FAQs
Applying for a Modular iPlan
Please log in to James Hay Online and click on 'Apply for Modular iPlan'.
You can view our full charges schedule here.
It takes up to five working days to set up a new Modular iPlan. By this time we will have activated your Modular iPlan products, added your bank accounts, established any contributions and set up any direct debits or income indicated in the application.
As previously instructed, if you are making a transfer from an existing pension scheme or savings product, timescales may be longer than usual.
A Welcome Pack will be issued to you in the post detailing more information.
Your client will receive an email with a link to the DocuSign system.
James Hay Online
If you have less than five clients, please call our Contact Centre on 03455 212 414. If you have more than five clients, please send us a secure message with your request by clicking on Messages > Compose Message.
Your client will receive an email with a link to the DocuSign system. They will then be able to submit their signature from this link.
If your clients’ holdings are held through the Investment Centre you will be able to buy, sell and switch these holdings online. If your clients’ holdings are held through the Whole of Market Module, we will require an Instruction to Trade Form along with the provider’s application form (purchases/switches).
We no longer designate individual points of contact across the business, however if you call our Contact Centre on 03455 212 414, a member of the team can assist you with any query.
Investments
The Select fund range consists of a list of institutional pooled pension funds that are only available to investors who have a financial adviser linked to their plan. Collect funds are available to all investors and is an extensive range of retail unit trusts and OEICs.
If your clients’ holdings are held through the Investment Centre you will be able to buy, sell and switch these holdings online. If your clients’ holdings are held through the Whole of Market Module, we will require an Instruction to Trade Form along with the provider’s application form (purchases/switches).
The banks we use pay us interest because of the total amount of money we hold with them in the pooled client money accounts. We retain this interest in order to avoid charging for managing these accounts, and to keep down the other charges on our products.
We may pay interest on the product bank account at a rate that we will publish on the Bank accounts page of our website.
Costs and charges
Yes, on the James Hay Adviser Charges Form, please indicate whether you would like to opt for a business calculated agreement which will be paid automatically or on an invoiced basis.
No, this will need to be monitored by the investor or financial adviser to ensure there are sufficient funds available. Within James Hay Online, there is the option to set up an alert on the relevant bank account.
Any initial adviser charges get paid on the second Friday after receipt of any transfer payments providing we have received the ceding scheme transfer information.
Ongoing adviser charges are paid on the second of the month.
Please note any amendments to existing adviser charges require an original Adviser Charges Form which will need to be signed and dated by the client. The new form will supersede the existing form.
Benefits, contributions and transfers
Yes - for cash transfers only. Origo is also used for In-Specie transfers out.
No, this will need to be monitored by the investor or financial adviser to ensure there are sufficient funds available. Within James Hay Online, there is the option to set up an alert on the relevant bank account.
Please log in to James Hay Online, select the client’s plan (which will take you to the portfolio page). From here, you need to click on income summary found in the left-hand navigation, followed by request a change of income. This will now take you through a five-step process for either requesting an ad-hoc income payment or changing the regular income in place.
You will need to send in a completed and signed copy of the Benefit Payment Form to our Salisbury address listed below.
James Hay Partnership, Suite 202, Warner House, 123 Castle Street, Salisbury, SP1 3TB.
From receipt of this request, we will normally take up to 5 working days to process the payment. Please note, payment is dependent on us having:
- sufficient cash in the dedicated SIPP bank account
- received evidence of the client’s age
- completed all our anti-money laundering requirements
- received the ceding scheme transfer information.
If the SIPP is invested, then we will also require an up to date value of the SIPP before calculating and paying PCLS. If the SIPP holds off-platform assets (e.g. structured products/TIP, investment manager portfolio), this typically takes an additional 5-10 working days to obtain. If the SIPP holds a commercial property, we will also require an up to date valuation of the property from a qualified surveyor, which will normally take longer.