For financial adviser use only. Not approved for use with customers. The Aviva Platform

Transcription

1 For financia adviser use ony. Not approved for use with customers. The Aviva Patform

2 Contents Wecome to our guide to the Aviva Patform 4 Due diigence in the patform market 5 Introducing the Aviva Patform 6 Everything in one pace 6 Key eements of our proposition 6 Heping you do better business 7 12 ways the Aviva Patform works for you 7 Efficient cient management 8 Comprehensive panning toos 8 Compete re-registration fexibiity 8 Summary of the Aviva Patform 8 Our range of funds and assets 9 Fund criteria 9 Muti-asset funds 10 Fund casses 10 Managed portfoio service 10 Buying and seing investments 11 Choose the right portfoio for your cient 12 Investment Portfoio 13 A wide range of investment options 13 Cear charging 13 Investment Portfoio charges 13 Investment Portfoio imits 13 Efficient cient management 14 The cash account 14 Comprehensive panning toos 14 Compete re-registration fexibiity 14 How your cients wi benefit 14 ISA Portfoio 15 A wide range of investment options 15 Cear charging 15 ISA Portfoio charges 15 ISA Portfoio imits 15 Efficient cient management 16 The cash account 16 Comprehensive panning toos 16 Compete re-registration fexibiity 16 How your cients wi benefit 16 Pension Portfoio 17 Pension Portfoio investment options 17 A wide range of investment options 17 Cear charging 18 Pension Portfoio charges 18 Pension Portfoio imits 19 Efficient cient management 19 The cash account 19 Comprehensive panning toos 19 Compete re-registration fexibiity 20 Aviva Pension Portfoio Trust 20 How your cients wi benefit 20 Income drawdown 21 Phased income drawdown 21 Singe income drawdown 21 Lump sums 21 Passing on drawdown pension death benefits 22 Income drawdown features and imits 22 The Aviva Patform 2 Contents

3 Cear charging through the Aviva Patform 23 Patform charges 23 Adviser charges 25 Fund manager charges 25 Equity deaing charges 26 Property deaing charges 26 Structured product charges 26 What we don t charge for 27 Summary of our approach to charging 27 Supporting you every day 28 Working with third parties 28 Re-registration 28 Mode portfoios 28 Fund-specific withdrawas 28 Toos and functionaity 28 What you get with the Aviva Patform 29 Accessing the Aviva Patform 30 Account support 30 Onine support 30 Hepdesk support team 31 Tax and trust speciaists 31 Straightforward processing 31 Pensions technica hepdesk 31 Managing risk and reguation 32 Heping you with audit trais 32 Investment toos 33 Cean share casses 33 Aviva and the FSCS 34 Using our business 36 transition programme Open about ownership 37 Who owns the Aviva Patform? 37 Who owns the cient s assets? 37 Taking security seriousy 38 Data and system security 38 Heping you meet your compiance requirements 38 Our business continuity pan 39 Why Aviva? 40 Our financia strength 40 Our distribution strength 40 Our service charter 41 What you need to know at a gance 42 What this means for your cients 42 Our compaints procedure 42 The Aviva Patform 3 Contents

4 Wecome to our guide to the Aviva Patform In this document, we run you through a the steps we ve taken to make sure the Aviva Patform compies with the reguation surrounding patforms. We aso take a quick ook at: Patform features Investment options Charges Our extensive range of support and toos You can access the Aviva Patform through our adviser website, Aviva for Advisers. This gives you a singe website through which you can manage a your cient s Aviva ife and pension products. In this guide, we outine the toos and features you can use with the Aviva Patform. You can access a these through Patform Services, a dedicated area on Aviva for Advisers, or as you manage your cient s account onine. This due diigence document ony covers Aviva Patform products (Investment Portfoio, ISA Portfoio and Pension Portfoio). Throughout this document we ca our charge the Aviva charge. This is the Aviva Patform s annua management charge. We offer a number of other ife and pension products: Protection Annuities Individua pensions Group pensions Equity reease If you woud ike more information on any of these, pease visit aviva-for-advisers.co.uk The Aviva Patform 4 Wecome to our guide to the Aviva Patform

5 Due diigence in the patform market Patforms are becoming increasingy popuar as advisers take advantage of the speed and ease with which they aow you to do business. With a patform, you can generay save time and money by seeing a your cients investments in one pace and moving money around in just a few cicks. Carrying out due diigence is an essentia part of choosing a patform, not east because the reguator ays responsibiity for this firmy at the door of the adviser. The Financia Conduct Authority has made it cear that you can t take a one-size-fits-a approach to patforms. If you re pacing a cient on a patform, that patform must be suitabe for that cient s needs. The reguator expects you to cover nine areas in your due diigence checks: 1 - the patform provider 2 - terms and conditions of using the patform 3 - charges 4 - the range of funds, tax wrappers and products 5 - the range of asset casses 6 - functionaity 7 - accessibiity 8 - additiona toos 9 - support services. We cover each of these in this guide. The Aviva Patform 5 Due diigence in the patform market

