Ascentric Wrap Platform User Manual

Ascentric Wrap Platform User Manual A User Guide for setting up and managing client wrap accounts (FOR ADVISER USE ONLY). Copyright Notice This document is the property of Investment Funds Direct Limited and cannot be copied, modified, or stored on a computer system without the company s consent. Ascentric is a trading name of Investment Funds Direct Limited (IFDL), registered in England and Wales number 1610781 and authorised and regulated by the Financial Conduct Authority No.114432. Client Services: 0345 600 5360. Telephone calls may be recorded for training and security purposes. Head office: Trimbridge House, Trim Street, Bath BA1 1HB. IFDL is part of the Royal London Group, registered in England and Wales number 00099064. Head office: 55 Gracechurch Street, London EC3V 0RL. 1

Contents 1. Getting Started Logging in 2. Setting up a new client Setting up a client wrap account Setting up Product Partner tax Wrappers Creating client specific Charges Summary Document Creating client specific illustration Important Documentation 3. Transferring client assets on to the platform Requesting transfer of assets to wrap account Tracking the progress of transfers 4. Arranging payment of an Adviser charge New Payment Instruction 5. Client Portfolios Client Portfolio screen Viewing cash accounts & transaction history Producing a valuation of your client s portfolio Producing historic valuations Viewing contract notes Viewing consolidated tax vouchers (CTVs) Viewing a summary of valuations 6. Buying, selling and switching individual assets Buying Selling/Switching 3 3 4 4 5 5 6 6 7 7 7 8 8 10 10 11 12 12 13 13 13 14 14 14 7. Creating and managing model portfolios 15 8. Research Tools and Fund Information Fund Research Centre Fund List Fund Documentation Comparing Funds Portfolio Builder 16 16 16 16 17 17 9. Adviser management information 19 10. Adding Off Platform client assets 20 11. Other information Interest Rates on cash balances Discretionary Fund Management services Technical and support services 21 21 21 21 12. Troubleshooting and useful tips 22 2

1. Getting Started Login The first time you wish to login you can either click the activation link in your email, or go to the web address provided where you will need to select Activate Online Account at the top left-hand side of the screen and follow the on-screen instructions. This will allow you to create a password and Personal Identification Number (PIN) that you will use to access your account in conjunction with your User ID and unique access code that you have been sent in your account set-up email and letter. If you have any difficulties, please contact Ascentric Client Services and they will be happy to assist you. Once logged in, to find a menu item enter it in the search field or click on the corresponding icon. 3

2. Setting up a new client Setting up a client wrap account Processes, forms and guidance for adding new clients on to the Ascentric Wrap can be found by searching for Application Forms. Depending on which Wrappers are being established, you can select one of the Hot Links boxes at the bottom of the page to access the relevant forms, brochures and Wrapper specific documentation. The table below outlines the application forms required to set up a client by tax Wrapper, as well as the relevant transfer forms. Tax Wrapper General Investment Account and/or ISA or other third party Wrapper Product partner tax Wrapper e.g. AXA Offshore Bond Ascentric Pension Account Non-individual General Investment Account Forms Required Ascentric Client Application Form: establishes a client on the wrap platform. It covers single applicants and/ or husband and wife applications where each partner requires either a separate account or a joint account. Relevant product partner application forms please refer to Setting up Product Partner tax Wrappers on the next page. Ascentric Pension Account Client Application Form: establishes a client on the wrap platform and sets up the Ascentric Pension Account. Plus (as appropriate): Ascentric SIPP Employer Contribution Form. Completed by employers making contributions. Ascentric SIPP Benefit Payment Form. Enables the client to start taking benefits from their SIPP or where the client is transferring-in crystallised arrangements. Ascentric Trust/Charity/Corporate Application Form. Required when a legal entity, such as a trust, is setting up an Ascentric wrap account. Important Notes:» The initial client investment needs to be at least 1,000. There is no minimum for subsequent investments.» A Family Group facility enables the Ascentric platform charges to be based upon the consolidated assets of the group, with the charges being applied proportionately to each member. To sign up for this facility, the related person s application must meet one of the following: a) Marriage; b) Civil Partnership; or c) Immediate family.» There is a minimum cash requirement of 2% of the portfolio subject to a minimum of 100 per Wrapper and a combined maximum of 2,000. This is required to cover any charges and ongoing Adviser charges.» Clients within family groups must also maintain 2% of assets in the form of cash although the 100 per Wrapper minimum and 2,000 maximum will be applied to the family group as a whole.» For all pension transfers, the ceding pension/sipp provider will provide a Transfer Discharge Form(s) for completion. 4

