Bulletin - February 2021

2 min read 1 Feb 21

Some DFMs are no longer including VAT on their model portfolio fees

For a list of which DFMs this affects – including LGT Vestra and 7IM – please go to the ‘Service Updates’ area of the platform.

SIPP Annual Statements

These statements are produced annually for your clients, in the month that they opened the account. They're uploaded to the platform or posted to your client depending on their preference. It provides a summary of money in and out of their pension along with more in-depth information about what their projected pension will be for those still in accumulation or expected withdrawal rates if they're taking income.

We wanted to let you know that as of next month, March, these statements will include a more detailed breakdown of costs on the account. Previously there was a summary total but in response to new requirements from the FCA’s COBS we’ll include the fund manager charges and a detailed breakdown of costs, the same as they would see in their Annual Summary of Charges statements.

Previously the charges information looked like this:

From March 2021 the statement will include this breakdown:

Reset your login details online if you forget them

Remember, you and your clients can reset login details on the platform, without needing to call us.

Just go to “Forgotten your login details?” on the login screen and select whether you’ve forgotten your username or password.

Provided we have a unique email address on file for you, we’ll send you an email with either the reminder of your username, or the link to reset your password.