New business and top-ups. Application and illustration user guide

Transcription

1 COLLECTIVE INVESTMENT Account New business and top-ups Application and illustration user guide

2 Contents. Your advice. Contribution details 3. Fund selection 4. Application options 5. Payment details 6. Review summary 7. Declaration Contents Client details (starting from the homepage) 3 Client details (create a new client record/search for existing client record) 4 Client details (select client record) 5 Starting the illustration/application process 6 Choose an investment range 7 Selecting the product 8 Single or joint investment, or top-up? 9 Your advice 0 Contribution details (contribution type) Contribution details (lump sum contribution) Contribution details (re-registration/transfer) 3 Contribution details (regular contribution) 4 Fund selection 5 Fund selection (search by fund/portfolio) 6 Fund selection (percentage to be invested) 7 Fund selection (WealthSelect Managed Portfolios) 8 Fund selection (phasing or rebalancing) 9 Application options 0 Application options (income/withdrawals and irrevocable designation) Application options (adviser fees) Application options (illustration) 3 Payment details 4 Payment details (payment method) 5 Payment details (confirmation) 6 Payment details (additional information) 7 Review summary 8 Review summary (continued) 9 Declaration 30 Declaration (submit application) 3 Application confirmation 3 Reviewing the submitted application 33 Finding a partially completed application 34 Continuing a partially completed application 35 What happens next?

3 Client details (starting from the homepage). From your homepage, select the Clients tab.

4 Client details (create a new client record/ search for existing client record). Create a new client.. Or search for their name. 3

5 Client details (select client record). select the client s record to access their details. 4

6 Starting the illustration/ application process. to submit a new investment or top-up application, select New investment.. select the Illustration option if you require an illustration only at this stage and do not wish to to enter additional information required for an application, such as payment details. Tip: The illustration option can be turned into an application should you wish. Illustrations can also be generated during the New investment process. Your illustration or application is saved each time you move to the next step in the process, and you can access it again at any time on this page, in the Latest Activity tab. 5

7 Choose an investment range. select the investment range for the ISA application.. Select Proceed. 3. if you are going to be topping up an existing ISA, choose the investment range that the account is in. If you wish to top it up using the other investment range, exit this application process and submit a Swap investment range instruction from the account page, before doing the top-up. Tip: More information on the SelfSelect and WealthSelect investment ranges is available on our adviser website: For guidance on how to change the investment range on an existing account, please read the Swap investment range user guide on our Literature Library. 6

8 SELECTING THE PRODUCT. select the Collective Investment Account.. Then Next. Tip: Hover over the? icon to display a help tip. 7

9 Single or joint investment, or top-up?. select Create a single investment if the application is to be in this client s sole name.. select Create as a joint investment to add another client to the application. 3. if the client already has a Collective Investment Account, you can choose to top it up using the investment range it is currently in. 4. or exit the application to swap the investment range. 3 Note: In response to FCA Platform Rules, existing Collective Investment Accounts that are on Charge Basis or Charge Basis will be converted to Charge Basis 3 (Service Charge, formerly known as Platform Charge, and adviser fees) on completion of a top-up, and any commission will be cancelled. You can set up an adviser servicing fee to replace cancelled commission during the application process. Our Total Cost of Ownership tool enables you to compare the charge bases and generate a report to show your client. Please visit our adviser website at co.uk/adviser to access the tool. 4 8

10 your advice. enter details of the advice given for this transaction, and the individual that should receive any remuneration from it.. select the Go to contribution details button. Tip: A green tick icon will display next to each correctly completed step. You will not be able to proceed to the next stage without completing all required details. 9

11 CONTRIBUTION details (contribution type). enter a lump sum, cash transfer, re-registration transfer,* regular contribution or a combination of them all. Expand the relevant section by selecting the Add option. * Re-registration is not an available option if the WealthSelect investment range has been chosen. Tip: Your progress through the application is tracked on a bar at the top of the page. To revisit a page, select it on the bar. Tip: Throughout the process, you can go back to the previous page or on to the next section using these buttons. 0

12 CONTRIBUTION details (lump sum contributions). enter and save the lump sum contribution details and any initial adviser fee that is to be taken. You can save more than one contribution.