6 Introducing the Aviva Patform Many of the patforms out there are designed for the needs of high net worth cients. They offer speciaist features and investments that may work for investors with compex needs, but not those cients with simper needs. The Aviva Patform is different, it offers a range of portfoios to cater for different tax and income requirements. So, whether your cients financia needs become simper or more compicated over time, the Aviva Patform ets you adapt their investments to hep fit their needs. The Aviva Patform uses the atest technoogy, with an eye firmy on the future. It s fexibe and easy to deveop, so we can add new features and improve existing ones. Our atest AKG strength rating for the Aviva Patform is B+ We are committed to the patform market. That commitment and our experience shoud give you confidence in using our patform with your cients. We operate a service mode that puts cients at the heart of everything we do and we have a strong service reputation. Our strong financia position means we can continue deveoping our patform, adapting it to meet changes to both distribution and reguation whie fufiing cient and adviser needs. Everything in one pace The Aviva Patform is integrated with Aviva for Advisers, which means everything is accessibe in one pace, through one singe og-in. This means you be abe to manage your cients existing ife and pensions packaged products as we as having access to simpe, ow-cost products with onine admin functionaity. We beieve this wi hep you deiver your service proposition more quicky and efficienty. Key eements of our proposition Patform benefits Manage a your cients Aviva ife and pensions products in one pace (currenty excuding Friends Life products). Benefit from quick and easy onine functionaity. Hep reduce costs by saving time. With the Aviva Patform, you get: Access to an impressive investment range and a choice of product wrappers to suit your cients differing financia and tax panning needs. The abiity to manage a your cients ife and pensions packaged products and Aviva Patform products in one pace (currenty excuding Friends Life products) on Aviva for Advisers, with one singe og in. A the functionaity that you need to service cients affordaby. Incudes fund charting, portfoio panning and anaysis, buk switching and rebaancing and mode portfoio functionaity. High quaity cient reports with detaied investment anaysis and performance history. Robust underying technoogy that deivers a quick and simpe-to-use, intuitive onine experience for you. Back office integration heping you manage your cient data and processes more effectivey. The Aviva Patform 6 Introducing the Aviva Patform

7 Heping you do business The Aviva Patform wi hep you meet your reguatory obigations and the Treating Customers Fairy guideines. 12 ways the Aviva Patform works for you Aviva Patform Aviva is a brand your cients wi know and can trust. We are whoy committed to the patform market, having invested in the continuous improvement of our patform proposition, now powered by FNZ. We bring you a patform that is both robust and scaabe. With a patform financia strength rating as good as any on the market today, we aso offer your cients the reassurance of Aviva s underying financia strength. Charging structure our patform charges are amongst the most competitive in the market, aowing you to offer your cients an affordabe service. We aways make our charges cear for you and your cients to see. Adviser charging we faciitate a range of options, aowing you to agree the cost of advice with your cients and buid it into their portfoio through fixed costs or percentage. Switching investment funds switching is free of charge, giving your cients the fexibiity to ater their investments as their needs change. Free re-registration We won t charge your cients to move assets on or off the patform and being a member of TeX means our re-registration process meets the eading industry standards. Extensive investment choice the Aviva Patform offers over 3,000 funds, pus a arge seection of exchange-traded assets incuding equities, investment trusts and fixed income securities. Your cients can aso invest in structured products and, for Pension Portfoio, commercia property Fu range of investment wrappers The Aviva Patform offers Pension Portfoio, ISA Portfoio and Investment Portfoio to meet your cients investment and tax panning needs. Managed portfoio service We enabe you to buid and manage your own mode portfoios, as we as giving you access to modes run by third party investment managers. Straight through processing We minimise data input required by you and keep cient signature requirements to a minimum. A this makes processing business far quicker, aowing you to offer a more affordabe service. Cient access Your cients wi have access to MyAviva, our onine porta that aows them to manage their Aviva poicies in one secure, easy-to-use pace whenever they choose. They be abe to see current vauations and correspondence reating to their Aviva Patform portfoio(s). Cient documents You can see a correspondence reating to your cients portfoios onine. Support Our regionay-based weath deveopment managers provide face-to-face and teephone support to hep you use the patform for your everyday business. We aso have speciaist patform adoption consutants to hep you get on board. This is in addition to our dedicated patform service and support team. The Aviva Patform 7 Heping you do business

8 Efficient cient management We ve designed the Aviva Patform to make it quick and cost-effective for you to hande your day-to-day business. Using the Aviva Patform s easy-to-use cient management toos, you can significanty cut the amount of time you spend on administration. With the Aviva Patform, you get: a cash account for each portfoio to hande money going in and out simpe onine switching between investments without the need for a cient s signature a number of reporting and communication toos to hep you manage your cients the abiity to create and manage bespoke mode portfoios to suit different cients. Comprehensive panning toos You can compie reports for your cients, research funds, create iustrations and anayse investment performance. We aso provide a retirement panning too and portfoio anaysis too. Compete re-registration fexibiity We don t charge you to re-register your cients assets on or off the patform. Aviva is a member of the TISA Exchange (TeX). TeX is a Contract Cub with a set of agreed standards, contracts and associated service eve agreements (SLAs) for re-registrations that wi significanty reduce timescaes when compared with nonorigo transfers. We ve automated the process by using Origo transfer technoogy for our ISA, pension and investment business. The Aviva Patform offers a range of free toos to hep with your panning, both pre- and post-sae. The combination of TeX and Origo means we are abe to process re-registrations in the most efficient way possibe. Summary of the Aviva Patform Here s a quick overview of what you and your cients need to know about the Aviva Patform: What you need to know at a gance An extensive range of funds, aong with exchange-traded assets incuding equities, investment trusts, exchangetraded funds and fixed income securities. The Aviva Patform incudes a range of portfoios with different tax treatments to suit your cients needs. How your cients wi benefit Your cients have the investment fexibiity they need when making ong-term investment pans. Your cients can transfer assets off the patform in specie if they need to, which means they don t incur any unnecessary tax iabiities. You can transfer cash between portfoios in ine with HMRC rues. You can choose the most suitabe portfoios for your cients needs. Re-registration is free of charge. The Aviva Patform 8 Heping you do business

