New platform news
Target date for next move – 7 January
With your help, we completed the second phase of the move on 26 November. Since then we have experienced an increase in call volumes resulting in longer waiting times than usual. We’re pleased to say that these appear to have now peaked and are gradually reducing - thank you for bearing with us at this busy time.
Just to remind you, the target date for the next phase of the move to the new platform is 7 January. For many of you this will complete your move. Recent testing indicates that we’re on track to achieve this date but if, during final testing, the level of confidence is not where we'd like it to be, we’ll move the date rather than take a risk. We’ll keep you informed every step of the way.
In preparation for the next phase of the move, certain functionality will be temporarily unavailable on the old platform from 13 December. Please read the important deadlines so you and your clients are ready.
Both our platforms will be unavailable and customer service lines closed from Friday 4 January to Monday 7 January, inclusive. This is a necessary step to complete the move and carry out a full verification. Further information is available here.
Back office house-keeping
When we move a new tranche of your clients, you need to reconfigure your back office to make sure you can continue to receive client valuations. We’ve been working with major back office providers to make this as simple as possible. Make sure you’re prepared by reading our need to know guidance and getting in touch with your provider.
Please also refer to your move checklist to find out how you can get in good shape ahead of the next phase of the move.
Top tips from our Platform Consultants
Many of you have attended one of the new platform training webinars hosted by our Platform Consultants. You can take a quick refresher course on many aspects of the new platform by visiting the training pages. In the meantime, here are a couple of tips from them.
When you use the new platform:
- Please don’t send us cheques and new money without having placed a commitment online using the ‘Add lump sum’ function on the account details card. This allows you to instruct your initial fee and to select the investments to be placed. If we receive money without a commitment it will result in delays to you receiving your fee and your client’s money being invested. Please also ensure that the commitment exactly matches the amount you are sending in to avoid having to re-input this - unfortunately we’re unable to do this for you.
- There has been some confusion around selecting the correct advisory/discretionary' option for Online Client Set-up (OCS). So let’s try and clear this up.
Only select the discretionary option if you have the permissions to act on the client’s behalf without explicit instruction from them. For any other form of relationship, select the advisory option.
Please keep an eye out for further new platform updates on the 7 January move.
Changes to dates for weekly fee payments around Christmas
Please note, due to the Christmas bank holidays some weekly payments for both platforms will be made later than usual.
|When is payment expected?||When will it be received?|
|Wednesday 26 December||Friday 28 December|
|Wednesday 2 January||Thursday 3 January|
Changes to adviser terms
To coincide with the launch of the new platform, we’ve taken the opportunity to update our adviser terms of business. Please take a look – the updated version for firms can be found here and the Network version here.
Get scanning and save on some shoe-leather!
Making the daily run to the post box is time consuming, and you’ve told us that you’d like to send more information by email. So we’ve increased the number of forms that we accept in scanned format, meaning you can save some money on stamps and simply hit the send button!
Here's the list of the forms we've added:
- Ad-Hoc Adviser Charge
- Changes to Adviser Charges (CTAC)
- Discretionary Fund Manager (DFM)
- Transfers of Servicing/ Novations (including platform transfer forms)
- Letters of Authority (LOAs), providing your firm is FCA registered
- ISA Declarations
Contacting us over Christmas and New Year
Over the festive period our opening hours will be:
|Christmas Eve||8.30am – 12:30pm|
|Thursday 27 December||8:30am – 5:30pm|
|Friday 28 December||8:30am – 5:30pm|
|New Year’s Eve||8:30am – 12:30pm|
|New Year’s Day||Closed|
|Wednesday 2 January||8:30am – 5:30pm|
We’d like to thank you for your support this year and wish you a wonderful Christmas and New Year. Here’s to a successful 2019!