13 CONTRIBUTION details (re-registration/transfer). enter the name of the ceding provider and their correspondence address.. enter details of the cash transfer or re-registration transfer. 3. if the client has more than one account with the same provider to be transferred, you can add the details here. 4. Select Save when finished. Tip: There are two types of transfers available: Re-registration transfer Cash transfer all funds Re-registration is not available for applications into the WealthSelect investment range. If you select Cash transfer all funds you will be asked to input an Adviser initial fee. If you select Re-registration transfer you will be able to input an ad hoc fee for illustration purposes later in the process. 3 4

14 CONTRIBUTION details (regular contribution). enter and save the regular contribution.. select Go to fund selection when you have completed all the relevant contribution sections. 3

15 FUND SELECTION. to view and select funds, expand the page by selecting the Select funds link. Tip: the details you have entered on each previous step are summarised on the right of the screen. To view details of the other sections you have completed, select the section title. 4

16 fund selection (search by fund/portfolio). Choose either to search for a Managed Portfolio (if using the WealthSelect investment range), one of your own portfolios, or to search by funds.. start typing the name of the portfolio/fund, or select the View all funds option. 3. as you type in the name of the portfolio or fund, matching results will be shown in a list below for you to select from. 4. select the fund/portfolio and click the Add button. 3 4 Tip: For top-up applications the existing fund choice will automatically populate. Select Save and exit at the top right of the screen if you want to stop working on the application at any point. It will be saved in the client s record, in the Latest Activity tab. 5

17 fund selection (percentage to be invested). the fund or portfolio you add will be entered into the table below.. enter the percentage to be invested into each fund, or select Split equally. 3. to remove a fund, tick the box next to it and select Remove. 4. When finished, select Save. 3 Tip: You can save the funds you have selected or the portfolio you have edited as a new portfolio. 4 6

18 fund selection (WealthSelect Managed Portfolios) The Managed Portfolios for the account type you have selected will be displayed.. You can filter them using the investment strategy dropdown box to show just income or growth versions of the portfolios.. Select the Managed Portfolio. 3. Select Save. Notes: UK VAT will be applicable to the Service Charge (formerly known as the Platform Charge) on Collective Investment Accounts which are invested in a WealthSelect Managed Portfolio. Non-private clients outside of the UK or Channel Islands cannot invest in the WealthSelect Managed Portfolio Service through the Collective Investment Account, as we cannot restrict the application of UK VAT to the Service Charge. 3 7

19 fund selection (phasing or rebalancing). add phased investment or automatic rebalancing to the application if required. Only one of these options can be chosen.. select Go to application options when finished. Notes: Phased investment will not be available to select if you are doing a top-up, have chosen a WealthSelect Managed Portfolio, or if you have saved a re-registration transfer as the only contribution. Automatic rebalancing will not be available to select if you are doing a top-up, have chosen a WealthSelect Managed Portfolio, or have saved a re-registration transfer on its own or with a combination of any of the other contribution types. 8

20 APPLICATION OPTIONS. the next stage is broken down into these sections.. select the title of each one to view individually, or select Expand all forms to view all of them. Tip: Links to forms and other documents you may need are displayed in yellow boxes throughout the application process. 9

21 application options (income/withdrawals and irrevocable designation). select a Withdrawal option and enter the payment details.. if you have selected the automatic withdrawal option, choose a deduction method. 3. add a revocable designation to the account, if required. Notes: The income payment option will not be available if you do not select a fund with income shares at the fund selection step, or if you choose a growth version of a WealthSelect Managed Portfolio. The deduction preference for automatic withdrawals will be set to proportional across all funds if you have chosen a WealthSelect Managed Portfolio. 3 0

22 application options (adviser fees). add details of any servicing fee you wish to take, and the frequency. This can be a percentage or monetary amount, and VAT can be added on top.. select the method of deduction for the charge. This will also apply to the Service Charge (formerly known as the Platform Charge ). 3. Select to add a switch fee, if required. Notes: A signed client authorisation form will be required if you are requesting any fees. You can print off a pre-populated form from this page. The charge deduction preference will be set to proportional across all funds if you have chosen a WealthSelect Managed Portfolio. 3

23 application options (illustration). the Old Mutual Wealth Service Charge (formerly known as the Platform Charge ) is a tiered charge based on the client s total holdings on the platform. if the client has any additional holdings on the platform to be taken into account when calculating the charge for the illustration, select Yes and add in their total value. If not, select No.. if you have entered a re-registration, you can include an ad hoc fee in the illustration. 3. select Get illustration to generate an illustration based on the details you have entered. 4. when finished, select Go to payment details. 3 4

24 PAYMENT DETAILS. select this option to enter the payment details for each contribution type. Note: This step will not appear if you have saved a re-registration as the only contribution. 3

