Aegon Platform - Transaction history

Transcription

1 Aegon Platform - Transaction history This information is for intermediaries only. It mustn t be distributed to, or relied on by, customers. The screens shown are for demonstration purposes only. They may vary from the final screens.

2 Contents Aegon Platform - transaction history 2 Getting started Filter common transactions Cofunds historic transactions Trade confirmations Aegon Platform transactions Helpful documents

3 3 Getting started

4 Getting started 4 This training guide is designed to help you understand the different transactions that relate to the common trade instructions and what you and your clients see online and on their statements. Cofunds transaction history includes all transactions up to 4 May Aegon Platform transaction history includes all transactions from 5 May 2018 to date. You can view and download transactions for each product plus historic transactions for the Cofunds Cash Account. For a list of the common transactions, how they appear on the intermediary and customer dashboards and their definitions, download our guide from cofunds.aegon.co.uk.

5 5 Cofunds historic transactions

6 Cofunds transactions 6 To access your client s Cofunds transaction history: go to the client summary screen, then select the Cofunds transaction history button.

7 Filter transactions 7 Choose to filter by: the last three, six or nine months; your chosen start and end date; product or Cofunds Cash Account; selected funds, or selected transaction type. Select Apply. You can then choose to show from five to 100 records.

8 Cofunds transactions 8 You can export all transactions into Microsoft Excel.

9 Cofunds transactions glossary 9 Cofunds Cash Account transactions Product transactions Transaction Description Transaction Description Agreed Intermediary Remuneration Deposit Cash Income Initial Advice Charge Intermediary Remuneration Ongoing Advice Charge Regular Payment Ad hoc adviser charge for ISA and investment funds held in the general investment account (GIA) Cash paid into the client s Cofunds Cash Account Dividend payments paid into the client s Cofunds Cash Account Ad hoc adviser charge for pension or drawdown assets Ongoing adviser charge for ISA and investment funds held in the GIA Ongoing adviser charge for pension or drawdown assets The regular payment of dividend income as consolidated monthly income Investment Lump Sum Investment Regular Dividend Payment Switch In Switch Out Unit Conversion + / - Lump sum investment into collectives Regular investment into collectives Dividend distribution payment received from the fund Where a switch into new collective fund holding has been submitted Where a switch out of an existing collective fund holding has been submitted A fund conversion from income funds to accumulation funds or accumulation funds to income funds Or A fund conversion from commission-included share class versions into commission-free equivalent share class versions Regular Withdrawal Platform Charge The payment of a fixed regular withdrawal The payment of the Cofunds platform charge Sale for Regular Payment Automated sell down of units to top up the Cofunds Cash Account. The proceeds can be used to pay adviser fees, platform charges, fixed regular withdrawals and pension drawdown income for pension clients. Sale for Intermediary Remuneration Where a sale of units has been requested with the purpose of funding adviser fees

10 10 Aegon Platform transactions

11 Aegon Platform transactions To access your client s Aegon Platform transaction history: 11 go to the product summary screen of the product you want the transaction history for, and select the Transactions tab.

12 Aegon Platform transactions 12 You ll see a high-level view of transactions at first. Then select Full transaction history to view detail of: fund names; cash transactions; units, and unit prices.

13 Aegon Platform transactions glossary 13 Cash facility transactions Transaction Initial adviser charge Ad hoc adviser charge Ongoing adviser charge Annual charge Investment deposit Regular investment deposit Distribution reinvestment Natural income payment Description A one-off charge payable to you for initial advice costs agreed between you and your client for a single contribution and/or transfer payment. This is a one-off charge payable for advice costs agreed between you and your client on an ad hoc basis. Charge payable to you for ongoing advice, agreed between you and your client. Deduction of the Aegon Platform charge, we take this charge monthly. A single contribution has been received and allocated to the cash facility. A regular contribution has been received and allocated to the cash facility. This transaction appears for contributions into an ISA or GIA. This transaction type is used for money being invested into funds or money that's left in the cash facility to cover charges. Dividend distribution payments paid into the client s cash facility. The regular payment of dividend income as Consolidated Natural Income. Cash facility transactions Transaction Sale proceeds Regular investment withdrawal Investment withdrawal Asset transactions Transaction Distribution Acquisition of asset Disinvestment from asset Description Represents the payment received from the fund manager in respect of the asset that was sold. This is added to the cash facility. The payment of a fixed regular withdrawal. A one-off withdrawal. Description Dividend distribution payment received from the fund. The asset has been purchased and number of units bought updated. An acquisition of asset transaction type will be created for each purchase request transaction. The fund manager has confirmed the sale request. It s written as a negative transaction, representing the units that have been sold. If the whole asset is sold, the result will be a zero value on the product for this asset.

