Evelyn Partners MPS expansion has extended the reach of its Core and Index model portfolio ranges by making them accessible through onshore investment bond wrappers across five major adviser platforms: AJ Bell, Aviva, M&G, Quilter and Transact.
Matthew Spencer, head of intermediaries at Evelyn Partners, said the move would give advisers greater choice in combining professionally managed portfolios with wrappers that support clients’ tax and financial planning needs. For advisers constructing income-efficient or intergenerational solutions, onshore bonds carry specific tax treatment that may suit certain client profiles, particularly where top-rate income tax deferral or assignment to a lower-rate beneficiary is part of the plan. Whether that benefit is material depends entirely on the individual client’s circumstances and the adviser’s assessment of wrapper suitability.
What the Evelyn Partners MPS expansion means for wrapper planning
Model portfolio services accessed through onshore bond wrappers are not a new concept, but the breadth of platform coverage here is worth noting from an operational standpoint. Advisers who already use these five platforms to service clients holding bond wrappers can now consolidate discretionary management within those same environments, rather than running separate arrangements. The trade-off, as with any MPS accessed through an insurance wrapper, is an additional layer of charges that must be weighed against the tax planning rationale. There is no single right answer; a careful cost-benefit analysis over the client’s likely investment horizon remains the appropriate starting point.
Pension IHT changes and the broader planning picture
The MPS wrapper development sits within a broader context of accelerating tax planning activity. From April 2027, most unused pension funds and death benefits will be brought within the value of an individual’s estate for inheritance tax purposes, alongside changes to Business and Agricultural Property Relief. Debbie Seaton, chair of the Association of Member Directed Pension Schemes, argues in a separate piece that self-invested pensions deserve a closer look not just as a source of additional tax burden, but as a planning tool in their own right. That reframing may prove useful for advisers and clients working through the implications of the new rules.
Elsewhere, HSBC Asset Management has launched the HSBC Global Funds ICAV II Islamic Global Infrastructure Equity Fund, a Shariah-compliant vehicle investing in a concentrated, globally diversified portfolio of listed infrastructure companies across utilities, energy, transport and communications. The fund is designed to provide diversification away from technology-heavy Shariah equity benchmarks, where infrastructure has historically been underrepresented. It will be available to wholesale and institutional investors in markets including the UK, MENA, Singapore and South East Asia, subject to local regulatory requirements.
Finally, St James’s Place has confirmed that external access to its Technical Connection and Techlink services will end on 6 March 2027. Advisers outside the SJP group who currently rely on Technical Connection for guidance across taxation, trusts, pensions and investments will need to identify alternative sources of technical support before that date.
