Customer upgrade support
The new platform is almost here!
Customer upgrade frequently asked questions
New platform
We're making a multi-million-pound investment in upgrading our service to you. As part of major changes to our systems, your product is moving to our new, improved platform. Find out more on the 'What will be different' tab.
The platform upgrade and new branding are part of our wider Nucleus group strategy to grow our business and improve the online service we offer.
This means you benefit from the combined scale, expertise and technological know-how of all our platform businesses.
We'll have new bank account numbers for you to make payments to. You'll also be allocated a new product account number which should also be used as the reference for payments.
Details of these will be sent to you after the upgrade. In the meantime, please continue to make payments as normal.
Account numbers for all products upgrading to the new platform will change. After you've upgraded to the new platform, we'll write to you again confirming your new account number.
You'll retain any investment options that you're currently using, although some asset types won't be available for new investments. The current Select and Collect funds will be replaced by a competitively priced and wider range of platform assets, including a large range of UK Exchange Traded Instruments (ETI).
Yes - you'll be able to submit one off crystallisations with us directly using a paper application. Alternatively, your adviser will be able to submit both one off and phased drawdown requests online.
Yes - following the upgrade we'll apply tax relief on eligible pension contributions when these are applied to your account.
All products in the scope of this change will be upgraded, including those where a transfer out is in progress. We’ll continue to work to complete the transfer as quickly as possible and we’ll reimburse if you are negatively impacted by any changes in price resulting from the upgrade.
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 product history on James Hay Online after the upgrade so we recommend you login and get any information you might need before the upgrade. Don't worry, we can always help with any historic information requests after you've been upgraded.
After upgrading to the new Nucleus Platform, updated Terms and Conditions will apply. If you don’t wish to change to our new terms for any reason, you have the option to transfer out. If we’re unable to complete the transfer of your products before they’re upgraded to our new platform, we’ll honour the existing terms and conditions while the transfer is completed.
We no longer apply exit fees if you choose to leave any of our products. Charges for transferring a property do, however, continue to apply.
Key information
We're writing to James Hay customers now because we’re targeting the weekend of 7 and 8 February 2026 to upgrade you to our improved investment platform, the new home for your products. With that in mind we wanted to highlight the following:
- Confirm the upgrade date we're targeting, 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
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.
Our multi-million pound investment will deliver:
- A more responsive and efficient service
- A wider product range, so more choice
- Simpler charging so it's easier to understand what you pay
- Intuitive, modern technology that's easier to use
Guides will be available on our website once the Nucleus Platform is live, to support you in getting familiar with the new processes on it.
If you have any questions throughout the upgrade process, please speak with your financial adviser or our Customer Service Centre on 03455 212 414 or via email at ask@nucleusfinancial.com.
Keeping you informed
You'll receive a few letters from us before the upgrade takes place. Our first letter was sent in August 2024, notifying of the changes and that updated terms and conditions will apply on the new Nucleus Platform. A second letter was sent in October 2024 and a further update sent in April 2025. We also wrote to customers who had joined us since that time and hadn’t received these letters in September 2025. A final letter confirming the date of the upgrade will be mailed to you approx. 60 days before the change takes place.
Online content covering additional detail about our plans is available on the 'Keeping you informed' tab.
We'll do our best to avoid changing the date once we've notified you of it. However if we do need to, we'll write to you again confirming the new expected dates and what it means for the changes to our standard service.
In the days before the upgrade of your product, there’ll be some changes to our standard service – this is to ensure the upgrade is as smooth as possible. We’re keeping these to a minimum and hope they don’t inconvenience you too much.
You won't be able to place any instructions within the restricted trading period. Full details of the deadlines will be available on the 'Temporary changes to our service' page of our Customer upgrade support online hub in advance. We've written to you with some initial information about this and will write again to confirm specific deadline dates soon.