Setting up Product Partner tax Wrappers Ascentric provides access to a large number of product partners, allowing Advisers to manage their clients assets within these products through the platform. The lists can be accessed by searching for and selecting Product Partners in the Third Party Partners section. By clicking on the provider name, you can access more details of their products and services including relevant application forms. If you are unsure what forms you require please contact your Ascentric Business Development Manager. Creating client specific Charges Summary Document Documentation to support an illustration can be accessed by searching for Wrap Charges Calculator or alternatively through the Fund Research Centre (see Section 8). 5

By entering the details and charges of the Adviser recommendations, this tool provides a single view of the costs and charges associated with the Ascentric Wrap platform, the fund manager and the Adviser. Once you have entered the required details, click to view and print the document. Creating client specific illustration You can produce a printable client specific illustration for the SIPP, ISA, GIA and Ascentric Offshore Bond by searching for Illustration Tool. Selecting this will launch the tool in a pop-up window (please ensure any pop-up blocking software is disabled to allow this see section 12). For assistance in using the tool, please contact your Ascentric Business Development Manager. Important Documentation Key documentation relating to the Ascentric Wrap platform such as Terms & Conditions, Key Features and the Charges Schedule can be accessed via Reference Documents. Alternatively these can be found at www.ascentric.co.uk > Resources > Literature & Policies. 6

Section 3: Transferring client assets on to the platform Requesting the transfer of assets to a wrap account Processes, forms and guidance for transferring existing client assets onto the Ascentric Wrap can be found by searching for Transfers. Depending on what is being transferred, you can select the relevant light blue box to get one of the following four forms and receive specific guidance:» Unwrapped assets transfer form (third party transfer form) this is for transferring assets held directly with a third party either as cash or in-specie e.g. OEICs/unit trusts held on a fund supermarket.» ISA assets transfer form this is for transferring third party ISA accounts either as cash or in-specie.» Stock transfer form this is for transferring any OEIC/Unit Trusts/ Collectives that are held directly by the client.» Crest transfer form this is for transferring any shares that are held directly by the client. Please note, providing us with a recent valuation, will help to speed up the transfer process and enable us to record the original investment amount (book cost) of transferred assets. If we are not given this information we will set the book cost at 0.01 until such time as the original amount is provided. Tracking the progress of transfers In-specie transfer registration can be both time consuming and frustrating for all parties concerned. Two reports which will provide you with progress updates on asset transfers are available by searching for the report name. The information contained in the reports can be exported in a variety of formats if required.» Asset Transfer Progress Report This report shows the progress of all in-specie transfers being conducted by Ascentric on behalf of clients. Details are available from the 21st working day onwards. The report displays notes of all contact made between Ascentric and the ceding custodian.» New Assets Report This report summarises all new assets, such as, in-specie transfers, encashed transfers, monies transferred via BACS from either the client or third party providers, and any client cheques received, and/or settled in client accounts between specific dates. This is a real-time report displaying up-to-the-minute details of all transferred assets received by Ascentric. It also provides details of all transferred assets settled over the previous 3 month period, allowing you to track back if required. 7

