Monthly Web Release - 06/07/2023

Dear Client, 

We are pleased to advise that our month end release for June 2023 will be implemented on the evening of Thursday 6 July.  

This release includes new additions, updates and improvements to functionality in the Portal, the details of which can be found in the notes below.  We would ask that you review these items and cascade to your teams as appropriate.

In the event that there are any changes to what we have share with you, then we will provide a follow-up note at the earliest opportunity.  

Adviser Initial Transfer Charge
It is no longer possible to add an adviser initial transfer charge via the Add/Amend Charges journey as it requires a transfer which cannot be added here.  Previously, this charge type was available regardless of the absence of related transfer contributions.

Selected model details in the Start Illustration journey
 Previously, if the SIPP Start Illustration set up tool was used for either Managed or Bespoke models, saved and returned to at a later point, the model details were not retained and appeared blank

We have corrected this to ensure that the selected model details in the Start Illustration journey are now saved and correctly loaded when reopening a saved illustration.

Drawdown related date values in the Start Illustration journey
The date values entered in the Start Illustration journey for drawdown income are now saved so they are present when reopening a saved illustration.

Top-up illustrations and MPAA value
Previously, the account's Money Purchase Annual Allowance (MPAA) value was preventing users from having the option to produce a top-up illustration.  This has now been corrected so that the top up illustration can be produced.

CTC Download CSV file action                                                                                               

When accessing the CTC or CGT documents for an account, the action button was incorrectly labelled “Print PDF”.  This has now been corrected to show “Download CSV”.

JISA amendment letter PDF
Adding a transfer amendment to a JISA no longer causes the amendment letter to fail to generate.

Payment drop down to include available 3rd parties
The account charges dropdown menu has been updated so that only relevant third-party product charges are now displayed.

Application journey to support onboarding of existing pensions already in drawdown
The application journey has been updated for pensions to allow the onboarding of pensions that are already in Drawdown or are to immediately go into drawdown on receipt. 

There is a new Drawdown required option at the Configuration step which enables a new Drawdown Arrangements step to allow the income details to be captured and the necessary movement records written out upon account creation. 

The steps have also been reordered for all pension applications to provide a better flow so that users are no longer required to go forward to the Status & Source of Wealth step, but then go back to generate a fully detailed illustration.

Freshdesk Knowledge Base URL to be made available and added as a link directly from the Portal
There is now a link on the Adviser Portal dashboard that takes the user directly to the Freshdesk Knowledgebase, without the need for them to log in to Freshdesk. This link only provides access to the Knowledgebase area but has a login option for users with full access to Freshdesk.

https://knowledgebase.hubwise.co.uk/support/home

Drawdown illustrations for existing SIPPs                                                                     

When generating a drawdown illustration for an existing SIPP client via the “all account actions” menu, a few anomalies were identified which have now been corrected.  These are:

1. Weighted average charge did not pull through
2. Model name was not appearing in the “where will your savings be invested” section
3. DFM fees were not pulling through to the charges section
4. Model name did not appear in the Investment Fund charges section
5. In the section “each year charges will reduce the assumed annual growth rate of your plant after inflation by…”, not all charges were being included

Adviser annual and initial fees                                                                                         

Within the “Account Charges” section of the account application journey, we have added the ability to default the adviser annual/adviser initial fee (for both % and absolute) to be populated from a configuration file that is set at a sub customer level.  The default values should be dependent on the investor’s selected service level.  If there is no configuration for the customer then the default will be 0.  Although a default will be applied, the values can still be amended.

With sub customer configuration (service level applied)

Without sub customer configuration

SS&C Hubwise SIPP Beneficiaries Management                                                                                                     

We have updated this functionality (located in the “all account actions” menu) to allow the Adviser to manage the following scenarios for SS&C Hubwise SIPPs:

1. To add beneficiaries to an investors SIPP where there are none existing
2. The removal of one or more beneficiaries from an investor’s SIPP
3. The ability to manage changes to existing beneficiary details

Regular Contribution Direct Debit Amendments                                                                  

We corrected an anomaly whereby in some instances, amendments to existing Regular Contribution DD instructions were resulting in the original instruction being duplicated in the portal.   This was restricted to amendments where the wizard was saved at the end of the journey for review and submission at a later point

Performance Dashboard                                                                                                          

We have made a minor update to the Portfolio Performance Dashboard to increase accuracy of performance over an extended period