You won't be able to place any instructions within the restricted trading period. Full details of the deadlines will be available on the 'Temporary changes to our service' page of our Customer upgrade support online hub. We've written to you to confirm the specific deadline dates which can be found in the 'Getting ready booklet'.
After the upgrade, all correspondence and statements will be sent directly to you. It won't be possible for you to choose for it to be sent to an adviser or other third party. To avoid any issues, please ensure your address details are up to date.
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.
Temporary changes to our service
In the run up to the upgrade, to ensure it goes smoothly there will be some temporary changes to our service which we hope won’t inconvenience you.
We're targeting the weekend of 7 and 8 February 2026 for the upgrade to take place, during which our online service won’t be available. It will be restored on the following Monday (9 Februrary).
The temporary changes to our service relate to the restricted trading period we're putting in place ahead of the upgrade. This is necessary to ensure the upgrade goes smoothly.
Any requests received after the dates indicated in the Getting Ready booklet cannot be accepted. You’ll need to resubmit them on the new Nucleus Platform, after 9 February 2026, once the upgrade has taken place.
Data on your account activity for the last five years will still be available online on the new platform after the upgrade. If you want to keep a record of data and documents on your account before that time, please go onto James Hay Online before the upgrade and download it.
We’ll confirm your new reference number(s) in our Welcome to the Nucleus Platform letter, which you’ll receive in February, after the upgrade takes place. You should use this as the reference for future payments to your products, but you won’t need it to access the new platform.
If you wish to transfer a SIPP from another provider in-specie, assets will not be available on your account until the whole transfer (all assets received) has completed.
Product changes
The table below shows how our James Hay product suite maps to the Nucleus product suite:
| James Hay product name | Nucleus product name |
|---|---|
| Modular iPlan (Modular iSIPP, Modular ISA and Modular GIA) | Nucleus Modular iPlan Nucleus Modular iPlan (Modular iSIPP, Modular ISA, Modular GIA, Modular Offshore Bond) |
| Wrap (Wrap Investment Portfolio, Wrap SIPP, Wrap ISA, Wrap Offshore Bond) | |
| Private Client SIPP | |
| iSIPP | Nucleus Flexi SIPP |
| Life Company SIPPs | Life Company SIPPs |
No, it doesn’t apply to the James Hay iSIPP (which will become Nucleus Flexi SIPP) or SIPPs acquired via a life company such as Aviva.
Since we wrote to you in August 2024, we’ve made some further updates to our terms and conditions. In a subsequent letter to James Hay Modular iPlan, Private Client SIPP and Wrap customers we highlighted:
“If you hold any Whole of Market assets in your ISA, GIA or Wrap Investment Portfolio that are classed as ‘funds’, your adviser will trade them through our platform after the upgrade, in the same way as they do through the Investment Centre now. This is for both top ups and new purchases. If this applies to you, you’ll see these assets on your statement, but you don’t need to do anything now.”
The summary on the Letters and T&Cs page of the Customer upgrade support hub details the other changes we’ve made.
Yes. In the letter we sent in August 2024 which contained a Key Changes Summary document, we also flagged that a copy of the related Terms and Conditions is available on our Customer upgrade support hub. We’ve since made a few changes to these Ts&Cs, and this is what we refer to in our April 2025 letter.
Full details of these recent updates are available to view on the Letters and Ts&Cs page, and also on the cover page of the Ts&C document itself.
Pricing on the new platform
Most of our customers will pay around the same on the new Nucleus Platform as they currently do now. Some will have a reduction and a small proportion will experience an increase due to the nature of their investment choices.
- Where can I find charges schedules for current James Hay products?
If you have a financial adviser, speak to them to obtain a copy of your current charges schedule.
You can view standard rate charges schedules either on the:
- Customer upgrade support hub – visit the Letters and Ts&Cs page, or on the
- James Hay literature library.
The Nucleus Platform pricing is simpler than the current James Hay model. It has higher ‘module’ charges but far fewer additional transaction charges. This is a much simpler, more transparent approach – with less scope for unexpected fees.
