funds, improves global diversification, and realigns your portfolio with your actual retirement goals.
- UK-regulated advice: If you have moved back to the UK since opening your bond, switching to a UK-regulated, Chartered adviser ensures your wealth is managed compliantly and efficiently.
If you hold an RL360 investment bond and are considering changing financial adviser, you’re not alone.
Many RL360 policyholders originally established their bond years ago, often whilst living overseas or working with an adviser they no longer hear from regularly. They may have moved back to the UK and are thus now looking for UK regulated advice for their RL360 offshore bond.
Others simply want a fresh pair of eyes on their investments, charges and overall strategy.
The good news is that you can appoint a new adviser to your existing RL360 bond without surrendering the policy or disrupting its tax benefits.
Whether you’re unhappy with your current service, concerned about investment performance, questioning the fees you’re paying or simply looking for a second opinion, an independent review can often uncover opportunities to improve your position.
Why Clients Typically Contact Me
Most enquiries fall into one of the following categories:
- My adviser has retired or moved on
- I no longer receive regular reviews
- I have moved back to the UK and would like to receive UK-regulated advice
- I’m concerned about investment performance
- I thuink I’m paying high fund charges (with hidden commissions)
- My portfolio hasn’t been reviewed for years
- I want an independent, and unbiased, second opinion
Can You Change Adviser on an RL360 Investment Bond?
Yes.
Many investors are unaware that it is possible to appoint a new adviser to an existing RL360 investment bond without surrendering the policy. I’ve taken on many existing RL360 bonds over the years.
This means you can continue to benefit from the existing tax structure of the bond whilst receiving fresh advice, a new investment strategy and ongoing support from a different adviser.
In many cases, changing adviser is a straightforward process that requires only the completion of the relevant adviser appointment forms.
Case Study: Reducing Fund Costs from 2.2% to 0.33% Per Year
A recent client approached me with approximately £1 million invested through an RL360 offshore bond.
The existing portfolio contained a collection of actively managed funds with total ongoing fund charges of approximately 2.2% per annum.
While the funds themselves were not necessarily unsuitable, the portfolio suffered from several common issues:
- High ongoing costs
- Significant overlap between holdings
- Limited diversification
- No clear investment philosophy or portfolio structure
The result was an immediate reduction in underlying fund costs from approximately 2.2% per annum to 0.33% per annum.
The client also benefited from:
- Broader global diversification
- Reduced concentration risk
- Greater transparency
- A simpler and more coherent investment strategy
- Improved long-term expectations for net returns after costs
Integrated Financial Planning – Advice on the offshore bond was provided as part of a wider financial planning strategy, ensuring it complemented the client’s broader goals, objectives and long-term financial position.
Of course, lower costs do not guarantee higher returns and investment performance can never be guaranteed. However, reducing unnecessary expenses can significantly improve the proportion of returns retained by investors over the long term.
Why Costs Matter
Many investors underestimate the impact of charges on long-term investment outcomes.
A seemingly small difference of 1% per annum can compound into a substantial amount over a retirement spanning 20 or 30 years.
Whilst cost should never be the sole consideration when selecting investments, unnecessary costs should always be challenged.
Every pound paid in avoidable charges is a pound that is no longer working for your future.
Why Consider a Second Opinion?
A second opinion can help answer important questions such as:
- Are my investments still suitable?
- Am I paying more than I need to?
- Is my portfolio properly diversified?
- Are there more tax-efficient planning opportunities available?
- Am I receiving value for the fees I pay?
- Does my current strategy remain aligned with my objectives?
Many clients find that even when no changes are recommended, the review provides valuable reassurance and peace of mind.
My Approach
As a Chartered Financial Planner and Chartered Investment Adviser, I specialise in helping UK residents, UK expats and internationally mobile families manage investments, pensions and offshore structures.
My focus is not on chasing market predictions or selecting fashionable funds.
Instead, I build evidence-based portfolios designed to deliver competitive long-term returns whilst keeping costs under control through broad diversification, disciplined portfolio construction and low-cost investment solutions. You can read about how the experiences that some of my clients have had with working with me here, at adviser review site: VouchedFor.co.uk
Free RL360 Investment Bond Review
If you hold an RL360 investment bond and are considering changing adviser, or simply want an independent second opinion, I offer a free initial review with no obligation.
During the review we can discuss:
• Your current investment strategy
• The charges you are paying
• Portfolio diversification
• Performance expectations
• Tax planning considerations
• Whether your existing adviser arrangement continues to represent good value
In many cases the review simply provides reassurance that everything remains on track. In others, it may identify opportunities to reduce costs, improve diversification and better align your investments with your long-term objectives.
If your RL360 bond has not been reviewed recently, or you are questioning whether you are receiving value for the fees you pay, now may be an ideal time to obtain an independent second opinion.
Click here to arrange your free RL360 investment bond review or book an initial consultation.
Whether you ultimately decide to make changes or remain with your current arrangement, a second opinion can help ensure you are making informed decisions about a significant part of your wealth.
Ready to review your RL360 bond?
If you’re concerned about high fund charges or feel your RL360 bond hasn't been properly reviewed in years, I'd be delighted to offer a complimentary second opinion. Simply use the button below to arrange a no-obligation discussion.
No obligation. Initial conversation is free. FCA regulated.
Frequently Asked Questions
Can I change the adviser on my RL360 investment bond?
Yes, you can appoint a new adviser to your existing RL360 bond without surrendering the policy. This allows you to keep the existing tax structure while receiving fresh advice and a more efficient investment strategy.
Will changing my adviser trigger a tax charge?
No. Merely changing the appointed adviser on your RL360 bond does not constitute a chargeable event, meaning your tax deferral benefits remain fully intact.
How can an independent review improve my RL360 bond?
A review can identify unnecessarily high fund charges, poor diversification, and overlapping investments. Restructuring can often reduce costs significantly, sometimes from over 2% to around 0.33% per annum, boosting your net returns over the long term.
What if I have moved back to the UK?
If you originally established your bond as an expat but have since returned to the UK, it is highly recommended to appoint an FCA-regulated, UK-based adviser to ensure your bond is managed correctly under UK tax rules.
CharteredRussell Hammond FPFS FCSI
Chartered Financial Planner & Chartered Investment Adviser
With over 20 years advising on offshore investment structures and long-term wealth planning, Russell works with individuals and families who want their wealth to work harder and pass further. He holds the Chartered Financial Planner designation from the Chartered Insurance Institute.
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