Section 4: Arranging payment of Adviser charges New Payment Instruction An Adviser charge can be submitted online by first searching for and selecting the relevant client and then clicking the Payment Instruction icon. At the New Payment Instruction screen, select Payment to Adviser from the drop-down menu. You will then be presented with the New Payment Instruction Form. All the fields in the Client details and Payment details sections will need to be completed using the drop-down menus:» Event Wrapper: the Wrapper within which the event you wish to charge for took place.» Chargeable Wrapper: where allowable the charge can be taken from another Wrapper e.g. advice on an ISA transfer could have the charge made against the GIA.» Charge Event Type: the type of event that is being charged for. 8

The screen will now display all events that can be charged for and the maximum the client has authorised (you can take less if required by typing in the Charge Amount box). At the bottom of the screen, the Available Funds will be displayed and you will not be able to submit a payment instruction for greater than this amount. Once completed, click Send Payment Instruction. The process will complete and you will then be given a payment reference number. 9

Section 5: Client Portfolios Client Portfolio screen Searching for a client and selecting the Client Portfolio option within the Client Details Card will return you to this summary screen for the last selected client portfolio. For ease of use, you can arrange and refine the information on screen using the following three drop-down menus at the top of the page:» By Wrapper This allows you to focus on a specific Wrapper if required e.g. Ascentric Pension Account (SIPP), General Investment Account (GIA) or Individual Savings Account (ISA).» Sort By This arranges your assets by sector or Wrapper.» Change View You can select whether or not you want to include holdings which have been sold i.e. in which the client has no active holding. 10

Viewing cash accounts and transaction history A full transaction history is available within each Wrapper. To view this, click on Client Portfolio on the Account Details Card. You can select the Wrapper that you require a transaction history for by using the Wrapper drop-down menu. For an overall transaction history within the selected Wrapper, click the Net Cash value towards the bottom of the screen. You will be presented with up to four accounts:» Deposit Account: is the main account, which holds any un-invested cash. This account attracts interest and contains records of every transaction undertaken through the platform including trades, dividends, interest payments, withdrawals, fund manager rebates, charges and ongoing Adviser charges.» Trading Account: is only used to undertake the settlement of trades.» Income Account: is used for the collection of equity dividends and income payments.» Reserve Account: this account specifically relates to Model Portfolio functionality. It provides the facility to ring fence cash as required, allowing for charges to be collected without unbalancing the model. The account has to be requested prior to adding/ rebalancing a client to a model. If you require the transaction history of a particular fund within a Wrapper, simply click on the underlined quantity associated with that fund this is particularly useful where your client has made multiple purchases of the same fund. For example, if you have recommended monthly contributions you will be able to see the money enter their trading account and then the purchase of the assets for that amount each month. 11

Producing a valuation of your clients portfolios Search for and select the account you wish to produce a valuation for. Select Client Valuations in the Account Details Card. This will produce the valuation screen as shown below: You can use the highlighted buttons in the top right-hand corner to produce the valuation in your required format. Producing historic valuations A historic valuation can also be produced by searching for Historic Valuations. You then need to enter the valuation date you require and select Standard, Mid-market or quarter-up (QUP) from the Pricing Method drop down list, then click View Report on the right-hand side of the screen. Please note, QUP is only available for valuations dated before 12th March 2016. 12

Viewing contract notes You or your client s tax Adviser may need the contract notes associated with the sale and purchase of assets within their portfolio. To view and print these, you need to search for Contract Notes. In this screen you can search all the contract notes for trades made between a date range that you enter: To view or print the contract note, click on the icon. Viewing Consolidated Tax Vouchers (CTVs) Consolidated Tax Vouchers can be viewed and printed by searching for Tax Vouchers. You can use the drop-down menu to highlight a specific client or all of your clients, against a specific date range. To view the CTV, click on the icon. Viewing a summary of valuations Search for Printed Valuations. Use the Client drop-down menu to select a particular client or select all clients and enter a date range. To view or print a particular valuation, click on the icon. 13

