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Wealthtime Platform

Leading the ever-evolving platform market with a modern and progressive approach.

Technology Approach

We believe the market is at an inflection point. It’s entering a new era defined by more flexible technology solutions. And it’s become increasingly digital and data driven. Gone are the days of slow monolithic, single-code platforms that don’t allow for differentiation.

We combine the latest wrap platform technology, online functionality, and MI to ensure that we remain at the forefront of smarter wealth management. By doing so, our users can stay a step ahead and not worry about being burdened with platform that is stuck in the past.

Our core operating system is delivered by GBST. Established in Australia, GBST has been developing software solutions for funds administration and financial services since 1996 and for wrap platforms since 1999. At present, GBST’s Composer technology looks after £165bn assets. Their easy integration increases efficiency and opportunity for innovation, helping us to evolve quickly and continue to provide an intuitive user experience.

1

Committing to GBST

By marrying GBST’s excellence in custody and administration and overlaying our own proprietary technology, we can provide security, differentiation, and innovation with superior customisation. Helping us to meet most of the challenges adviser firms face head-on.

2

Harnessing the power of a hybrid tech stack.

Utilising a range of vendors with plug-and-play technology means we can offer new adviser and investor benefits now and in the future. We have a modern tech stack leveraging the best of the market and in-house technology to differentiate us in the market. This means we can provide you with a seamless service whilst continuously enhancing our proposition.

3

Investing in proprietary technology.

By investing in our own proprietary tech stack, we can achieve true innovation for our user experience and adviser interface. Our proprietary systems allow us to deliver continual change and provide opportunities to create innovation and disrupt the platform status quo.

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Platform Benefits

1

Complete set of product wrappers

Whatever your client’s needs; we’ve got the products to match. Save tax efficiently with our flexible ISA and SIPP, invest for the next generation through our JISA and Junior SIPP or make unlimited contributions in one wrapper with our GIA.

2

Full suite of portfolio management tools

Leave no stone unturned by utilising our wide range of tools, calculators, and reports. Cover everything from CGT to back office integration.

3

Wide range of investment options

Choose from thousands of investments. Shares, funds, ETFs, Structured Products, DFMs and Bonds – you name it, you can probably access it on our platform.

4

Retirement planning services

We’ve got everything you need for managing your client’s finances in retirement. Flexibly take income using Drip-Feed Drawdown, and secure guaranteed income using our services.

5

Hybrid technology

Benefit from a well-integrated hybrid tech eco-system that allows you to focus on your client’s investments. Our approach enables us to rapidly respond to your evolving technology needs.

6

Outstanding service

Our Client Services team are on hand to help whenever you need them. They’re always just a quick call or email away.

The Wealthtime Platform

Wealthtime was created in 2008 to provide advisers with the tools, service and investment range needed to achieve positive outcomes for their clients.

Across all product wrappers, adviser charging is fully flexible and supported by our Cash Facility. Charging is calculated across all the wrappers held within a client’s account rather than being calculated for each wrapper. Making it easier for you to create a portfolio of investments using the most appropriate mix of wrappers to suit your client’s tax position and investment needs.

Accounts

Our flexible Novia Stocks and Shares ISA allows your clients to make withdrawals and pay it back in the same tax year without affecting their ISA allowance.

And with our Novia JISA, you can bring multiple generations in the financial planning process.

Whether your client is saving for retirement or about to start taking an income from their pension, our award-winning Novia SIPP has them covered. They can also use our Novia Junior SIPP to start investing towards their children or grandchildren’s retirement. We support all income options including drip-feed drawdown.

Click on the following links for the reports from Governance Advisory Arrangement for Group Personal Pensions.

If your client has used up their ISA allowance or needs to hold investments as a corporation or trust, it’s time to take advantage of our General Investment Account (GIA). We’re proud of its clear and transparent charging structure and your clients will pay no additional or transactional charges.

We’ve teamed up with RL360 to provide an Offshore Bond option for clients with more sophisticated investment needs and supported by our CGT. View the RL360 Key Features here.

Based on the Isle of Man, RL360 have regional offices in the Far East, Middle East, Latin America and Africa. They are part of IFGL, which serves over 230,000 customers in 170 different countries and now administer assets of over $21 billion for our clients and employ 700 staff.

