What types of investment account are available?
  • General Investment Account (GIA) 
  • Individual Savings Account (ISA)
  • Junior ISA 
  • Pension Account 
  • Trust Account 
  • Third Party Product Accounts (if there are any products that you require and that you intend using frequently, we will endeavour to speak with the relevant provider and make them available through the platform)
Is there a limit to the amount of people in a joint Investment account?

There is not a limit or maximum number of people that you can be added to a joint investment account. 

What investments are available?
  • The platform is open-architecture and has a substantial range of funds available (we can add funds not currently available on a case-by-case basis should they be required, if the fund provider is happy to enter an agreement should one not already be in place) 
  • Exchange-Traded Instruments (ETFs, Direct Equities, Investment Trusts and VCTs) available via the London Stock Exchange (both Main Market and Alternative Investment Market (AIM)) are also available.
Which fund groups and Discretionary Fund Managers (DFMs) are available?
  • We have access to all major fund groups 
  • P1 operate a suite of discretionary model portfolios which can be made available (the portfolios are risk-rated comprising Hybrid, Passive and Ethical solutions as well as bespoke services where required) 
  • Third-party DFMs can be added on a case by case basis following a tripartite agreement being entered between P1, the DFM and the intermediary firm
Are structured products available?
  • Not currently (exchange-traded structured products can potentially be made available on a case-by-case basis) 
What are the fund dealing and switch timescales?
  • Dependant on the fund providers but traded once per day (the dealing cut off time will vary between fund providers, so if you miss the cut off time for that day the deal will be made at the next valuation point which is usually the following business day)
Are fund purchases/switches pre-funded?
  • Not currently 
Is rebalancing available and can this be automated?
  • Automated rebalancing is available
What payment types does the platform accept?
  • Currently you can add money to the platform via bank transfer or Direct Debit. Direct Debit can be used to create regular or one-time single payments. For Direct Debit we currently offer automated monthly payments to the platform. Collection dates are the 7th, 14th, 21st and 28th of the month. Flexible collection dates are on our roadmap.
What are the timelines for money on and off the platform?
  • Bank transfer payments take three to five working days to clear and be ready to invest. When using Direct Debit to make one-time single payments, these will be taken on the nearest collection date (7th, 14th, 21st, 28th). Note, it takes five working days to set up a Direct Debit and the collection process begins 3 days before the withdrawal date. Once the Direct Debit is in place then payment instructions should be made 3 days before the collection date. For example: 

 

  • Direct Debit in place - payment instruction made 9th, collected on 14th. Or, payment instruction made 12th, collection made on 21st. 
  • No Direct Debit in place – Direct Debit digitally signed on platform on 9th, Direct Debit set up on the 14th, withdrawal made on 21st. 
How can a client make a withdrawal?
  • Ad hoc: this can be requested directly within the portal and will be made by BACs by default (a CHAPs payment can be made on request) 
  • Regular: monthly withdrawals can be established 
What are the costs associated with the platform?
Does the platform have data links to adviser back-office systems and other customer relationship management (CRM) systems?
  • The platform has a suite of Application Programming Interfaces (API) therefore all data can be extracted from and pushed into the platform allowing it to interface with multitude of back-offices, CRMs and other adviser tools as long as they have appropriate APIs 
  • Current connections: 
  • CURO (Time 4 Advice): Valuation, Fees and Account information 
  • Intelliflo: Valuations and Fees
What can clients see through their Platform account login?
  • Overview valuation and valuations per investment account (or sub-account) 
  • Individual holdings across investment accounts including individual holding performance 
  • Aggregated time-weighted performance 
  • Message hub: for trade confirmations, quarterly reportsconsolidated tax vouchers, direct debit agreements, notifications of changes to the client’s account and other important information
Can the platform be viewed and operated on a mobile device?
  • The platform has been built ‘mobile-first’, meaning that both the adviser and client portals can seamlessly render and be used on mobile phones, tablets, laptops and desktops
What client reporting functionality is available?
  • CGT Reports 
  • Consolidated Tax Vouchers 
  • Quarterly Reports 

N.B. reports are in.pdf format and available online via the Client’s Message Hub 

  • Bespoke Adviser Management Information (MI) reports can be built upon request 
What management information (MI) reporting is available?
  • Bespoke Adviser Management Information (MI) reports can be produced upon request (usually delivered in .csv or .pdf formats) 
  • The platform has a suite of Application Programming Interfaces (API) therefore all data can be extracted from and pushed into the platform allowing it to interface with a multitude of back-offices, CRMs and other adviser tools as long as they have appropriate APIs. Your back-office should then be able to meet most, if not all, of your MI requirements
Who is the Pension Account administrator?
What is the Pension Account drawdown functionality?
  • Flexi-access drawdown and Uncrystallised Funds Pension Lump Sum are both available
Can you hold more than one model portfolio within each investment account (e.g. 50% of an ISA in a passive portfolio and 50% into an ethical portfolio).
  • Yes absolutely. You can create as many sub-accounts as you’d like under each investment account type, all with different investments/portfolios should you wish
 Can clients access the platform without an email address?
  • Every client must have an email address to use the platform 
  • An email address is the unique username when accessing the system, and important platform communications will be notified to clients by an email asking them to login to the system
How does the Message Hub work?
  • Every trade is reported in the client message hub as with other actions, valuations etc… There will be a filter system applied soon that will allow the client to select which actions they have messaged
How are in specie transfers conducted?
  • Transfers will be conducted electronically where possible. If a ceding scheme provider is not signed up to an electronic messaging and transfer servicetransfer will have to be carried out via ‘old school’ manual process and will therefore take longer to complete
Is it possible to white label the platform?
  • Yes, you can white-label both the adviser professional portal and the client portal. Communications from the platform can also be white labelled, including the ability to mask the platform web address (the URL) with your own (such as platform.IFAfirm.com) and the emails automatically generated from the Message Hub
What support and training is available?
  • We provide onsite and web-based training as part of our onboarding process
  • You will have dedicated support for go-live and the subsequent settling in period
  • Periodic visits can be made with focused ongoing training and support, including regular calls with your account manager 
  • We have a support desk operating 9-5pm