Investments are complex but how you pay for them shouldn’t be. With the new Nucleus Platform, you’ll will only ever pay for the investments you have, the products you use and the choices you and your adviser make.
Our charges will be split into three main types:
- Platform charge
- Charges for specific services
- Additional charges that may apply in certain situations
The platform charge will replace the annual administration charge* and covers costs associated with holding the following assets:
- Platform funds – including those in model portfolios
- On platform exchange traded investments
- Fixed term deposits and notice accounts
It’s charged as a percentage of the value of the assets you hold and there’s no longer a minimum charge.
[* note – The James Hay Wrap currently has a minimum monbthly fee rather than an annual administration charge. This product is being upgraded to the Nucleus Modular iPlan and a platform charge will apply.]
We offer a simple, tiered pricing structure, based on portfolio size.
Charges are lower for higher tiers. This tiered approach ensures that as your investments grow, you benefit from progressively lower charges. There are three, four or five tiers depending on your product.
The charges schedule we sent you last year outlines the specific rates and tiers that apply to you.
These are charges that apply depending on the products and services you use. They’re for assets that are held off the platform, such as directly held shares and commercial property, and are fixed fees that we charge once a year. You’ll only pay them if you hold assets in these categories.
- Whole of market
- Specialist investments
- Commercial property
Our Simplified, transparent pricing flyer has further details.
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 you only pay for what you use.
For commercial property some transactional charges also apply.
Also when you start to access the benefits from your 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
There’s no annual administration charge for platform assets any more. The relevant module fees will cover your administration costs.
The Annual Administration Charge currently applies for the James Hay Modular iPlan (£235 p.a.) and our James Hay Private Client SIPP (£455 p.a.).
On the Nucleus Platform, our standard rate tiered platform charge will be:
| Tier | Modular iPlan / Flexi SIPP |
| First £500,000 | 0.27% p.a. |
| Next £500,000 | 0.175% p.a. |
| Over £1 million | 0.05% p.a. |
It will be calculated daily and payable monthly on the plan anniversary (ie the date the your client opened their product).
Pricing will be more specific to product and customer choice, reflecting the modules of investment you use. Some of the key changes are:
- The James Hay Wrap currently has a minimum monthly fee rather than an annual administration charge. This product is being upgraded to the Nucleus
Modular iPlan and a platform charge will apply.
- The drawdown fee will increase slightly but initial drawdown fees are being removed.
- Property annual charges will increase to reflect the additional complexity involved in administering this type of SIPP.
Our third mailing (April 2025) included a Simplified, transparent pricing flyer. It outlines how our pricing will work on the new Nucleus Platform.
Further information is available on the Our products and charges page.
We’ve already sent customers their specific charges schedule.
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 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 you have a financial adviser, speak to them to obtain a copy of your current charges schedule.
You can view standard rate charges schedules either on the:
- Customer upgrade support hub – visit the Letters and Ts&Cs page, or on the
- James Hay website in the Product literature section.
Please speak with your financial adviser if you have one, they’ll be able to provide it.
If you don’t have an adviser, copies of our standard rate charges schedules are available on the Letters and T&Cs page of our Customer upgrade support hub.
The mailing that contained the charges schedule for the new platform will have been delivered to most customers between 14 August and 2 September 2024. If you’ve joined us since that time, your charges schedule will have been sent to you in September 2025.
Investments
We've shared details when trades will need to be completed ahead of the upgrade - please refer to our 'Changes to standard service' flyer for details. If there's an issue or delay that means the trade may not settle before the upgrade we'll ensure your assets are moved over as if they were settled in time.
Changes to Direct Debits and standing orders
The only change you’ll notice is that our name and the reference number you see on your bank/building society statement will be different after the upgrade. Our name on your bank/building society statement:
For ISA, GIA and Offshore Bonds our name will appear on your statement as:
Nucleus Financial Services Limited
For SIPPs our name will appear on your statement as:
James Hay Pension Trustees Limited
Your bank/building society may also notify you that a new Direct Debit Instruction has been set up.
