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How to:

Use the switch facility

With this easy to use facility you can buy, sell, switch assets and sell for withdrawal all in one place.

Key things to remember

Dealing points:

  • Wealthtime has four dealing points:
    • 9am
    • 10:30am
    • 2pm
    • 4pm

Turnaround times:

  • Typically, switches take around 5 to 7 working days (Based on daily traded funds).

How to view switches:

  • Switches can be viewed via transaction history. This can be found by going to the ‘Wrapper Summary’ page, selecting ‘Reporting’ and then ‘Transactions’.

Stopping a withdrawal:

  • If a withdrawal is no longer going ahead and the ‘Sell for Withdrawal’ option was submitted, please contact Client Services to have the rebalancing stop removed.
  • Any rebalance or realignment instructions on the wrapper will be delayed until we either get a withdrawal instruction or we’re notified to remove the stop.

Switching between models:

  • The switching option is for a client’s individual holdings/assets, switching between models is a separate process that uses the MPM solution.

Adviser Zone journey

The switch facility is available in the client’s wrapper on the ‘Wrapper Summary’ page or from the transaction drop down on the main tool bar

There are four switch types:

  1. Buy
  2. Sell
  3. Switch Assets
  4. Sell for Withdrawal.

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The ‘Buy’ option is used to purchase assets from cash. This option will display the available cash on a client’s wrapper. You have the option to use all or part of this when purchasing into an Asset to include Stocktrade Cash

  • When using the buy option you can search for an asset using its ISIN, Sedol or partial fund name. Once the shortlist has been created, enter either the percentage or amount. If you’re using an amount, the application will be processed as a percentage.

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The ‘Sell’ option allows you to disinvest from assets in to cash. This cash will not be ring-fenced from a rebalance

  • You can sell by either selecting specific assets where you can sell by units, percentage or amount, or by selecting ‘Proportionate Disinvestment’. This option allows you to sell an amount either by the current balance percentage or the default strategy percentage.

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The ‘Switching Assets’ option is used to switch out of assets in to other assets. For model rebalancing please use the MPM tool

  • You can switch assets either by percentage, units or amount. With the proceeds, you can purchase either assets, Stocktrade cash or wrapper cash by percentage or amount. If you’re using the amount, the application will be processed as a percentage.

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The ‘Sell for Withdrawal’ option is used to switch assets in to cash, which is then ring-fenced from rebalancing

  • ‘Sell for Withdrawal’ enables sale proceeds to be held in the cash facility to allow transactions such as withdrawals or GIA to ISA transfer.
  • To ensure the cash is available, this feature will suspend all rebalance or model realignment processing on the wrapper until the BCE, withdrawal or internal transfer is processed. Rebalances will resume once the withdrawal has been processed.
  • For SIPP withdrawals, please ensure you complete the ‘Pension Withdrawal Application’ form and send to us via Secure Email as soon as possible.

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What happens next

A switch application summary is generated during the submission process. This doesn’t need to be sent to Wealthtime but can be signed by the client for your own audit purposes.

A switch statement will be produced once the last trade settles and will be available online showing details of the trade.

Once a switch is placed, we cannot reverse the instruction, unless in extreme circumstances and the request has not already gone to market.

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Contact our team today

Whether you're looking to start using our service, or simply have a question for us, we're just a phone call or email away. Lines are open 9am to 5pm Monday to Friday. To help us improve our service, we may record or monitor calls.
contact for support

For Wealthtime platform queries, call
0345 680 8000

For Wealthtime Classic platform queries, call
03330 417 010