Adviser fee payments
new Nucleus Platform
The way we pay adviser fees has changed.
On James Hay online, you received multiple payments, depending on the type of adviser fee payment (initial, regular, or ad-hoc).
On the new Nucleus Platform, adviser charges (initial, regular, and ad hoc) will normally be paid together monthly, four business days after the calculation date (25th of the month). If this falls on a non-business day, the processing and payment dates will be brought forward.
We've put together a calendar that highlights the regular monthly payment dates for 2026.
Below we’ve answered some of the most frequently asked questions on the way we pay adviser fees
Former James Hay Wrap products (IP, Wrap SIPP, ISA, Offshore Bond)
This is calculated based on the day of the month the client opened their product.
For example, if they opened their product on 16 Jan 2007, it would be calculated from the sixteenth of the month to the fifteenth of the following month.
Former Modular iPlan Products (iSIPP, ISA, GIA) and legacy SIPP products
This is calculated based on the day of the month that the client opened their main Nucleus account.
For example, if they opened their account on 8 Jan 2007, it would be calculated from the eighth of the month to the seventh of the following month.
In some cases, clients have multiple accounts, and these will have different NJ numbers. As a result, the products will be billed on different dates.
Yes, on the new platform fees are calculated daily based on the valuation for the previous business day. The daily accruals are then added up on the day of the month of the account opening.
Previously, on James Hay Online, charges were calculated using the client valuation on the first day of the month following the relevant fee period. For example, fees covering 1-31 June were calculated based on the valuation as at 1 July.
To see these payments select the dates you require and view the platform screen by navigating to Clients > Transactions > Charges as indicated in the screen shots below.
Select the client’s product and then:
- select the ‘Charges’ tab
- select the vertical ellipses (three dots) on ‘Adviser charges’
- edit the fee to ‘0’
The first calculation date was on 25 February 2026 with the payment date on 3 March 2026.
We also made a standalone payment on 13 March to cover outstanding charges on James Hay Online (before the upgrade to the new Nucleus Platform). This was later than the 3 March payment to ensure there was no risk to the customer income payment calculations.
The first adviser payment was calculated as follows:
Former James Hay Wrap products (IP, Wrap SIPP, ISA, Offshore Bond) - This was calculated based on the day of the month the client opened their product.
For example, if they opened the account on 16 Jan 2007, it would be calculated from the sixteenth of the month to the fifteenth of the following month.
These clients have had the full monthly fee deducted in the February fee payment to advisers.
Working example:
| Product | Opening date | February fee dates | Days incl in first payment | Avg. daily fee | Calculation | Amount paid |
|---|---|---|---|---|---|---|
| ISA | 16 Jan 2007 | 16 Jan – 15 Feb 2026 | 31 | £5 | 31 x £5 | £155 |
Former Modular iPlan Products (iSIPP, ISA, GIA) and legacy SIPP products - 1 February to the day of the month that the client opened their main Nucleus account.
These clients had a pro-rata of the first monthly fee deducted in the February fee payment to advisers.
Working example:
| Product | Opening date | February fee dates | Days incl in first payment | Avg. daily fee | Calculation | Amount paid |
|---|---|---|---|---|---|---|
| ISIPP | 16 Jan 2007 | 1 Feb – 15 Feb 2026 | 15 | £5 | 15 x £5 | £75 |
Please note, if the day of the month the client opened their main account fell on or after 25 February, then the adviser fee payment will would have fallen into the following month.
- The payment made on 3 March – please refer to question 7 for a breakdown and working examples
- The one-off payment made on 13 March includes
- any outstanding December and January fees from the James Hay Online platform
- any outstanding fees where the client didn’t have adequate cash to cover them on James Hay Online
- outstanding fees because the client’s payment frequency is quarterly, half yearly, or yearly
- fees deducted from 25 February to 9 March (ad hoc, initial, regular, regular initial)
- The adviser fee run on 31 March 2026 – fees deducted from 10 March to 24 March.
Because of the change in the way we process payments on the new platform versus James Hay Online, we made a payment to cover the outstanding fees.
They were included in a one-off adviser fee payment run (where client cash is available) and paid to advisers by BACS, on 13 March 2026.
Where the client did not have enough cash available, we triggered an auto disinvestment to cover this payment (where applicable).
| Outstanding adviser and DIM fees billed to clients' accounts | Disinvestment process starts where cash not available | BACS processing starts | Payment date |
|---|---|---|---|
| 4 March | 5 March | 10 March | 13 March |
The last payment date for adviser fees on James Hay Online was 3 February 2026 and covered applicable fees for December.
Because James Hay Online collected fees in arrears, we transferred all outstanding arrears fees to the new platform during the upgrade. These were not deducted from the client's account as part of the March fee run.
These adviser fees were billed to clients' accounts on 4 March 2026 and were paid on 13 March 2026.
Should you have any questions, please contact your usual Nucleus contact.
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