9 Our range of investments The Aviva Patform offers a wide seection of assets to choose from, incuding: over 3,000 funds from more than 110 fund managers, covering a fu range of industry sectors a arge seection of exchange-traded assets incuding equities, investment trusts and fixed income securities an expanding range of exchange-traded funds, gits and bonds a range of structured products direct investments in commercia property through Suffok Life (Pension Portfoio ony). With such a diverse range at your fingertips, you can choose investments that wi suit a wide variety of cients. Whatever their attitude to risk or investment goas, you be abe to buid a portfoio to hep match their needs. Fund criteria The open-architecture nature of the Aviva Patform aows us to offer a huge choice of investment options. We work cosey with our distribution team to make sure our fund range meets the needs of advisers and cients aike. Our fund range continues to evove and we can add funds to the patform providing they meet our criteria. To be eigibe for our patform, a fund must: be priced daiy and traded in stering (GBP) pay any distributions in stering (GBP) be authorised, reguated or recognised by the UK reguator hod assets we consider eigibe for our portfoios. Our fund addition process is primariy driven by adviser demand. We review each fund request and decide which to progress based on market demand. For simpe additions (for exampe, where we have an a funds agreement in pace with the fund manager), we wi normay be abe to add the fund in a matter of days. More compex additions (for exampe, where we have no existing contract in pace), may take significanty onger. Where possibe, we make a fund avaiabe within each of the portfoios. However, this is subject to restrictions due to the tax impications of certain funds within some portfoios. We don t risk rate funds hed on the Aviva Patform. However, out of the more than 3,000 funds avaiabe, you wi find a good seection which the fund managers run within certain voatiity constraints. The Aviva Patform 9 Our range of funds and assets

10 Muti-asset funds Diversification is important in investment. You can create an individua investment portfoio for each of your cients yoursef, but we do offer a range of muti-asset funds, which offer a pre-packaged route to diversification. Muti-asset funds hep you save both time and money. Researching individua funds, assets and investments can be costy and time-consuming. With muti-asset funds, the fund manager has aready carried out this work and created funds made up of diverse investments to suit different risk profies. We offer a range of muti-asset funds through the Aviva Patform, suitabe for a types of investor. Once you ve assessed your cient s appetite for risk, you can find a fund to match it. Fund casses Our wide range of fund casses incudes: You can find a fu ist of our funds in our Patform asset ist (LF50008A). Internationa fixed interest funds Property funds UK equity funds Goba speciaist funds Absoute return UK fixed interest funds Cash/ money market funds Far East funds European funds Emerging market equity funds North America funds Passive funds Managed funds Your cients can aso hod unwrapped Aviva unit trust/oeic funds. We don t offer: non-daiy priced deaing funds (such as hedge funds) mutipe currency share casses. Managed portfoio service Our managed portfoio service aows you to appoint discretionary investment managers to create and manage portfoios through the Aviva Patform. We can pay the discretionary investment manager directy from the cient s portfoio through the Aviva Patform. We offer third party investment manager functionaity to a advisers. Your cients invest in the managed portfoios of your choice under the contro of the discretionary investment manager you ve chosen. You must work with your cients to arrange for the discretionary investment manager to provide managed portfoio services to you and them. Your cient must agree to us taking the discretionary investment manager s charges from their portfoio. You wi need to check that your chosen investment manager is on the Aviva Patform. If you have a preferred discretionary investment manager who isn t on the patform, we d be happy to discuss whether we are wiing to give them access to the system. Just get in touch with your Aviva contact to ask about this. Before we aow an investment manager access to cient information on the Aviva Patform, you must both sign an agreement about the terms and conditions under which the investment manager wi operate. We re not invoved with this process. The Aviva Patform 10 Our range of funds and assets

11 We carry out due diigence for your nominated discretionary investment manager. Once we ve done this and both you and the manager have signed an agreement, we give them access to the Aviva Patform (The DIM must agree to compy with our terms and conditions and other requirements, if they do not they wi not be aowed access to the patform). From then on, the discretionary investment managers can create any number of portfoios. Buying and seing investments We have a best execution poicy for buying and seing investments and wi aways try to achieve the best possibe resut for your cient under the circumstances. Here s a summary of our best execution poicy: We monitor the effectiveness of our best execution poicy and arrangements to make sure we get the best resuts for your cients. Funds For investments in funds and structured products, we must pass the order to se or buy to the fund provider of your cient s chosen fund. The unit price is cacuated at the next vauation point after the trade has been submitted. For some funds, the next avaiabe vauation point may be more than one business day after the trade is submitted. Equity investments We wi send your order to se or buy to our nominated stockbroker, Winterfood Business Services, who we ve appointed to hep us get vaue for money for your cients. Trades are on a quote and dea basis, or via market order. Quote and dea aows you to trade on a rea time basis. You go onine to get a quote to buy or se, then you have 15 seconds to transact. You wi then get confirmation of this price. Our stockbroker has arrangements in pace to give us the best possibe resut under the circumstances at the time. We te you and your cients about any changes to the poicy or arrangements and outine how they affect your cients. A contract note is generated for each trade submitted on the patform. The contract note detais the purchase price, the number of units/shares traded and the date of the trade. The onine transaction history aso contains detais of any trades. Fund managers are contacted proactivey if there is any deay in setting the trade outside the service eve agreed with them. Our best execution poicy won t appy if you give us specific instructions on how to dea with an order if that instruction exceeds the conditions set out in the poicy. The Aviva Patform 11 Our range of funds and assets