25 PAYMENT DETAILS (payment method). enter the details of the payment method. The debit card option is only available for contributions up to 99, If selected, you will be taken to a secure third party site to make the payment. You will then be returned to this application to submit it to us.. Select Save when finished. Notes: Successful payments made by debit card before the cut-off point (normally 0:30) for applications without an adviser initial fee selected, will be traded at the dealing point on the following working day after you submit the application. If you are setting up a Direct Debit online for regular payments, you must enter the details in the presence of the client and you will be prompted to read out a script to ensure compliance with BACS rules. 4

26 PAYMENT DETAILS (confirmation). the payment details you have saved are now displayed. if the client is transferring the money into our bank account, the bank details are provided.. Select Edit to change. 3. select Go to review summary when finished. 3 5

27 PAYMENT DETAILS (additional information). any additional information we need to complete the application is requested here.. Select Next when finished. 6

28 REVIEW SUMMARY The details you have entered so far are confirmed in the Review summary page.. A printable summary is available.. select Edit to change any details as required. 3. documents we require completing by the client are shown in the yellow box on the right, with additional supporting documents you may need underneath. 3 7

29 REVIEW SUMMARY (continued). after reviewing the application summary, select Go to declaration at the end of the page. 8

30 DECLARATION. select the boxes to agree to the relevant declarations. Tip: Rebate information can be found in the illustration and the Personal Fund List, and must be provided to your client. 9

31 declaration (submit application). if you have selected a WealthSelect Managed Portfolio, there is an additional declaration to confirm agreement to.. select Submit application to send the details to Old Mutual Wealth. 30

32 APPLICATION CONFIRMATION Confirmation that the application has been received is displayed.. any additional actions you need to be aware of are displayed in the blue bar.. Links to required documents are shown in the yellow box. 3. a confirmation will have been sent to the address displayed. Send a copy to a different address here. 4. View a summary of the application. 5. or end the process by selecting Finish and return to client details. 3 Note: We will not invest money from an application on which an adviser initial fee has been requested until we have received the completed and signed Adviser Fee Authorisation form

33 Reviewing the submitted application. the application you have submitted is displayed in the Latest Activity tab in both the client s record, and on your homepage. Select it to view the information entered on the application. It cannot be edited after it has been submitted.. after the application has been invested and an account set up, documents confirming the investment will be found in the Documents tab. 3

34 Finding a partially completed application. Your saved application is kept in the client s record, under the Latest Activity tab. Select it to view and edit. Tip: Use the Delete option if you want to remove applications that will not be proceeded with from the client s record. 33

35 Continuing a partially completed application. each section you previously completed has been automatically saved, and is shown in the Summary. to continue the application, firstly go through each saved step to check the details are still correct, by using the go buttons at the end of each page. You cannot jump to the first uncompleted section. 34

36 What happens next? The requirements for processing applications differ depending on the investment type, contribution method and remuneration options selected. The following information is intended as guidance only the specific documents required and any other instructions you need to follow are confirmed at the end of the online application process in the application confirmation, and are based on the details you have entered.. Arrange for the following to be sent to us, as applicable: The payment. Documents such as the signed Adviser Fee Authorisation form or Direct Debit mandate. Note: We will not invest money from an application on which an adviser initial fee has been requested until we have received the completed and signed Adviser Fee Authorisation form.. once we have received all requirements we will set up the account, and invest the payment if it has already been received. Please read the Collective Investment Account Terms and Conditions on our Literature Library for more information. 3. a contract note confirming the investment will be issued to the client, typically two working days afterwards. A copy will be available for you to view in the client s record, in the Documents tab. Calls may be monitored and recorded for training purposes and to avoid misunderstandings. Old Mutual Wealth is the trading name of Old Mutual Wealth Limited which provides an Individual Savings Account (ISA) and Collective Investment Account (CIA) and Old Mutual Wealth Life & Pensions Limited which provides a Collective Retirement Account (CRA) and Collective Investment Bond (CIB). The WealthSelect Managed Portfolio Service is provided by Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited are registered in England and Wales under numbers and respectively. Registered Office at Old Mutual House, Portland Terrace, Southampton SO4 7EJ, United Kingdom. Old Mutual Wealth Limited is authorised and regulated by the Financial Conduct Authority. Old Mutual Wealth Life & Pensions Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Their Financial Services register numbers are and respectively. VAT number When printed by Old Mutual this item is produced on a mixed grade material, which uses a combination of recycled wood or paper fibre from controlled sources and virgin fibre sourced from well managed, sustainable forests SK9667/4-059R/April 04 35