We’ll automatically set up any active Direct Debits for you on the new platform. If you have a Direct Debit that is currently paused (inactive), you'll need to arrange for it to be set up on the new platform when you want payments to restart. Where we're able to set up your Direct Debit for you, your bank may also notify you independently.
We'll no longer accept standing orders, except where related to commercial property investments (such as rent and service charge payments). Please change any existing standing orders, which aren’t property related, to Direct Debits before the upgrade - we’ll then automatically set up your Direct Debits for you on the new platform.
This change will also affect employer contributions made by standing order, and standing order payments made into your product(s) by any other third party. Please therefore make them aware too where appropriate. They should contact their bank to cancel existing standing orders, and then contact us to set up a new Direct Debit.
A three month grace period will be in place following the upgrade. After that, your standing order payment will be returned to your bank and will not be invested with us.
Once your product has been upgraded, you’ll still be able to set up a Direct Debit Instruction online as part of the Payments in process on the Nucleus Platform.
We’re writing to tenants to provide them with details of the new bank account for any payments following the upgrade (such as rent, service charge, and insurance). They’ll need to update the bank account details for any such payments made after this time.
If your property is managed by CBRE, payments will continue to be collected by them, and there will be no change.
Getting started
If you have a James Hay Online account which you’ve used in the last 12 months, then a new account will automatically be set up for you on the new Nucleus Platform. You won’t be able to access the platform until after the upgrade weekend. After the upgrade, you’ll only be able to see your account information on the new Nucleus Platform – the information will no longer be available from James Hay Online.
The first time you log in, you’ll be asked to enter your existing login credentials which will be used to verify your identity. You’ll then need to set up new details. If you don’t have an active James Hay Online account, you can register as a new user.
As we get closer to the upgrade date there are a few changes you’ll want to be aware of and actions you’ll need to take. Read more on the 'Actions you need to take' tab.
Logging in for the first time
Log into James Hay Online as usual at www.jameshay.co.uk/portal using your existing login details.
You’ll then be guided through the process to register for the Nucleus Platform.
Once registered, you'll receive an email and a letter will be sent to your address with a reminder of your username.
To register after the upgrade:
- Visit nucleusfinancial.com
- Select the Platform logins button
- Select the New Nucleus Platform and then Register for online access.
- Then select If this is your first time registering for customer portal access.
- Enter your details, then select Register.
- If your details match our records, you’ll be registered, and an account activation letter will be sent to your address.
- Once you receive this letter, return to the new Nucleus Platform registration
page and select Register for online access once again. - This time select I've started the registration process and received a code to complete my registration. You’ll be guided through the process from there.
- Once you’ve registered, you’ll also receive a reminder email and a letter with your username in the post.
We’ll send your username both in an email and in a letter once you register. If you later forget it, you’ll need to contact us (call 03455 212 414 or email at ask@nucleusfinancial.com) so we can send you a reminder.
If you currently access your investments via your financial advisers’ own portal, this arrangement will remain the same. We’re working closely with advisers to ensure they can answer any questions our customers may have about these changes.
Support
To log into your online account, please follow these steps:
- Visit James Hay Online at jameshay.co.uk/portal
- Enter your login details (username and password)
- Click “Log In”
If you’re unsure of your username and password, please call our team on 03455 212414 and we’ll be able to assist.
If you haven’t accessed your account in over 12 months, you won’t now be able to access it for security reasons.
Please call our team on 03455 212414 for assistance. They’ll take you through the security checks and reinstate your access.
If you have any questions, we always recommend you speak with a professional adviser in the first instance, if you have one. Alternatively, you can contact us.
- send us a secure message via James Hay Online
- email us at ask@nucleusfinancial.com
- call us on 03455 212 414
We're here to help
If you've further questions, please don't hesitate to contact us.