12 Choose the right portfoio for your cient The Aviva Patform offers three portfoios in which you can pace your cients investments. The portfoios offer different tax treatments, so you can choose the ones that best suit your cients needs and maximise their tax advantages. Investment Portfoio A wide range of equities, coective investments and structured products from a key sectors. Over 3,000 funds from over 110 managers. Chance to invest in equities isted on eading indices, structured products and exchange-traded funds. ISA Portfoio A fexibe stocks and shares ISA with tax-efficient investment into equities, investment trusts, exchange-traded funds and fixed income securities. Over 3,000 funds from over 110 fund managers. Consoidate a existing ISAs in one convenient pace by transferring into the Aviva Patform. Pension Portfoio A sef-invested persona pension that can give your cients benefits during retirement. Offers over 3,000 funds, equities, investment trusts, exchange-traded funds and fixed income securities, pus commercia property through Suffok Life. Offers fexi-access drawdown with singe and phased drawdown options, giving your cients the abiity to take fu advantage of the pension fexibiity introduced in the 2014 budget. It aows cients to take taxefficient pension income or to take out any amount when they want. Capped drawdown is no onger avaiabe for new cients. However, if they were in capped drawdown before 6 Apri 2015, then they can stay in it as ong as they don t exceed GAD imits. If cients go over these imits, they automaticay move into fexi-access drawdown, triggering the money purchase annua aowance. Offers two investment options: Core and Choice. Your cient can enter either option and move between them as often as they want. Each option has its own investment choices and charges, so your cients ony pay for what they need when they need it. The Aviva Patform 12 Choose the right portfoio for your cient

13 Investment Portfoio With our Investment Portfoio, you can offer your cients a variety of investments through the ow-cost Aviva Patform. A wide range of investment options The Investment Portfoio has something for everyone, with options incuding: over 3,000 coective investment funds equities gits bonds unit trusts open-ended investment companies (OEICs) investment trusts fixed-income securities structured products, and exchange-traded funds. The vaue of the investments can go down as we as up, and your cient may not get back what they invested. Cear charging Investment Portfoio has a cear and transparent charging structure. We ceary discose the cost of administration, investments and advice. This meets reguatory requirements and means your cients understand what they re paying for. Investment Portfoio charges Portfoio vaue Aviva charge If your cient aso invests in the ISA and/or Pension Portfoio/s, we use 0 399, % their tota investments to cacuate the charge. 400,000 and over 0.15% There is a charge for equity trading. See Equity deaing charges Investment Portfoio imits Minimum initia contribution or transfer 1,000 Minimum initia contribution or transfer (corporate/trustee business ONLY, from 1 Apri 2018) Maximum initia contribution or transfer 50,000 No maximum Minimum reguar contributions 50 Maximum reguar contributions No maximum Minimum additiona ump sum 1,000 Maximum additiona ump sum No maximum Minimum reguar withdrawa 50 Minimum encashment 500 Minimum fund switch amount No minimum The Aviva Patform Minimum transfer between portfoios 1,000 Minimum account baance 250 Minimum baance per fund Investment Portfoio

14 Efficient cient management With Investment Portfoio s easy-to-use cient management toos, you can significanty cut the amount of time you spend on administration. Here are some of the ways in which you can do this: There s a cash account to hande money going in and out. Switching between investments is quick and easy to do onine and you don t need a cient s signature. You can create bespoke mode portfoios to suit different cients, and ater them as your cients needs change. The cash account The Investment Portfoio has its own cash account. Cash may be hed in one or more interest bearing cient money bank account(s) with externa account providers of our choice. This meets the reguator s cient money rues. The interest rate payabe is variabe. The interest rate and account providers can change at any time. Interest is paid monthy and rates can be zero or negative. You can find the cash account s current interest rate and detais of the account providers on Aviva For Advisers. Your cients don t have to hod a minimum amount in the portfoio cash account. However, we recommend they hod a sma proportion of their tota portfoio in cash to pay adviser and patform charges. If there isn t enough cash in the cash account, we automaticay disinvest the amount needed proportionatey from their fund investments. There wi be an additiona disinvestment made of 10 or 10% of the disinvestment amount, whichever is greater. We don t incude investments in exchange-traded assets and structured products in the disinvestment process. Comprehensive panning toos We offer a range of toos to hep with your panning, both pre and post-sae. You can compie reports on your cients, research funds, create iustrations and anayse investment performance. Compete re-registration fexibiity We don t charge you anything to re-register your cients assets on or off the patform. Pus, we re an active member of the TISA Exchange (TeX) and use Origo technoogy to automate our re-registration process. How your cients wi benefit With our frequenty updated range of investment options, your cients can meet their investment needs both today and in the future. Your cients can ceary see how much they re paying and what they re paying for. We won t charge your cients to transfer investments in or out of Investment Portfoio. Other providers may charge for transferring investments in or out of Investment Portfoio. We reserve the right to pass on any third party charge. If your cient has taken out an Offshore Bond with Canada Life, they can invest in our Investment Portfoio from within their Offshore Bond. Your cient wi then benefit from our range of investment options and your onine management of their assets. The Aviva Patform 14 Investment Portfoio

