Our platform

Platform release 21.1

We're focused on developing and investing in our proposition to deliver brilliant basics and additional services based on your feedback and insight.

On 2 March, we deployed our first release of 2024 - R21.1. Details of the release are listed below. This release also included updates ahead of the new tax year and LTA abolishment on 6 April as well as over 20 bug fixes.

Platform release 19

Risk and regulation

Improve correspondence preferences

New clients will now default to paper correspondence. Clients can still update their correspondence preferences at any time.

What does this mean?

Reduced risk of clients not receiving correspondence.

Junior Isa correspondence sent to registered contact

Welcome letters and client statements relating to a Junior Isa will always go to the registered contact and not the child. Remaining correspondence will be updated in a future release.

What does this mean?

Makes sure no important correspondence gets missed.

Update to platform fee calculation on cash

We’ll no longer be charging fees on any cash balances on the account.

What does this mean?

This change will save your clients money.

Changes to bank correspondence

Clients are notified at their home address of any new bank details added to the platform in which withdrawals can be made to.

What does this mean?

Enhanced fraud prevention for your clients.

Adviser and client experience

Changes to phased drawdown tolerance logic

When the phased drawdown tolerance threshold is met, an amount-based trade will be converted to a unit trade.

What does this mean?

Reduces the chance of a failed disinvestment and any delays to clients receiving their pension income payment.

Coming soon...

Introducing UFPLS

Later this year we'll be introducing UFPLS (uncrystallised funds pension lump sum) as an alternative way to take pension income without the need for drawdown.

What does this mean?

Reduces phased drawdown issues for clients who are exhausting their pension drawdown pot with each phased instruction. Single and regular UFPLS will be available.

Removal of Isa top up preventor

A client will no longer need to submit an updated client declaration if there’s been a break in Isa subscriptions.

What does this mean?

This update will make it quicker and easier for existing clients and their advisers to pay into their Isa after a break in subscriptions, saving both time and paperwork.