Section 6: Buying, selling and switching client assets Search for the account you require and open the Account Details Card. Two of the icons will be Buy and Sell/Switch. Once you have accessed the dealing environment for your client you can use the icon and select an alternative Wrapper and the security that is being traded. Once all the fields are completed, click Next to proceed to the next step of the process. Buying Having selected the Wrapper and security you wish to trade, click Next. Enter the amount (in GBP) to be invested and click Next. If applicable, the trade can be marked as execution-only. A summary of the order will then be displayed. Click Confirm to place the trade. An order reference number is displayed and any other relevant information. Selling/Switching If you intend to sell or switch assets within your client s portfolio, the next step will be to enter the details of the trade. Simply click on the Sell icon that appears directly below that holding, this will pre-populate the total number of units held within that investment. You can change this if you wish to sell a specific amount of units. You can also record if it is an execution-only trade on behalf of the client. Once you have completed the details, click Next. 14

To verify the order, click Confirm or use Back to return to previous screens to amend the details. On confirming the sale, the option to reinvest sale proceeds is given. By selecting No an order reference number is displayed together with any other relevant information. On completion of the sale the proceeds will be allocated to the Deposit Account. If you select Yes to reinvesting the proceeds, the next step will be to choose the stock that needs to be purchased. Search and select the relevant fund manager and funds by using the icon or alternatively type in the name or ISIN/SEDOL code. Having located the required stock, select the proportions and Adviser charge levels required. Click Place Order to confirm the purchase. An order reference number is displayed together with any other relevant information. Section 7: Creating and managing Model Portfolios All aspects of using the Model Portfolio facility are detailed in a separate step-by-step guide located by searching for Model Portfolio. 15

Section 8: Research Tools and Fund Information The Ascentric Wrap platform provides you with a number of embedded research and information services through our Fund Research Centre. Fund Research Centre By searching for Fund Research Centre you can access a wealth of information and tools: Fund List» By searching for Fund List you can view details of each fund including minimum investment amount, charges, discounts and negotiated fund rebates, if applicable. Search by typing in the fund name, ISIN or SEDOL code or use the drop-down menu to identify all funds for a particular fund manager. Click to view the FundsLibrary Factsheet, Report & Accounts and KIID for each fund. Fund Documentation» On the Fund Central tab you can access client and Adviser factsheets, copies of Report & Accounts, simplified prospectuses and KIID and performance data for each fund. The filters at the top of the screen will generate a list of funds from which you can select the documents you wish to view by clicking the relevant icons. 16

Comparing Funds» By selecting the Fund Comparison tab you can compare up to six funds against each using a wide range of criteria including performance, charges, yields, risk factors, holdings and benchmarks. Use the Click here to select funds hyperlink to identify the funds you wish to compare. If required, you can compare specific criteria by using the Select Data to Display button and selecting accordingly. Portfolio Builder Portfolio X-ray» The Portfolio Builder tab allows you to generate a portfolio X-ray. To start, use the Add Funds button at the top of the screen to build the portfolio. Once selected and the weightings allocated, click the X-ray button to generate and display the information in your browser or X-ray PDF to produce a printable document. You can use the Save and Save As buttons to avoid having to rebuild these portfolios in the future. 17

Portfolio X-ray 18

Income Forecaster» The Portfolio Builder tab also allows you to generate an indicative forecast of income distributions from the portfolio that you have constructed by using the Income button at the top of the screen. This will launch the Income Forecaster in a pop-up window (please ensure any pop-up blocking software is disabled to allow this see section 12). The Income Forecaster will be pre-populated with the portfolio that you have constructed. Enter the Portfolio Amount and click Update. The tool will now forecast estimated income distributions per asset over the next 12 months. In the Estimated Planned Withdrawals section input the desired withdrawal for each month to view the impact of any planned withdrawals versus the estimated income distributions. Click Create PDF to produce a printable document. Sections can be de-selected from the printable document by sliding the printer icon from left to right before clicking on Create PDF. 19