15 ISA Portfoio ISA Portfoio is a ow-cost, stocks and shares ISA offering your cients a wide range of investment options through the Aviva Patform. It is a fexibe ISA, aowing your cient to withdraw money and repace it within the same tax year without affecting their ISA aowance. Your cients can transfer ISAs from current and previous years, consoidating them a in one easy-to-manage portfoio. A wide range of investment options The ISA Portfoio has something for everyone, with options incuding: over 3,000 coective investment funds equities gits bonds unit trusts open-ended investment companies (OEICs) fixed-income securities investment trusts, and exchange-traded funds. The vaue of the investments can go down as we as up, and your cient may not get back what they invested. Cear charging ISA Portfoio has a cear and transparent charging structure. We ceary discose the cost of administration, investments and advice. This meets reguatory requirements and your cients understand what they re paying for. ISA Portfoio charges Portfoio vaue Aviva charge If your cient aso invests in the Investment and/or Pension 0 399, % Portfoio(s), we use their tota investments to cacuate the charge. 400,000 and over 0.15% There is a charge for equity trading. See Equity deaing charges ISA Portfoio imits Minimum initia contribution or transfer 1,000 Maximum initia contribution Subject to HMRC imits Maximum transfer No maximum Minimum reguar contributions 50 a month Maximum reguar contributions Subject to HMRC imits Minimum additiona ump sum 1,000 Maximum additiona ump sum Subject to HMRC imits Minimum reguar withdrawa 50 a month Minimum encashment 500 Minimum fund switch amount No minimum Minimum transfer between portfoios 1,000 Minimum account baance 250 Minimum baance per fund 50 The Aviva Patform 15 ISA Portfoio

16 Efficient cient management With ISA Portfoio s easy-to-use cient management toos, you can significanty cut the amount of time you spend on administration. Here are some of the ways in which you can do this: There s a cash account to hande money going in and out. Switching between investments is easy to do onine and you don t need a cient s signature. You can taior-make mode portfoios to suit different cients, and ater them as your cients needs change. The cash account The ISA Portfoio has its own cash account, where we hod cash before reinvesting it. Cash may be hed in one or more interest bearing cient money trust account(s) with externa account providers of our choice. This meets the reguator s cient money rues. The interest rate payabe is variabe. The interest rate and account providers can change at any time. Interest is paid monthy and rates can be zero or negative. You can find the cash account s current interest rate and detais of the account providers on Aviva For Advisers. Your cients don t have to hod a minimum amount in the portfoio cash account. However, we recommend they hod a sma proportion of their tota portfoio in cash to pay adviser and patform charges. If there isn t enough cash in the cash account, we automaticay disinvest the amount needed from their fund investments in proportion across their investments. There wi be an additiona disinvestment made of 10 or 10% of the disinvestment amount, whichever is greater. We don t incude investments in exchange-traded assets or structured products in the disinvestment process. Comprehensive panning toos We offer a range of toos to hep with your panning, both pre and post-sae. You can compie reports on your cients, research funds, create iustrations and anayse investment performance. Compete re-registration fexibiity We don t charge you anything to re-register your cients assets in or out of ISA Portfoio. Pus, we re an active member of the TISA Exchange (TeX) and use Origo technoogy to automate our re-registration process. How your cients wi benefit With our frequenty updated range of investment options, your cients can meet their investment needs both today and in the future. Your cients can ceary see how much they re paying and what they re paying for. We won t charge your cients to transfer investments in or out of ISA Portfoio. Other providers may charge for transferring investments in or out of ISA Portfoio. We reserve the right to pass on any third party charge. The Aviva Patform 16 ISA Portfoio

17 Pension Portfoio Pension Portfoio offers a ow-cost, fexibe pension through the Aviva Patform that can meet your cients evoving needs as their circumstances change. Pension Portfoio investment options Pension Portfoio offers two investment options: Core Over 100 insured funds for cients with straightforward needs. Choice Core option insured funds pus over 3,000 funds, equities, investment trusts, exchange-traded funds, fixed-income securities and commercia property. The investments chosen wi determine whether your cient is in the Core or Choice option. Each option has its own investment choices and charges, so your cient wi ony pay for their own investments. You can move your cients between the two options whenever you need to, whether their needs become more compex or simper over time. This means that there s no need for you to transfer your cients from pension to pension to get a different investment choice. A wide range of investment options There are currenty over 3,000 funds on the Aviva Patform and the ist is increasing with demand. The vaue of the investments can go down as we as up, and your cient may not get back what they paid in. The Aviva Patform 17 Pension Portfoio