With the business part-owned by the senior management team, they enjoy committed leadership and a long-term vision to be the best provider of offshore savings, protection and investment for our customers.

RL360 have a B rating from actuarial consultancy AKG, which specialises in the provision of financial services industry ratings, as well as 5 stars for service. No other offshore life operation has a higher rating.

They also won Best International Life Group (Non UK) at the 2017 and 2018 (Highly Commended in 2019) International Fund and Product Awards

Source: RL360. All figures as of 18/08/2021

For further information and documentation please visit:

The RL360 website: www.rl360wrap.com

Offshore Bond KID 

Features

All client facing screens in Investor Zone, Model Portfolio Manager and Report Zone can be white labelled with an your firm’s logo. Simply ask Client Services or your sales contact, supply a logo and we’ll apply it.

As part of our commitment to making it easier to manage your client’s investments, we’ve teamed up with a number of providers to make their products available via our platform. The third party wrapper list here is not definitive. Do get in touch if you would like more information about our third-party partners.

All our product wrappers have their own Cash Facility. This gives you the freedom to manage the levels of cash within your client’s portfolio to suit their needs and make withdrawals when required. All cash and investments are protected by us in accordance with the rules of the Financial Conduct Authority.

The Cash Facility is an operational account and is not designed for long-term investment purposes.

The Wealthtime platform requires investors to hold a minimum of 2% of the total amount they invest in our Cash Facility to cover any fees due. We receive interest on the Cash held within the account. For the period of 1 October 2023 to 31 December 2023, we received 5.23% and paid 1.98%. We currently pay an interest rate of 1.98% on Cash holdings (this amount will vary as interest rates rise and fall), which is informed by the HSBC instant savings rate. This means for every £1000 held, we’ll receive £52.30, we’ll pay the investor £19.80 and we’ll keep £32.50. The £32.50 we keep is the equivalent of a 62% charge on the interest earned in your Cash Facility and is an additional charge on top of your Wealthtime Annual Charge. This additional charge, a Supplementary Platform Charge, helps us to keep our Annual Charge as low as possible while also investing in our platform to ensure we can continue to offer investors and their Advisers the best possible service.

Below are the actual interest rates we’ve received, paid out and the equivalent charge over the last 12 months; however, it’s not indicative of future rates.

Period Interest Wealthtime received Wealthtime pays you Equivalent percentage charge
1 Jan 23 – 31 Mar 23 3.85% (£38.50) 0.50% (£5) 87%
1 Apr 23 – 30 Jun 23 4.44% (£44.40) 0.90% (£9) 80%
1 Jul 23 – 30 Sep 23 5.25% (£52.50) 1.29% (£12.90) 75%
1 Oct 23 – 31 Dec 23 5.23% (£52.30) 1.98% (£19.80) 62%

As we charge investors an Annual Charge on the Cash they hold we will temporarily increase the interest rate paid to investors by 0.25% as an additional amount. This increase is to offset the Annual Charge that is currently being incorrectly charged on Cash holdings; however, please note an investor’s Annual Charge may be more than 0.25%.

Interest will be payable monthly in arrears and will be paid on the 15th of the month or the next available working day, for example, interest accrued in January 2023 will be paid on the 15th of February 2023.

Visit our investor Cash Hub for more information.

Platform enhancements

All our technology enhancements are designed with you and your clients in mind.

Faster Trading Cycles; Traditionally the sales and proceeds from trades can take days to process. Our new minimum trade cycle significantly speeds up the process.

Now, as soon as all sales for a rebalance are contractually confirmed, we instruct the purchases, drastically reducing the time out of market for your clients.

Flexible Drawdown; Launched in August 2022, Drip-Feed Drawdown gives you more flexibility and options when your clients need to take money from their pension.

It allows your clients to take a series of tax-free payments without taking their tax-free lump sum in one go.

Reprice; We operate a tiered charging structure and have simplified the tiers to make things even easier. We’ve reduced the number of standard tiers from five to three and materially reduced the charge for the lower tiers from a starting rate of 0.5% to 0.3%*.