14 Filter transactions 14 You can filter for multiple transactions. Just select the filter icon in your chosen column, select the options from the list and select Apply.

15 15 Filter common transactions

16 Initial adviser charge 16 We pay initial adviser charges from cash. Initial adviser charges are available for single and regular contributions. They show as Initial Adviser Charge on the transaction history.

17 Ad hoc adviser charge 17 We pay ad hoc adviser charges from cash. They show as Ad Hoc Adviser Charge on the transaction history.

18 Ongoing adviser charge 18 We pay ongoing adviser charges from cash each month. They show as Ongoing Adviser Charge on the transaction history.

19 Ongoing service charge 19 We pay ongoing service charges from cash each month. They show as Ongoing Service Charge on the transaction history.

20 Annual charge 20 We pay the annual charge (platform charge) from cash each month. The charge shows as Annual Charge on the transaction history.

21 Buying assets 21 Purchases show as Acquisition of Asset on the transaction history. The transaction generates for each purchase request transaction and confirms the unit amount, unit price and value of purchase. It matches the information sent to the client in contract/confirmation notes.

22 Selling assets 22 Purchases show as Disinvestment from Asset on the transaction history. The transaction confirms the unit amount, unit price and value of sale. The transaction matches the information sent to the client in contract/confirmation notes.

23 Selling assets and cash top up transactions 23 Assets are sold when needed to top up cash to pay charges or withdrawals. The sale from assets show as Sale Request on the transaction history. Proceeds of sale show as Sale Proceeds into Cash on the transaction history.

24 Dividend distributions (Accumulation funds) 24 Dividend distributions appear in the transaction history useful for calculating a client s use of their dividend allowance for their GIA. It shows as Distribution on the transaction history. The fund name is shown in the Asset column which you can filter.

25 25 Dividend distributions (income funds) Show as Distribution on the transaction history. The fund name appears in the Asset column which you can filter. The distribution amount shows in the Amount column.

26 Dividend distributions (income funds) 26 We process dividends from income funds in two ways: 1. We add to the cash facility and it can be left there or we can pay it out to client. 2. We add to the cash facility and reinvest it to buy more income fund units. Each process involves specific transactions which you can see by filtering the transaction history. The transaction history shows the date the dividend distribution was received. This is different to the date the dividend distribution was applied to the client s product. We can only pay the dividend out to the client once it s been applied. We pay dividends at the next available payment date.

27 Dividend distributions (income funds) Your client can use dividend distributions consolidated natural income, to contribute towards fixed regular or percentage of product value withdrawals, and to offset adviser and platform charges. 27 In all cases above, distributions are received and then we reinvest into cash. The amount we reinvest into cash will show as Distribution Reinvestment on the transaction history.

28 Consolidated natural income 28 We pay this on 12 th and 19 th of each month. Includes all distributions received, reconciled and applied since the last payment. Shows as Natural Income Payment on the transaction history.

29 Regular withdrawals 29 We pay on 9 th, 18 th or 27 th of each month. The amount can be a fixed regular amount or a percentage of the product value. Shows as Regular Investment Withdrawal on the transaction history.

30 30 Trade confirmations

31 Trade confirmations 31 We produce a contract note (referred to as a trade confirmation) for new and additional: - single contributions into a product, and - cash transfers or re-registrations into a product. We send confirmations to you and your clients for certain transactions if we have a correct address. We don t produce trade confirmations for regular contributions. Switches inside a product produce a switch statement. Your client won t get a switch statement for recurring transactions such as auto-rebalances, cash top up sales or recurring switches into or from cash.

32 32 Helpful documents

33 Helpful documents 33 The labels we use to describe transactions on your dashboard are different to what we use for your clients. Download our guide Definitions of common transactions. There s one for intermediaries and one you can give to your clients. You can download the intermediary version from the document library. The customer version is available from the product summary screen on the customer dashboard.

34 34 Visit cofunds.aegon.co.uk for more information. APLT383475/01/19