The mailing that contained their charges schedule for the new platform will have been delivered between 14 August and 2 September 2024. An additional letter was sent in September 2025 to customers who joined the platform after this time, or who we have an updated address for.
Frequently asked questions
We’ll confirm your clients new reference number(s) in our Welcome to the Nucleus Platform letter, which they’ll receive in February, after the upgrade takes place. They should use this as the reference for future payments to their products, but they won’t need it to access the new platform.
We’re targeting the weekend of 7 and 8 February 2026 for the James Hay upgrade to the new Nucleus Platform. You’ll be able to access it from Monday 9 February 2026.
We're targeting the weekend of 7 and 8 February 2026 for the upgrade to take place, and it’ll be available on Monday 9 February.
User guides for advisers are available on our dedicated Adviser Help Hub.
Customer guides will be available on our website once the Nucleus Platform is live, to support them in getting familiar with the new processes on it.
Comprehensive resources (including videos and webinar training) will also be available for advisers ahead of the upgrade.
Our letter of April/May 2025 includes a Simplified, transparent pricing flyer. It outlines how our pricing will work on the new Nucleus Platform.
Further information is available on the Our charges page of our adviser help hub.
As part of the upgrade, you’ll be able to see all transactions from the past five years on the new platform. You won’t be able to see your clients’ product history on James Hay Online after the upgrade.
We're writing to James Hay customers now because we’re targeting the weekend of 7 and 8 February 2026 to upgrade them to our improved investment platform, the new home for their products. With that in mind we wanted to highlight the following:
- Confirm the upgrade date, and outline temporary changes to our service (and related deadline dates) in the period before it
- How to register for a Nucleus Platform online account and log in for the first time
- Changes to Direct Debits and standing orders
Other one-off charges
While we’ve reduced the number of charges, there are some one-off fees that apply in specific circumstances, such as offshore bond set up, or the sale or purchase of Exchange Traded Investments (ETI) – which are payable when they take place. These charges only apply when the relevant options/actions are taken so your clients only pay for what they use.
For commercial property some transactional charges also apply.
Also when your clients start to access the benefits from their pension, either through a lump sum or regular income payments, then an annual income drawdown charge will apply.
Other annual charges:
- Investment Manager account covers the cost of using an external Investment Manager for a SIPP. For the Modular iPlan, this is accessed via the Whole of Market module.
- Stockbroker account - this fee covers the cost of investing with our stockbroker accounts: EQI and Stocktrade.
- Annual property charge covers the administrative cost of managing the commercial property investments in a SIPP
Although our brand name is changing from James Hay to Nucleus, the James Hay Pension Trustees legal entity will continue to be responsible for pension funds placed with us, so you’ll continue to see this name.
The platform upgrade and new branding are part of our wider strategy to grow our business and improve the online service we offer. Read more in our Platform upgrade news.
We’ve already sent your clients their specific charges schedule (in our August 2024 mailing). An additional letter was sent in September 2025 to customers who joined the platform after this time, or who we have an updated address for.
We’re not able to provide more specific details at the moment. Once the upgrade has taken place, you’ll be able to obtain a personal illustration for them based on the new pricing via the Nucleus Platform.
Our current James Hay pricing approach and the new Nucleus Platform approach are very different. Many existing transactional charges are being absorbed into the platform charge and modules.
If customers have questions, we always recommend they speak with their adviser in the first instance if they have one. By speaking to their adviser, they can discuss the specific rates that that firm have agreed with James Hay for them.
We can also provide your firm with a version of your current James Hay charges schedules (updated for AWE), with the new platform schedule attached for reference. Contact your Business Development Manager if you would like a copy.
If you have any questions throughout the upgrade process, please speak with your usual Nucleus contact or our Customer Service Centre on 03455 212 414 or via email at ask@nucleusfinancial.com
All customers pay an annual platform charge which is either a fixed fee, a percentage of assets or a combination of both. Your client may pay other charges depending on the products they have, the assets they trade in and specific events. You can find their current charges in their existing James Hay charges schedule.
As a result of the changes, many customers will pay less and some will see an increase. We’ve simplified our pricing, to make it easier to understand the charges your clients pay, and details are set out in the new charges schedule we sent them.
If you’d like help to understand the charges, please get in touch with us and we’ll be happy to assist.
All customers will be able to access our new customer portal, allowing them to view their products and make some changes online. Those who already have a James Hay Online account will be guided to register for the new platform when they first login after the upgrade. We’ll be making all customers aware of how to find the new portal and how to register or login for the first time.
All customers included in the upgrade will be set up on the new platform with the paper-based communication option. This preference can be updated on the platform at any time.
However, all new customers joining after the upgrade will have electronic communication as the default – again, this preference can be updated if required.
This terminology is consistent with our literature and website.
We’ve been working with many providers of back-office software to ensure that data from the new platform will be available. Information relevant to your software provider will be available here shortly so do check back.
The Nucleus Wrap and existing James Hay data feeds will remain unchanged for now and will appear alongside the new Nucleus Platform data feed.
Yes, details of your firm will be ready for you on the new platform, based on our current understanding of your structure. Following the upgrade, there’ll be more options available for setting up different user levels for your organisation, so if the initial set up doesn’t look quite right, it can easily be changed. Read more in our Platform upgrade news.