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 Bed & ISA – Application LF50511

Hi I’m Lucy Silman, Business Development Manager at Aviva.

This short video is designed to support you in completing a Bed and ISA application on the Aviva Platform. 

You can only action a Bed and ISA for clients who hold an ISA and an investment Portfolio under the same AV header number. 

The platform will show you at account level and used or unused ISA allowances. To ensure the full allowance is used we suggest completing the Bed and ISA application as a two-step process. The first step being a sale in the Investment Portfolio.

To action a sale in the Investment Portfolio you would select the Sell option in the blue action buttons on the right-hand side of the screen. 

You will see that you can sell as a percentage or as a monetary value, however you may wish to consider selling a little more to allow for market movements and any fees and charges that are due around the same time as you want to complete this application. 

You can also specify the withdrawal method based on your client’s existing assets. 

Once you have completed this page you will press the continue button and then confirm your sell.

Once you have sufficient cash you can then complete the Bed and ISA option. Again this will be done by using the Bed and ISA option on the blue action buttons on the right hand side of the screen. 

The system will ask you to select the appropriate single or joint life Investment Portfolio to fund the Bed and ISA. It will tell you the amount of cash that you have available based on your previous sale and it will also tell you on the right hand of the screen the remaining ISA allowance.

Your withdrawal type should be available cash and you can then specify the amount that you wish to use for Bed and ISA purposes. 

The bottom half of the this section of the application asks you the assets that you would like to buy in the ISA Portfolio. 

You can select new assets or you can use the existing assets by clicking the existing assets button. Just remember here if you are using existing assets to change the weighting from monetary to percentage. Once you have completed this page you will press the continue button where you are presented with a summary page prior to you submitting the application. 

Thank you.

LF50511 08/2023

ISA Portfolio a flexible ISA – LF50532

At Aviva we offer the ISA portfolio, our ISA is a flexible ISA which enables your client to put in any withdrawals or fees that have been taken out from their ISA in the current tax year back into their plan.

The client you see now has £20,073.79 has a remaining ISA allowance. The £73.79 will be adviser charges that have been accrued for the current tax year. So if your client wanted to put that money back into their policy, they can do that.

That would be accessible by selecting ISA Portfolio and on the right hand side you would select one-off payment and transfer, you then confirm that financial advice has been given and then you would select client single payment.

You then get a reminder of how much the allowance is currently so it’s £20,073.79 and then you would select what method of payment the client would be using. We will say direct credit in this instance.

Then employment status, employers name and their current occupation. Then the origin of funds and their current tax bracket.

So, once you have completed that then you have the opportunity to put on an initial fee if you so wish, before scrolling down and clicking continue.

Then you can either select a model or funds or if you want to stick with existing assets select “use existing assets”. That will bring forward all the funds the client is currently invested in. You could for argument’s sake put money into three separate funds or even just put them into the one model.  Here we will put 100% into the Anon model, click continue.

Then you have your confirmation page which you would review, scroll through this make sure you have keyed it all correctly. Once you’ve confirmed that you have you would then tick the box here but also you can go up to the top here on the right hand side and print this confirmation and then keep it on your back office system. You would then submit the application.

Upon receipt of the clients money we would then marry it up to the expectation you’d keyed and then start purchasing that model for the client and invest that money into the clients policy.

LF50532 09/2022

 

Transfer Tracker Aviva Platform LF50525 09/2022

The Aviva Platform has the facility for you to monitor any transfers you have in progress. This facility can be found in Platform services. Once in the Platform services page you select transfer tracker, this will then give you the opportunity to see what transfers you currently have In progress.

You are then able to select them by adviser or you can look at all your adviser within the IFA firm or you can select what type of transfers you are looking at, whether it be a cash transfer or a re-registration of assets and also you can select the status of the transfer which will be complete, cancelled, pending, in progress-transfer received, in progress- transfer requested, in progress and action required.

So, if we look at the menu currently the first one we have is a cash transfer for £900 and it’s currently showing as pending, its come from an Aviva policy and there is the Platform policy number. If you click on the plus sign at the end, it will give an update on where the transfer is currently. It is showing currently that we are checking the details of this transfer application, and we will shortly request a transfer from the current provider. We will be in touch if we need anything further.

Onto page 2 there is some in progress transfer requested, so it’s another Aviva transfer, £900 and if we click on the plus sign, it will give us an update there as well and this confirms we have requested the transfer today, so that will be the 24^th of June and we expect Aviva to take 1 week to complete the transfer to us. The one below is also an in-progress transfer requested, and it gives the same information there.

We have collected a lot of data in terms of existing providers and their timescales for dealing and processing transfers so when you do click on the plus sign you can be assured that you’re getting up to date information in terms of their turn around times. One provider may have given us a date of four weeks another five week, six weeks and so on and that is based on the current turnaround data and turnaround times we are experiencing with that provider.

So you can filter, for example if you want to see ones that are complete for all your advisers with one showing there, it also enables you to filter down based on which transfer you wish to view whether it be a cash transfer, in-progress, complete or pending so you will always be able to see where you are with your transfers and get up to date information at the click of a button.  

Natural Income Aviva Platform – LF50526 09/2022

This guide will show how to select natural income options on the Aviva Platform. The first stage you can do this is at new business stage. The asset selection screen will prompt you to select reinvest or leave as cash I an ISA portfolio.

You can also select to have the payments paid into the client’s bank account to select this option you first have to add the bank details to the new business application and once these have been saved these bank account details will be shown on the file and you can select to have your payments made to this bank account.

Please note that the option to transfer to a nominated bank account is not available on the pension portfolio. For existing clients, you will need to select the Natural Income option within their plan itself. This screen will firstly show you the existing selection but by pressing the edit button it will also enable you to make any changes you wish to do so.

Once these have been saved they will show on the screen, again, please do remember the option to pay into a clients bank account is not an option on the pension portfolio.

Please note then when the reinvest option is selected that the dividend payment reinvests across the whole model portfolio and not just back into the fund that generated the dividend.