Back office - need to know

Justin Blower, Head of Sales and Marketing, Ascentric

     

        Justin Blower

        Head of Sales and Marketing, Ascentric

     

The information contained in this page is for professional Financial Adviser use only.

Last week I announced that the next transition to the new platform is targeted for 7 January. To ensure clients move across seamlessly, it’s really important to organise your business around some key dates. You will find more information here.

Whether this is the first of your clients to move or you’re already using our new platform it's important to make sure you can continue to receive client valuations via your back office. This means all our advisers will need to configure their back office on 7 January and we've been working hard with major back office providers to make this as simple as possible for you.

If you use any of the following suppliers or software we’ll be sending your back office valuation service provider a secure data file which will be uploaded to your system centrally. 

Intelliflo

True Potential

Creative Tech (Best Practice)

Time for Advice

IRESS XPlan

Praemium (Plum)

Sprint (Fastrak)

Figure Out

Durell

 

If you use any of the suppliers or software below, we’ve made it easy to complete the necessary process. All you need to do is download your mapping file from the ‘Legacy Account Mapping Extract’ in the Front Office of the new platform. You’ll find this in the reports hub on Monday 7 January 2019.

JCS

Sammedia (Moneyinfo)

Moneyhub

Assyst

IRESS Adviser Office

And all other providers

If you have a bespoke back office, then again, you’ll need to download your mapping file from the ‘Legacy Account Mapping Extract’ in the front office of the new platform on Monday 7 January. Just look for the icon below. You need to convert references before taking your first extract from the new platform.

Legacy Account Mapping Extract Icon

Please note in the 7 January ‘Legacy Account Mapping Extract’ you’ll receive a reference for all your clients now on the new platform irrespective of when they moved. This is part of the process and there is no cause for concern. We do though recommend that you contact your provider before processing the first data extract on 7 January in case additional instructions are required.

Manual mapping of some SIPP accounts

The vast majority of records contain one account reference per client. Where we’ve created additional accounts for clients in our SIPP who are in decumulation, you may need to match these manually to the client’s master record after running the extract. This impacts circa 10% of SIPP clients. Please contact your back office provider for any assistance you may need.

Further information about the move

To find out more about what to expect on 7 January, look out for our emails. We’ll keep you posted on progress but if in the meantime you have any questions please email BDC@ascentric.co.uk or call 0345 076 6140.

Call our sales team

The Ascentric Wrap platform is available for Financial Advisers to support their business. Find out how we could help add more value for your clients

01225 787 575

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