Section 9: Adviser management information A number of management reports are available on the platform. To find them simply search for the report name. The reports include:» Client Assets provides a detailed analysis of assets held by every client.» Assets Under Administration provides a summary of assets held by clients.» Available ISA Subscription Amounts details the remaining ISA allowance for the current tax year, for each client.» Unsettled Transfers shows any transfers being processed where funds have not been received by Ascentric.» Historic Valuations provides a client valuation for a selected date in the past.» Uninvested Cash shows all clients who have any un-invested cash in their account.» Asset Transfer Progress allows you to see the progress of all in-specie transfers being undertaken by Ascentric on behalf of your clients, details being available from the 21st working day onwards.» New Transferred Assets shows a real-time summary of all new assets, such as, in-specie transfers, encashed transfers, monies transferred via BACS from either client or third party providers, and any client cheques received, and/or settled in client accounts between specific dates. 20

Section 10: Adding Off Platform client assets Client assets not held on the platform can be added to the portfolio to give an overall wealth statement. These off platform assets will appear on valuations, although they cannot be traded. To add an asset, search for the account in question and select NCA-Product/Assets. The client reference will be pre-filled with the Client Reference and Name. However, the following fields will need to be completed and the Save button clicked:» Wrapper: using the dropdown box, select which Wrapper the asset is to be recorded against;» Reference: click on the N button to add a new off platform asset;» Security: if the asset to be recorded has a SEDOL or ISIN code click on the question mark to select the stock. This is the only way to ensure that the price for the asset is updated automatically;» Short Description: where the asset does not have a SEDOL or ISIN code, e.g. for property or TIPs, use the free-form box to input a description of the asset as you wish it to appear on the valuation;» No. Of Units: if the stock is unitised, input the amount of units (using decimal places as required). For property & TIP s etc, input the number of units as a nominal figure of 1 ; and» Date Acquired: insert the date of acquisition. Once added, the asset can be manually updated by clicking Valuations in the Account Details Card. 21

Section 11: Other information Interest rates on cash balances To get the latest interest rates paid by Ascentric on cash held, search for Interest Rates. Discretionary Fund Management Services Search for DFMs. A list of partners that provide Discretionary Fund Management services on the Ascentric platform will be displayed. Click on the underlined name to access more details of the service. Technical and support services Search for Business Support Services to access a range of third-party support services. Click on the underlined name to access more details of the service. 22

Section 12: Troubleshooting and useful tips Navigational» Items underlined within a client portfolio can be selected to view more detailed information.» Click on the icon to launch a search screen for a given category, for example, searching for a particular fund.» To return to the main portfolio screen at any time, search for Client Portfolios. Please note, clicking the icon will expand the menu item to display more details. Internet Explorer 7» Please enable Programmatic Clipboard Access. To do this click Tools > Internet Options > Security Tab > Custom Level. Scroll down to the scripting section and find Allow Programmatic Clipboard Access. Set this to Enable and click OK. If you receive the message Are you sure you want to change the settings for this zone, click Yes and then OK to Save.» Please ensure that your browser is set to check for new copies of the page at every visit. To do this use Tools > Internet Options in the Browsing History Section, click the Every time I visit the webpage radio button and then OK to Save.» We also require pop-ups to be allowed from our site. If they are not enabled then follow these instructions click Tools >Pop-up Blocker > Disable pop-up blocker. You may be prompted to allow pop-ups from this site. If requested add www.fundsdirect.co.uk into the appropriate box.» Please repeat this process for the address www.ascentric.co.uk.» If you use any third party pop-up blocking software, you will need to follow their instructions to allow pop-ups from our website. Please note, to set your security settings default, click on Tools > Internet Options > Security and then click on the Default Level button. For more information Contact your Business Development Manager or Client Services Team. Telephone: 0345 600 5360 Address: Client Services Trimbridge House Email: customerservices@ascentric.co.uk Trim Street Bath BA1 1HB Website: www.ascentric.co.uk ASC_AUG_0117_v1