Key facts

Wealth Management Portfolio

Here you can find out the key facts of the Wealth Management Portfolio.

Description	International single contribution, life assurance, investment bond
Basis the plan can be issued on	It can be set up to cover: Single life (one person only) Life of another (for example you can take the bond on your grandchild’s life) Joint life/last survivor (cover up to 6 people’s life and will continue until the last person covered dies)
Age eligibility
Minimum investment	£15,000 (where you invest 100% in AEGON Portfolio funds) £75,000 (where the assets are also held with another investment provider or you select UCITS restriction under the European portability option – see the later section for more details)
Minimum additional investment	£5,000. We allow these at any time as long as you are resident in the EEA and haven’t taken advantage of the European portability option for Spain.
Maximum investment	None
Number of plan policies	10 are issued as standard but up to 100 are available on request.
Payment method	Cheque Telegraphic transfer Banker’s draft Stocktrade – third party share-dealing service
Payment currency	Any currency we can get a commercial conversion rate for.
Plan currency	Wealth Management Portfolio can be denominated in Sterling, US Dollars or Euros.
Fund choice	You can invest in any of our Portfolio funds. If you invest £75,000 or more, you can also choose any other acceptable collective investment. Find out more in our Fund choice section. Investment restrictions apply to secure tax deferral if your client wants to select the European portability option and move to Spain. You can read more about the European portability option below. If you hold investments with another investment provider, your bond will have a cash account. How much has to remain in this depends on which custodian is holding the assets. We recommend that 5% of the contribution is kept in the cash account to cover charges and withdrawals. From time to time we may either credit or debit interest to the cash account, depending on the balance. If you ask for assets to be held with a different custodian then we’ll need a minimum balance to be held in the cash account at the start and the balance to be topped up from time to time. The value of investments can fall as well as rise and you may not get back the amount you originally invested.
Switching/dealing	We give you 25 free deals each policy year – after that we charge £23.25 for each deal. In addition, the cost of the transaction (for example custodian charges) will also be passed on to you. This applies to all deals, including the first 25 free deals in each policy year. We treat a switch between two assets or funds as two deals, in other words one sale plus one purchase.
Withdrawals	You can take money out of your plan at any time by: cashing in one or more complete policy segments, or withdrawing money equally across all policy segments Different tax treatments apply, so before withdrawing money from your plan we recommend you speak to your financial adviser. Depending on the charging structure you and your financial adviser decide on there could be a charge for cashing in policy segments. The minimum amount is £500 for regular or one-off. Regular withdrawals We can set up regular automatic money withdrawals across all policy segments. If you have a cash account we’ll take the money from there. If you’re invested solely in our Portfolio funds, we’ll cancel units. You can take regular withdrawals monthly, quarterly, half-yearly or yearly. One-off withdrawals You can take one-off withdrawals at any time. Cash-in charge A withdrawal can be taken from all related policies as long as the remaining value of the related policies after the withdrawal would be more than 20% of all contributions that are subject to a cash-in charge. If the remaining value is less than or equal to 20% of all contributions that are subject to a cash-in charge, we’ll fully cash in all related policies. If withdrawals from any policy segment go over this amount, that segment must be fully cashed in and cash-in charges applied.
European portability option	Designed if you want to move to France, Italy or Spain. Provides you with the option of a compliant and qualifying income tax deferral vehicle in these jurisdictions. Investment restrictions can apply when the bond is set up if you’re planning to move to Spain and want to benefit from tax deferral. The WMP must be set up so that the investment is in UCITS compliant funds from the outset. Your financial adviser can give you more information on this. There’s no extra charge if you select this option. We’ll provide you with full ongoing support, including a Welcome pack and the information you need to comply with the income tax obligations in your new country of residence. The European portability option section gives you more details.