18 Cear charging Pension Portfoio has a cear and transparent charging structure. We ceary discose the cost of administration, investments and advice. This meets reguatory requirements and your cients understand what they re paying. Pension Portfoio charges - Core Portfoio vaue Aviva charge Up to 29, % 30, , % 250, , % 400,000 and over 0.10% Insured fund charge (depends on fund seection) 0.1% 1.75% Pension Portfoio charges - Choice Portfoio vaue Up to 29, % 30, , % 250, , % Aviva charge We take these charges on a tranche basis, simiar to the way in which income tax works. For exampe, if your cient invests 150,000 in the Pension Portfoio Choice option, they wi pay 0.40% on the first 29,999 and 0.35% on the remaining 120,001. The charges may vary. Pease read the Pension Portfoio terms and conditions to find out more about this. If your cient aso invests in the ISA and/or Investment Portfoio/s, we use their tota investments to cacuate the charge. 400,000 and over 0.15% Investment fund charge (depends on fund seection) 0.065% % Equity trading see Equity deaing charges Commercia property Initia set-up fee 375 Annua administration charge 0.12% of the net vaue taken monthy The Aviva Patform 18 Pension Portfoio

19 Pension Portfoio imits Minimum age 18 Minimum reguar contributions Maximum reguar contributions Minimum initia contribution or transfer Maximum initia contribution or transfer 100 a month (incuding tax reief) No maximum (tax reief for contributions is ony avaiabe up to specific HMRC imits) 5,000 (incuding tax reief) ( 1,000 if making reguar payments) No maximum (tax reief for contributions is ony avaiabe up to specific HMRC imits) Minimum additiona ump sum 1,000 Maximum additiona ump sum Minimum fund switch amount No maximum (tax reief for contributions is ony avaiabe up to specific HMRC imits) No minimum Minimum account baance 250 Minimum baance per fund 50 Efficient cient management With Pension Portfoio s easy-to-use cient management toos, you can significanty cut the amount of time you spend on administration. Here are some of the ways in which you can do this: There s a cash account to hande money going in and out. Switching between investments is easy to do onine and you don t need a cient s signature. You can create bespoke mode portfoios to suit different cients, and ater them as your cients needs change. The cash account The Pension Portfoio has its own cash account. Cash may be hed in one or more interest bearing cient money trust account(s) with externa account providers of our choice. This meets the reguator s cient money rues. The interest rate payabe is variabe. The interest rate and account providers can change at any time. Interest is paid monthy and rates can be zero or negative. You can find the cash account s current interest rate and detais of the account providers on Aviva For Advisers. Your cients don t have to hod a minimum amount in the portfoio cash account. However, we recommend they hod a sma proportion of their tota portfoio in cash to pay adviser and patform charges. If there isn t enough cash in the cash account, we automaticay disinvest the amount needed from their fund investments proportionatey across their investments. There wi be an additiona amount of 10 or 10% of the disinvestment amount, whichever is greater. We don t incude investments in exchange-traded assets, structured products or commercia property in the disinvestment process. Comprehensive panning toos We offer a range of toos to hep with your panning, both pre and post-sae. You can compie reports on your cients, research funds, create iustrations and anayse investment performance. We aso provide a retirement panning too and portfoio anaysis too. The Aviva Patform 19 Pension Portfoio

20 Compete re-registration fexibiity We don t charge you anything to re-register your cients assets on or off the patform. Pus, we re supporting the TISA initiative to extend their TeX initiative to incude the transfer of pensions. Pease note that pension transfers can ony be made to another UK pension scheme. Aviva Pension Portfoio Trust The Aviva Pension Portfoio Trust is an integrated pension trust which paces a Pension Portfoio account on the Aviva Patform into the trust. If ump sum death benefits become payabe, we pay them to the trustees of the trust. It may suit cients who want trustees they ve appointed themseves to decide who wi receive the death benefits (as opposed to the scheme administrator). The trustees your cients appoint wi be abe to contro the trust fund for successive beneficiaries, deciding who benefits and when. How your cients wi benefit Pension Portfoio is the ony pension your cients wi ever need as it can fex to meet their changing pension needs. With two investment options, your cients wi ony pay for the features and options they use. With our frequenty updated range of investment options, your cients can hep meet their investment needs both today and in the future. Your cients can ceary see how much they re paying and what they re paying for. Your cients won t pay any charges to transfer investments in or out of Pension Portfoio. Other providers may charge for transferring investments in or out of Pension Portfoio. We reserve the right to pass on any third party charge. The Aviva Patform 20 Pension Portfoio

21 Income drawdown Income drawdown is avaiabe to your cients through Pension Portfoio. It offers fexi-access drawdown. Within this, there are severa options, depending on your cients needs: Phased drawdown Drawdown categories Option How it works Who might use it Fexi-access Sef-Seect Income Income provided from both PCLS (tax-free) and remaining taxabe fund (the amount of taxabe income is driven by the tax-free PCLS income chosen) Cients who: have specific income needs, which optimise tax bands and aowances need taxabe income that doesn t exceed a specified crystaisation amount Capped* Non Taxabe Income Tax-free income provided from PCLS ony Cients who ony want a tax-free Income Fexi-access Target Income Target income (net or gross) is achieved by most efficient combination of PCLS and taxabe income. Designed to minimise crystaisations, protecting growth of PCLS for future payments. Cients who: need a set eve of income each month want to maximise growth of their fund and avaiabe PCLS for tax-free ump sum or income Capped* Fexi-access Taxabe Income Target taxabe income, from taxabe fund, suppemented by tax-free income from PCLS crystaisation when needed, to achieve target. Designed to minimise crystaisations, protecting growth of PCLS for future payments. Cients who: need a set eve of taxabe income need a eve of income to meet a tax band threshod Capped* * Capped drawdown avaiabe where your cient has an existing capped arrangement or transfers in a capped pot. Singe drawdown Cients take 25% of their pension fund up front as tax-free cash. They invest the remaining 75% and use it to pay their chosen taxabe income amount. Your cients can aso choose how frequenty they receive their pension income, for exampe, monthy, quartery, haf-yeary or yeary. Lump sums Your cients can take part or a of their pension fund as cash on or after their 55th birthday. However, it s important they remember their pension fund has to ast for the whoe of their retirement. Your advice wi be crucia in making sure they manage their pension fund effectivey. The Aviva Patform 21 Income drawdown