* Applicable for firms with more than £10m of assets on the platform. Fees for firms with less than £10m of assets were reduced to 0.35% from 1 July 2023

New Withdrawal Process: Our straight-through online cash withdrawal process for ISAs and GIAs is now live. The new process has been shaped by volunteers from our Adviser audience and prioritised following your feedback to create this new online feature.  This change will make it easier to get money to your clients when they need it and is one of many improvements we’re making this year to evolve our proposition. 

Portfolio Performance Report: You told us that the report was running too slowly at times. So we’ve put in an update which improves the performance of the report, and it is now considerably faster. We’ve also made a change to the date range that the report looks at. Before, the report showed performance from the inception of the wrapper. It now shows from the date of the first transaction.

Transfer process improvement: We’ve now gone live with our new workflow system for transfers in. It enables greater case management and oversight and brings new automation opportunities.

Electronic signatures: we’ve added a new name to the list of digital signature providers we can accept, bringing it up to 8 providers: Adobe Acrobat Sign, DocuSign, Signable, Legalesign, PandaDoc, SignNow, HelloSign/Dropbox Sign and E-Sign.

FINIO: The FINIO hub helps reduce manual inputs and enrich your data, by connecting platforms with software providers. Intelliflo and Plannr feeds are now available. Read more about our new Finio partnership here.

We’re currently setting up intelliflo users with their automatic daily FINIO data feeds. And, we’re pleased to announce that our valuation data feed into Plannr is also now available.

To find out how to enable your feed into your back-office provider, visit our FINIO webpage.

Fund-specific illustrations: allows you to provide more relevant quotes for your clients. Now, when you run an illustration within Adviser Zone it will generate a Fund-Specific Illustration that lists all the funds and their individual charges provided by FE.

Report Zone improvements: we’ve added new descriptions for each report to provide a quick snapshot of each report’s purpose and benefits. We’ve also added a new ‘income payments’ report and updated our Ex-Ante report to improve the experience when running this report for new clients.

Investor Zone improvements: Your clients now have a much more streamlined and contemporary-looking service. Certain information like current valuations and transaction histories are also now much easier to find. Making these features more prominent is intended to support self-sufficiency, and so reduce the requests you get from your clients to download information on their behalf.

New CGT Calculator: The latest version performs much better, and we’ve seen a significant reduction in the time it takes to import data and calculate figures. Calculations are now available much earlier in the day.

Simplified client illustrations: As a start, to demonstrate our commitment to continuous improvement, we’ve taken the opportunity to update our client illustrations to a clearer, more informative format. More information about your clients’ savings, and the tailored design, makes it easier for your clients to determine how their investments might perform, and how much money they might have in the future.

Secure Email enhancements: We understand how important it is to maintain client records. To help, we’ve added the facility to download secure messages as PDFs – a codified summary to help you with any of your audit requirements.

We’ve also added a new filter that allows you to sort message history by adviser. A simple but useful addition that’ll be particularly handy for paraplanners.

Extra report available: Earlier in the year we added a new income payments report. It allows you to view multiple SIPP clients’ paid income and the PAYE information associated with it. We’re pleased to say we’ve now made this available at wrapper level in Adviser Zone. Making it easier for you to identify what income has been paid from the clients’ wrapper.

More detailed transaction history: We recently refined and improved the transaction history page. Since then, we’ve listened to feedback from advisers and optimised the page. It now includes the wrapper’s start date, and you can download all history in one go. Saving you time when you want to report on a client’s transactions from the wrapper’s inception date to the present day.

Online verification check:  We’re introducing new online verification functionality to cut the time it takes to complete data protection checks when calling us.

Find out more here.

Notifications Centre: We’re happy to announce our new Notification Centre has gone live in Adviser Zone. It has replaced the Status Updates section and will now be your one-stop shop for the latest updates on client cases and submissions. It makes it much easier to keep track of cases and will save you valuable time and energy.

View our guide here.

FINIO: The FINIO data hub connects investment platforms with software providers – giving you better quality data and fewer manual inputs. Last year, we enabled the data feeds to intelliflo office and Plannr. The list of available back-office providers is always growing – check whether your provider is available, or coming soon, and find out what steps to take to get set up:

Visit our FINIO webpage.