Customer upgrade support
The new platform is here!
Customer upgrade frequently asked questions
New platform
We've made a multi-million-pound investment in upgrading our service to you. As part of major changes to our systems, your product has moved to our new, improved platform. You can find more information on our website.
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.
Yes, you've been allocated a new product account number which should also be used as the reference for payments. You should have received this in the 'Welcome to the Nucleus Platform letter' sent in February 2026.
Yes, account numbers for all products that have been upgraded to the new platform have changed. We wrote to you to confirm new account numbers after we upgraded.
Any investment options that you used before the upgrade will be retained, although some asset types aren't available for new investments. The previous Select and Collect funds have now been replaced by a competitively priced and wider range of platform assets, including a large range of UK Exchange Traded Instruments (ETI).
Yes - you can now 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 - we'll be applying tax relief on eligible pension contributions when these are applied to your account.
All products in the scope of this change have been upgraded, including those where a transfer out is in progress. We’ll reimburse you if you are negatively impacted by any changes in price resulting from 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 now that we've upgraded. However, we can help with any historic information requests should you need. You can contact us by calling 03455 212 414 or by email.
Updated Terms and Conditions will apply on the new Nucleus Platform. If you don’t wish to change to our new terms for any reason, you have the option to transfer out. If we were 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
The upgrade took place over the weekend of 7 and 8 February 2026, and the new platform was made available on Monday 9 February.
Our multi-million pound investment delivers:
- 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
Customer guides are available on our website to provide support in getting familiar with the new processes.
If you've any further questions on the new platform, please speak with your financial adviser or our Customer Service Centre on 03455 212 414 or via email at ask@nucleusfinancial.com.
The upgrade of your products has involved moving them to new market leading technology. This required us to establish new client numbers and will be an important component of our improved service.
All customers included in the upgrade have been set up on the new platform with the paper-based communication option. This preference can be updated on the platform at any time.
All correspondence and statements are now sent directly to you. It is not possible for you to choose for these to be sent to an adviser or other third party. To avoid any issues, please ensure your address details are up to date.
Data on your account activity for the last five years will still be available online on the new platform after the upgrade. If you need access to data older than five years, please contact our Customer Service Centre team and they will assist.
Keeping you informed
All customers received letters from us before we upgraded, containing important information about the changes. These letters can be accessed in your document library on the new Nucleus Platform. Copies of sample letters can be found on the Letters and T's and C's page.
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 (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. Full details can be found in your T&Cs.
This means you can withdraw money and pay it back into the same account within the same tax year without it counting against your annual £20,000 ISA allowance.
Pricing on the new platform
Most of our customers now pay around the same as they did on the James Hay Online Platform. Some have had a reduction, and a small proportion have experienced an increase due to the nature of their investment choices.
If you have a financial adviser, you can speak to them to obtain a copy of your past James Hay charges schedule, should you need it.
The Nucleus Platform pricing is simpler than the 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 only ever pay for the investments you have, the products you use and the choices you and your adviser make.
Our charges are split into three main types:
I. Platform charge
II. Module charges for specific services
III. 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 had a minimum monthly fee rather than an annual administration charge. This product has been 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 previously 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.
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 fees, 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.
Our standard rate tiered platform charge is:
| 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 you opened the product).
Pricing is more specific to product and customer choice, reflecting the modules of investment you use. Some of the key changes are:
- The James Hay Wrap had a minimum monthly fee rather than an annual administration charge. This product has now been upgraded to the Nucleus Modular iPlan and a platform charge applies.
- The drawdown fee increased slightly but initial drawdown fees have been removed.
- Property annual charges have increased to reflect the additional complexity involved in administering this type of SIPP.
Our Simplified, transparent pricing flyer outlines how our pricing works on the new Nucleus Platform. Further information is available on our products and charges page.
The mailing that contained your charges schedule for the new platform will have been delivered between 14 August and 2 September 2024.
If you joined James Hay after that time your charges schedule would have been sent to you in September 2025.
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.
Investments
If there was an issue or delay that meant the trade did not settle before the upgrade we'll ensure your assets are moved over as if they were settled in time.
If you wish to transfer a SIPP from another provider in-specie on the new platform, assets will not be available on your account until the whole transfer (all assets received) has completed.
Changes to Direct Debits and standing orders
If you have an active Direct Debit we’ve now automatically set this up for you on the new platform. Your bank may also notify you independently.
Our name and the reference number you see on your bank/building society statement is different. Our name on your bank/building society statement will now show as the following:
- 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 no longer accept standing orders, except where related to commercial property investments (such as rent and service charge payments).
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 is in place (from the date of upgrade). After that, your standing order payment will be returned to your bank and will not be invested with us.
You’ll also be able to set up a Direct Debit Instruction online as part of the Payments in process on the Nucleus Platform.
We've written to tenants to provide them with details of the new bank account for any payments such as rent, service charge, and insurance. They’ll now need to update the bank account details for any such payments.
If your property is managed by CBRE, payments will continue to be collected by them, and there is no change.
Getting started
If you had a James Hay Online account which you’ve used in the last 12 months, then a new account has been automatically set up for you on the new Nucleus Platform.
Log into James Hay Online as usual at using your existing login details. You’ll then be guided through the process to register for the Nucleus Platform.
If you don’t have an active James Hay Online account, you can register as a new user through this link.
Once registered, you'll receive an email and a letter will be sent to your address with a reminder of your username.
Logging in for the first time
To register:
- 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. Your adviser should be able to answer any questions you may have.
Support
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.
We're here to help
If you've further questions, please don't hesitate to contact us.