22 Passing on drawdown pension death benefits On death, your cients wi be abe to pass on their funds to named beneficiaries to provide an income or ump sum. In turn, those beneficiaries can pass the funds on to their named beneficiaries, and so on. For a cient who dies aged 75 or over, their beneficiary wi pay tax on any benefits at their margina rate. For a cient who dies under the age of 75, we pay the fu vaue of their pension fund to their nominated beneficiaries as a ump sum or as income. The beneficiaries won t have to pay any tax on the benefits as ong as they take them within two years of your cient s death, and the benefits are within your cient s remaining ifetime aowance. You can aso use Pension Portfoio to administer any funds your cient may inherit themseves. Income drawdown features and imits Minimum age 55 Maximum income amount cients can take in a singe payment One-off withdrawa Payment frequency N/A Yes, through the one-off withdrawa route. Ony avaiabe on a gross basis. Monthy, quartery, haf-yeary or yeary The Aviva Patform 22 Income drawdown

23 Cear charging through the Aviva Patform The Aviva Patform has a cear, transparent charging structure, with the cost of portfoios, investments and advice a ceary discosed. This meets reguatory requirements and means your cients understand what they re paying for. Putting aside money for charges We recommend cients hod a sma proportion of their tota portfoio in cash to pay adviser and patform charges. Aviva charge There is no initia patform charge for the Aviva Patform, but we do take an annua management charge (the Aviva charge). The charges vary depending on the portfoio your cients invest in and the size of their fund. Fund size Pension Portfoio From To Core option Choice option ISA Portfoio Investment Portfoio 0 29, % 0.40% 0.25% 0.25% 30, , % 0.35% 0.25% 0.25% 250, , % 0.25% 0.25% 0.25% 400, % 0.15% 0.15% 0.15% We make these charges on a tranche basis, simiar to the way in which income tax works. So, for exampe, if your cient invests 150,000 in Pension Portfoio s Choice option, they wi pay 0.40% on the first 29,999 and 0.35% on the remaining 120,001. We cacuate the Aviva charge daiy and your cients wi pay it every month on pan annniversary date. The funds annua management charges range from 0.065% to 3.62%, but may vary over time. Pease read the patform asset ist (LF50008A) to find out more. The Aviva Patform 23 Cear charging through the Aviva Patform

24 You can find more charging information in the sections about each of our portfoios, but here are some exampes: 1 Exampe one: Your cient invests 150,000 in Pension Portfoio s Choice option. They wi pay charges of 0.40% on the first 29,999 and 0.35% on the remaining 120, Exampe four: Your cient has a fund of 950,000 and wants to spit the investment over three portfoios. They invest 50,000 in the ISA Portfoio, 250,000 in the Investment Portfoio and 650,000 in Pension Portfoio s Choice option. Fund size 150,000 Tota Aviva charge First, we use the compete baance of money on the Aviva Patform to work out the Pension Portfoio charge: First 29, % Remaining 120, % 0.36% Fund size 950,000 First 29, % = 120 Aviva charge 2 Exampe two: Your cient invests 725,000 in Pension Portfoio s Choice option. They wi pay 0.40% on the first 29,999, 0.35% on the next 219,999, 0.25% on the next 149,999 and 0.15% on the remaining 325,003. Next 219,999 Next 149,999 Remaining 325, % = % = % = % Then, we work out the charge for the ISA Portfoio and the Investment Portfoio, which are aso based on the tota baance on the Aviva Patform: Fund size 725,000 First 29, % Next 219, % Tota Aviva charge ISA Portfoio First 399,999 Remaining 550, % = % = 770 Aviva charge Next 149, % 0.24% Investment Portfoio 0.192% Remaining 325, % First 399,999 Remaining 550, % = % = Exampe three: Your cient invests 500,000 in the ISA Portfoio or the Investment Portfoio. They wi pay 0.25% on the first 399,999 and 0.15% on the remaining 100,001. Fund size 500,000 First 399, % Remaining 100, % Tota Aviva charge 0.24% Then we share out the reevant charges to the Pension, ISA and Investment Portfoios: ISA Portfoio Aviva charge Net effect 49,999 Investment Portfoio 249,999 Pension Portfoio 649, % = % = % = 1, Tota charge of 2,006 on 950,000 = 0.211% tota Aviva charge The Aviva Patform 24 Cear charging through the Aviva Patform

