TYE and COVID-19 update communication 25th March 2020

We hope this email finds you safe and well.

As circumstances continue to develop and Government advice steps up, we would like to keep you informed of process and administrative changes relevant to service.  This includes information and requests from third party service providers.

The health and safety of our team is our priority and so all staff are now working remotely while we continue to be fully operational.  As previously communicated, we would appreciate that you continue to use Freshdesk as the primary contact method.

Follow up to TYE dates:

We recently wrote to you advising of our TYE deadlines and highlighted that we are working on a best endeavours policy given the exceptional circumstances we find ourselves in.  In light of the most recent Government advice, banking and postal services are restricted and so we would ask, where possible, that electronic payments be made in place of cheques.

Payment Methods:

As per the request above, please do not send cheques where possible and instead use electronic payment methods.  The current restrictions to banking and postal services mean that delays are likely.

Transfers:

Given current circumstances, we have agreed with TeX that scanned copies of signed transfer forms will be accepted.  The email address to send the scanned forms to is transfers@hubwise.co.uk   We are encouraging ceding parties to work in this way too.

Full Withdrawal Requests:

Due to the current levels of market volatility, the functionality which allows a full withdrawal request based on portfolio value is not always able to complete automatically.  Until further notice, we would ask that such instructions are followed up with a Freshdesk message, titled “Full Withdrawal Request”, which will enable us to check that each request has been executed correctly.  Please also advise in this message whether the account is to be closed.

Hartley Pensions:

Hartley have advised that they are able to accept scanned copies of documents via email and that this is their preference whilst there is uncertainty around the service levels from Royal Mail.  Any documentation that Hartley are required to share with clients and Financial Advisers will be sent electronically, where possible.

Many pension providers have closed their phone lines which is making it difficult for Hartley to follow up on pension transfers.  Hartley have assured us that they will do all that they can to keep transfer requests on track.

Intelligent Money:

IM’s office reception has been shut down and therefore IM are currently unable to receive any post.  Key members of staff will remain on hand to ensure no client is adversely affected, although they do wish to advise that this may have an impact on response times for non-automated requests.   IM will also ensure that all pension, ISA and GIA withdrawals will continue to be made to clients on time and all online applications and instructions will remain automatically processed during this period.  So, in this respect, business will continue as usual.