Important information for Investment Managers 

The new Nucleus Platform – Important information for Investment Managers 

We're delighted to share that we're targeting the weekend of 7 and 8 February 2026 for the James Hay upgrade to the new Nucleus Platform. We plan to be back online on Monday 9 February.

This page outlines some changes you should be aware of once we upgrade to the new Nucleus Platform, and any actions you need to take. 

Please note, a small number of existing James Hay products are not upgrading to the new Nucleus Platform. These changes do not apply to customers with these products. We’ll let you know which customers are upgrading in due course.

New bank details and customer reference numbers 

What's changing

We’ll be allocating new customer reference numbers, which will replace any existing James Hay member and plan numbers. We’re also setting up new product bank accounts. Payments on the new platform should be made to the new bank accounts, using the new reference numbers, to allow auto-matching and avoid any delays. 

Actions you need to take

In the first few weeks after the upgrade takes place, we'll send you confirmation of old and new reference numbers and updated bank details. We'll have a temporary redirection process in place for the first two months, however, please ensure you update your records as soon as possible. Failure to do so could lead to delays or returned payments. 

Improvements to cash management

What's changing

On the new Nucleus Platform, if there’s insufficient cash available to pay fees, charges, and regular income, automated proportional disinvestment will take place (where possible) to help cover them, including from Investment Management Accounts. Please be aware, you may receive additional requests as a result of this new process after we upgrade. 

Actions you need to take

Where appropriate, please ensure you continue to work with advisers and clients to confirm which underlying assets to sell to ensure there is available cash.

Regular sell instructions for income

What's changing

Customers will continue to have the ability to create regular sell instructions on the new platform to ensure there's enough cash to pay fees, charges, and income payments.

They'll also be able to specify that income is funded from disinvestments from Investment Manager Accounts (where applicable). This will generate an initial request, with subsequent instructions sent at the relevant frequency, asking for funds to cover the full amount of income.

Actions you need to take

Please work with advisers and clients to ensure cash is available to fulfil regular sell instructions, otherwise payments may not be made.

Flexible income payment dates

What's changing

Currently all pension income withdrawals are set for the first of the month, and we ask you to send funds by the twenty-second of the preceding month. On the new Nucleus Platform, customers can choose any date between the first and twenty-eighth of the month for future payments.

Upgraded customers will be moved across with their current date, however, please be aware that in future you may receive requests for money at any time between these dates.

Actions you need to take

If you have specific dates on which you make payments to Nucleus to facilitate income, please make advisers aware, and plan for this accordingly.

New process for inbound valuation and asset holding files

What's changing

We’re changing the email address that you’ll need to use to send us valuation and asset holding (Capital Adequacy) files. We’ll be in touch with the new details in a separate communication prior to the upgrade.

If you currently send these via SFTP, we’ll be changing the SFTP location, and we’ll be in touch prior to the upgrade to let you know the details.  

Actions you need to take

If you send files by email, you’ll need to update the email address.

If you’re using SFTP, we’ve outlined below the steps you need to take when the time comes.

  • Provide your IP address for Whitelisting. 
  • We’ll then provide access and supply new logon credentials. 
  • We’ll ask you to test access to ensure the SFTP is working accordingly ahead of the upgrade. 

We'll work closely with you to ensure that the new process is followed after we upgrade. However, please be aware that failure to receive files through the correct methods may lead to incorrect valuations and delays to benefit calculations. 

Changes to our standard service

What's changing

In the days before the upgrade, there’ll be some changes to our standard service – this is to ensure the upgrade will be as smooth as possible. We’re keeping these to a minimum and hope they don’t inconvenience you too much.

Please be aware

  • The final payment to Investment Managers will take place on Wednesday 4 February. The online facility to instruct a money movement to an Investment Manager will be closed from this time. 
  • You can continue to make payments to us at any time; however, any monies received after 5pm on the Thursday before the upgrade will be processed on the new Nucleus Platform.  

Actions you need to take

Please be aware that requests received after these dates cannot be accepted and will need to be submitted on the new platform. Please liaise with advisers and clients so they can plan ahead accordingly. 

Should you have any questions regarding the information contained in this webpage, please contact imsupport@jameshay.co.uk


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