25 Adviser charges The Aviva Patform gives you and your cient a choice of charging options. You agree both the charge and how they pay it. In each individua case, you agree your adviser charge for each portfoio with your cient. You don t have to use the same charging option for each portfoio. Charging options Initia advice charge You agree this charge with your cient. We take it from the payment(s) before we buy your cient s assets Spread initia advice charge This is a way in which your cient can spread the initia advice charge you agree with them over a set number of payments. The spread initia advice charge wi be paid, monthy, quartery, haf yeary or annuay. This charging option is ony avaiabe as a monetary amount and not as a percentage - and ony where your cient is making reguar payments. Ongoing advice charge You agree a charge with your cients for the ongoing financia management of their portfoios. The vaue of any persona investment portfoio is not incuded in the cacuation of the ongoing advice charge. We take any ongoing advice charge from the cient s portfoio. We pay this to you monthy. If the agreed amount is a percentage of the portfoio, we base it on the daiy vaue of the portfoio when we cacuate the charge. Fund manager charges Charges for drawdown crystaisation You can charge for managing drawdown crystaisations, taking a charge from the pan every time you carry out this function for your cient. The same rate appies to crystaised and uncrystaised funds. You can enter a drawdown initia charge when you set up the drawdown. If your cient doesn t have enough money in their cash account to cover payments or charges, we automaticay disinvest the required amount in ine with the fund investment proportions. We aways use any cash in the cash account to pay charges before taking money from the cient s investment. There wi be an additiona disinvestment made of 10 or 10% of the disinvestment amount, whichever is greater. Funds often make an initia charge to invest in the fund and aso have annua management charges. The charges are taken through changes in the unit price. We aways go for the best possibe dea for cients, which is why there is no initia charge on over 95% of the funds we offer. Fund managers wi aso take charges that wi depend on the investments chosen. These charges wi be expressed as the ongoing charge figure (OCF) or tota expense ratio (TER). These cover the charge made by the fund manager for managing the investment as we as expenses incurred by the fund. Pease note the OCF and TER are variabe and may change over time. The fund manager takes this charge directy from the unit price of the fund. The Aviva Patform 25 Cear charging through the Aviva Patform

26 Equity deaing charges We offer equities, exchange-traded funds, fixed income securities and investment trusts on the Aviva Patform through our chosen stockbroker, Winterfood Business Services. Your cient is ikey to pay equity deaing charges on these types of investments. The charges wi be taken from your cient s cash account. The charges vary depending on the size of the dea, as shown in this tabe: Fat deaing charge For deas over 10,000, the Pane on Takeovers and Mergers wi make an additiona 1 charge that your cient wi have to pay. Made on a trades of this size, this charge is often caed the PTM evy. When appicabe, your cient woud aso have to pay any stamp duty or additiona London Stock Exchange charges. Per individua trade 7.50 Per trade within a mode portfoio 5.00 Transferring shares in or out costs 10 for each type or cass of share. Property deaing charges (Pension Portfoio ony) Your cients can invest in commercia property through Pension Portfoio (Choice option ony) for an additiona charge. For up-to-date information about this charge, pease visit Structured product charges The company providing the structured product wi take charges from the amount your cient invests. However, the charge wi not affect the return described in the promotiona materia for the structured product. The charges wi vary from product to product. We appy the Aviva charge to the vaue of the structured product investments as we do to the vaue of any investment type hed on the Aviva Patform. The Aviva Patform 26 Cear charging through the Aviva Patform

27 What we don t charge for We beieve that charges shoudn t be a barrier to customer choice. To that end, with the Aviva Patform, there is: no initia patform charge no charge for switching funds no charge for re-registering assets, even if moving assets off the patform. You can t re-register some asset casses (incuding structured products and Aviva insured funds). Pus, some fund managers don t aow re-registration. In these cases, your cient may incur some costs through the sae and/or purchase of these assets. Summary of our approach to charging Here s a quick overview of what you and your cients need to know about the charges on the Aviva Patform: What you need to know at a gance Fexibe adviser charging options et you agree advice charges that suit you and your cient. Transparent charging structure separates the cost of advice, patform services and investment management. We don t charge for switching, rebaancing or re-registration. How your cients wi benefit They can ceary see what they re paying for. We won t charge them for switching or moving investments, giving them freedom to change their investment whenever they need to. Other providers may charge for transferring investments in or out. The Aviva Patform 27 Cear charging through the Aviva Patform

28 Supporting you every day Technoogy in the patform market has improved enormousy in recent years. Just as internet banking revoutionised the way we bank, so patforms are doing the same for the ong-term investments industry. We work in partnership with FNZ, who provide investment transaction and custody services through a configured and enhanced version of their core patform to Aviva. This aows us to deiver a bespoke service and patform proposition to meet our customer needs. Working with third parties We ve fuy integrated the Aviva Patform with Inteifo, Iress and Distribution Technoogy s Dynamic Panner, supporting straight through new business. In addition integrations supporting automated vauations, transaction history and adviser charge reconciiation are commonpace with these and many other recognised back office names in the UK. This type of integration gives you the abiity to manage your cient data and processes more effectivey. Re-registration With the Aviva Patform, you can re-register assets both on and off the patform. We aow you to re-register most types of assets with the exception of structured products and Aviva insured funds. Some fund managers don t aow re-registrations, so your cients may have to pay charges for the sae and/or purchase of certain assets. Mode portfoios With the Aviva Patform, you can set up and maintain your own mode portfoios onine, incuding rebaancing and switching faciities. Fund specific withdrawas You can create your own withdrawa preferences for your cients. This aows you to choose and manage how we disinvest specific funds to pay for withdrawas. As an added feature, our patform warns you if a cient s hoding in a particuar fund is too ow to pay for a withdrawa. Toos and functionaity Aongside the investment options avaiabe through the Aviva Patform, we offer an expanding range of patform toos to hep you meet your cients investment needs. The Aviva Patform 28 Supporting you every day