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Making withdrawals easier
Our platform makes setting up and manging your clients’ withdrawals simpler and more convenient. You can;
- instruct and manage your clients' income online
- choose flexible income or regular payment dates
- enjoy more ways to manage encashments and distributions.
You can find further information on withdrawing money, one-off payments, and timescales in our money out leaflet.
Flexible income or regular withdrawal dates
If your clients want to redeem some of their funds, they have full flexibility to choose a date from the 1st to the 28th of the month to be paid their regular money or pension income.
It’s quick and easy to amend payment dates on the platform no later than ten days before the next scheduled payment date. Alternatively, your clients can change when they receive their money themselves, by using our online Customer Centre.
More choice for natural income payments
If your clients want to receive natural income payments, you can easily select when the income distributions are paid.
Distributions can either be paid immediately, meaning your client will receive more frequent payments; or they can be rolled up into a single payment and paid regularly on a monthly, quarterly, half-yearly or yearly basis.
Instruct and manage your clients' income online
Managing your clients' income and withdrawals online can make it three to five days quicker for them to receive their money.
- Instruct one off payments online of up to £75,000 for individually owned accounts.
- Set up and manage regular withdrawals and income online for individually owned accounts.
- Crystallise assets and manage pension income online.
- View details of any ‘natural income’ that has been paid to your clients. They’re likely to receive this more frequently (see above).
Clients who are signed up to our online Customer Centre can request withdrawals online, up to a value of £75,000, for ISA and Collective Investment Account (CIA). Requests from Collective Retirement and Collective Investment Bond are not available to your clients online.
More options for managing distributions
Your clients have a third option for receiving distributions:
- Reinvest into the originating asset or a model portfolio in line with the model managers preference.
- Receive the distribution as cash directly to their bank account for ISA and CIA.
- Keep the distribution as cash – can be used to fund advice fees, Quilter charges, income, or regular withdrawals.
If your clients hold model portfolios, all distributions by default will pay to product cash. If your clients hold loose assets the distribution will be reinvested in the originating asset. Each client account can then be reconfigured in one of the three ways outlined above.