Utmost Wealth Solutions has launched a capital redemption option on its Dublin-based offshore bonds, the group has announced.
Utmost Ireland was launched three months ago as reported in International Investment, and this move brings the Dublin-based portfolio into line with the group’s Isle of Man offering.
The introduction of capital redemption on the Dublin-based Delegation and Selection bonds would, the group said, ensure greater flexibility in estate planning, managing the timing of chargeable events or when there is a need for more control over the choice of beneficiaries.
This was, the company said, proof of their continuing commitment to the UK adviser market, especially those advisers with high net worth clients for whom offshore bonds was an important part of the mix in terms of retirement, estate planning and wealth management”.
Simon Woolnough, head of sales, proposition and marketing (pictured left), said, “We have ambitious growth plans for Utmost Wealth Solutions. The addition of a capital redemption option to our Dublin-based portfolio is a further demonstration of this commitment. It enhances the range of options advisers can offer their clients when considering the most appropriate financial planning solutions via a choice of capital redemption or life assurance bonds, in addition to a choice of jurisdiction.”
The company said that the product suite will be backed with technical advice from the team as to how most effectively to introduce offshore bonds into clients’ portfolios.
Utmost Wealth Solutions has been operating in the offshore market for 25 years and says that to date it has attracted over £12bn of assets on behalf of more than 36,000 policies.