Withdrawal Request and Account Closure

IFAs can request a full withdrawal/account closure through the portal by selecting:

All Account Options → Withdrawals, and then enter the full account value displayed on the withdrawal screen

• We will sell down any investments where required
• All fees due up to the withdrawal date will be deducted from the final payment
• The account status will update to Intention to Close

If the account value is under £100, the portal cannot process the closure. Please raise a Freshdesk ticket and our dealing team will action this manually.

2% Tolerance Rule

We operate a 98% tolerance for closures. If the withdrawal amount is within 2% of the full account value, we will automatically treat this as a full closure and close the account.

Payments are sent by Faster Payments to the nominated bank account.

When a withdrawal is submitted:

• The system checks whether sufficient cash is already available. If not, trades are placed at the next available dealing point to raise the required funds
• Once trade confirmations are received, the withdrawal amount is debited from the account - this is not the payment date, but prevents the funds from being reinvested
• The payment is released once all sales have settled, and the final settlement date determines the payment date.  In rare cases where a fund manager, broker or custodian has not delivered settlement proceeds on time, payment may be delayed until settlement is received.

The portal displays an estimated payment date based on these settlement timelines. IFAs should avoid chasing for updates until after this date has passed.

• An income withdrawal instruction will be added, this ensures any later distributions or interest received are automatically paid out.
• Any additional amounts received after closure will be sent to the same nominated bank account