Cash- No Expectations- Notification of Release 19-20 Sept 2020

Dear Client,

Please be advised of the latest update as part of our continuous improvement programme, providing notification of cash movements, which will be released over the weekend of 19-20 September 2020.  

Release Detail:

Where a payment has been received for an account without an expectation, OR there is an expectation but not within a 10% tolerance, the cash will be posted to the account as a ring fenced amount.  An Actions Report will be issued to the advisor at the end of day listing this cash movement in conjunction with other business events that may need investigation.   

An email will also be sent to the IFA Administrator(s) notifying that a report is available and requires attention. 

If the expectation has a contingent adviser fee payable, this payment will be triggered even if the cash amount is outside tolerance.  The fee will be marked as paid, so any subsequent instalments received will not result in paying the adviser fee again. 

If the payment is valid, the Administrator should take the necessary actions to remove the ringfenced amount and request the investment of surplus cash. 

If the Administrator considers the payment is invalid then a Freshdesk ticket should be raised.  

Should you have any questions then please contact the Customer Services Team.

If you experience issues with the platform, please raise a Freshdesk ticket.  Please do not reply to this email address as replies will not be monitored.