Notice of upcoming release - 01 April 2021

Dear Client,

We are pleased to advise you of our latest software release which is planned for the evening of 1 April 2021.  

This release includes:

New Features:

New Third Party Pensions.  We have added the James Hay SIPP and Talbot & Muir SIPP and SSAS to our Platform.  Subject to agreement with these providers, any Partner IFA can use these products.  In the first instance please raise a Freshdesk ticket to request permissions and we will offer you training and enable the product(s) to be accessible in your Portal.

Tiered Adviser Charges.  We have enabled the support of tiered adviser charges.  Please raise a Freshdesk Ticket if this is something you require more information on.

Enhance the AML check capability.  We have enhanced the AML screen to allow you to carry out a more in depth review of investors that have failed AML.  This new screen presents an option to view application/investor details with AML status.  Upload of documents is supported together with the ability to manually incept the investor.

Hubwise Hartley SIPP Drawdown Arrangement and Illustrations.   Illustrations and electronic submissions for flexi access drawdown, UFPLS, PCLS, annual income and taxable lump sums are now supported.  The Illustration can be viewed, printed and downloaded and shows contributions and all fees and charges incurred.  This first release is designed to provide for straight through processing for investors moving from accumulation to deaccumulation.  Please refer to our Freshdesk Knowledge base for the procedure to be followed. Please contact us if a training session would be of benefit. A subsequent release will support drawdown illustrations as part of the new investor application process and we will update you in due course.

Multi Investment Strategies.  This release supports the ability to assign a model with a number of strategies to a given SIPP  account.  The primary and the resulting  sub accounts will support these strategies.  This first delivery can be used for new applications but also for current accounts that are constrained due to all holdings within one account.  Subsequent phased deliveries will enable the partner firm to manage assets between sub accounts.  This functionality is to be launched through an early adopter programme before wider usage is provided. We will write again once this is fully rolled out to all firms. 

Corrections:

CGT display.  Within our CGT display we have removed references to carried forward gains/losses amounts on the back of client feedback.

Beneficiaries.  We have updated our beneficiary validation to support the addition of non UK addresses.  

Advance Notice:

Change to Static API EXTTRANS file.  The transaction extract csv that is part of the Static API will be changed on 12 April 2021 to add two further columns that will be positioned at the end of the current file format.  The two columns to be added are:

• batch reference (11numerics)

• item (7numerics)

Together the batch reference and item number is the unique reference number for a given transaction.  We have made this change to assist your reconciliation process, based on client feedback. This change may require modification to the partner’s process that digitally uploads the file.         

Should you have any questions then please contact the Customer Services Team via your Freshdesk Account.

Kind regards