Create a tax-efficient portfolio that can evolve with your clients’ needs.
Because your clients’ circumstances vary over time, we’ve designed a product that you can tailor to meet their changing needs. Evolution (provided by Utmost Limited) can be used to grow, manage and preserve your client’s wealth, even enabling them to pass it on for the benefit of future generations.
With Evolution you can aim to help your clients reach their growth, income or tax-planning targets with a range of investments, all managed in one place.
- Your clients can:
- Defer tax on any investment growth until a convenient time
- Choose from thousands of funds
- Switch funds to respond to market changes
- Use an investment platform
- Use a discretionary manager
- Combine it with a trust for inheritance planning
- Download a quick guide
Evolution is an investment bond, based in the Isle of Man and is designed for clients who want to invest for the medium to long term – 5 to 10 years or longer.
Your clients can choose Evolution on a life assured or capital redemption basis.
- A life assurance bond – can continue for the lifetime of the lives assured.
- A capital redemption bond – can continue for up to 99 years.
Your clients can decide which option to take when they set the bond up. Please bear in mind, they can’t switch later on.
Your clients’ funds can grow free of tax while they are held in the bond, with the exception of withholding tax, which is deducted at source from certain funds. And their funds can be switched free of tax too. They’ll usually only pay income tax on any gains when they take money out. That means they’ll be able to have some control over when they pay the tax, allowing them to pay it at a convenient time.
That’s not all: they can also take up to 5% of their original investment amount each year, up to a total of 100% of their original investment amount over twenty years, through regular or one-off withdrawals, without any immediate tax liability. And if they don’t use the full 5% annual tax-deferred entitlement in one year, then it can be carried over to following years – so they don’t miss out.
If your clients do go over the 5% annual tax-deferred entitlement, the extra amount may be liable to income tax.
Sometimes your clients might need to take a lot more than their 5% annual tax-deferred entitlement. To help with this and allow even more tax-planning flexibility, Evolution is split into lots of identical policy segments, which can all be cashed in or assigned individually.
Evolution could play an important role in your clients’ UK inheritance tax planning. To pass on their wealth in the way they’d like, your clients might want to set up Evolution and a trust at the same time. Or, if they’d like to start their inheritance tax planning later on, they can set up Evolution first, and then assign it into a trust in the future.
To learn more about how trusts could help your clients plan for UK inheritance tax, view the additional information on our trusts and trustee service page or call our Customer Support team on +44 (0) 1624 643 345.
(Telephone calls may be recorded)
- You and your clients can choose from thousands of funds available through Evolution.
- You can also manage your client’s portfolios using an investment platform, or you could outsource it to a discretionary manager.
If your clients choose to have their investments managed on an investment platform or by a discretionary manager then our charges may be higher, depending on whether or not they can send us electronic valuations. Look at our charges guide for full details.
Evolution is for individual, corporate, trustee and joint investors over the age of 18. There’s no maximum age, and it’s available in a choice of pounds sterling, US dollars or euros.
Evolution is designed for UK residents.
The minimum investment amounts are:
£50,000, US$100,000 or €75,000
If they’re resident in the UK, your client can also invest more money at any time they want, subject to a current minimum of £5,000, US$10,000 or €7,500. There’s no maximum investment amount.
Find the information you need to service and act on investment changes for your clients. You can:
- Produce pre-sale illustrations
- Create valuations showing what your clients’ bonds are worth
- Switch between different funds
- Show your clients their investments online
Once you’ve registered, illustrations are quick and easy to produce. And, using the search facility, you can find any illustrations you’ve already saved quickly and easily. You can also download a print quality version to email on to your clients.
To get an illustration, register with or log in to Utmost online.
You can find Evolution literature in our literature library. Or you can get started now by downloading our client-friendly Product Guide.
Expert Help, a Phone Call Away
We’re here to talk through the options available. Get in touch with us on
or talk to your Regional Sales Manager. Please note that we might record your call to help us improve the service we give you.