The rise and rise of offshore sales

Recent Defaqto research revealed that demand for well-equipped financial advisers to deal with the offshore market is set to grow. It is clear that many of the myths surrounding offshore - that it is complicated, expensive, unregulated, for tax evasion and only for the very rich - have now been dispelled. For many IFAs and clients alike, offshore is part and parcel of mainstream financial planning, particularly for retirement, and will inevitably continue to rise

Offshore sales continue to demonstrate impressive growth, with 2006 showing a 62% increase over 2005 to reach £7.15bn. Half-year figures (to July 2007) are already over the £4bn mark. As the graph on the right illustrates, the increase in offshore sales has been nothing less than meteoric - almost quadruple - over the last five years and recent Defaqto research revealed that demand for well-equipped financial advisers to deal with the offshore market is set to grow. So what are the drivers behind these impressive numbers, and is this trend set to continue? Obviously, the specific benefits...