• Updates to Elevate

    The world of investments keeps changing. Clients demand more. Regulations change. You need a platform that keeps you up to date and ready to meet tomorrow's challenges. That's why we keep updating Elevate so that it's better for you and your clients.

    As part of our latest enhancements to Elevate, we're adding new features to help you and your clients get the most from the new pension freedoms and make Elevate even easier to use.
  • Enjoy a better experience - with Elevate 15.0

    It's important we do everything we can to make your job a little easier. And we're committed to investing in our platform to improve your experience when doing business with us.

  • Instant access to important information

    New summary screen to provide quick access to key information as well as a more efficient overview of your client's account.

    What's new?

    Quick and easy access to key information, including:

    • Elevate ISA and Elevate PIA remaining allowances
    • details on regular payments in and out and the next payment date
    • totals paid in and out of each wrapper
    • easier access to linked accounts
    • charge amounts and payment dates

    Visualise clients’ drawdown arrangements

    New PIA Income Summary that can be used with clients to aid income and retirement planning discussions. 

    What's new?

    Offering you an overview of your clients' drawdown arrangements and the income being paid, you can see the before and after effect of a one-off income payment or any changes that you make to regular income from a drawdown arrangement.

    It also provides projection illustrations to help you see what their pension may be worth in the future, and a comparative lifetime annuity quote to help illustrate the effect of income being taken.

    Clear communications for your clients

    Through consumer testing we've simplified the three most frequently used client facing outputs. 

    What's changed?

    We've updated our Charges information document, Welcome letter and Payments out document to:

    • reduce duplication
    • remove unnecessary jargon to make them easier to understand
    • enhance the formatting to help highlight key information
    • include signposting where relevant
    • contain additional support information

    Easily review clients’ death benefit options

    We've made it easier for you to set up, record and view your clients' death benefit options, so you can be confident their funds will be passed on in the most tax-efficient way.

    What's changed?

    • Flexibility when choosing how benefits are received; annuity, lump-sum payments or drawdown
    • simple to set-up and record clients' death benefit options
    • clear view of death benefit options and beneficiaries selected, and any changes that have been made
    • consistent options for both pre-retirement clients and those already taking drawdown
    • pre-populated forms for clients to sign

  • 40 Couple pointing window

    Enhanced auto-disinvestment functionality

    We've enhanced our auto-disinvestment functionality to allow investments held in model portfolios to be sold automatically, when there is insufficient cash to cover charges. 

    What's changed?

    • Currently our auto-disinvestment feature allows us to sell your clients' investments to cover the cost of any Elevate and adviser charges when there is insufficient cash available in their cash account.
    • Where model portfolios were previously excluded from this functionality our latest enhancement now allows us to include investments held within model portfolios, and sell proportionately across the model when auto-disinvestment is triggered.
    • We're also introducing an additional £50 cash buffer to cover future charges. This means when auto-disinvestment is needed, we will sell enough investments to cover the negative balance plus an additional £50. Helping reduce the number of contract notes your clients receive and the frequency of auto-disinvestment.
  • See what's been introduced in previous releases

    Replacement of dividend tax credit with dividend tax allowance of £5,000

    Tax will no longer be deducted at source on dividends paid from UK shares held individually or in a fund such a Unit Trust, OEIC or Investment Trust (however, distributions paid from interest bearing funds and savings interest will continue to have tax deducted). Tax payers may need to pay tax after their £5,000 annual dividend allowance has been used by completing a self-assessment tax return (but there's no additional tax to pay if investments are held in the Elevate ISA or PIA).

    Lifetime allowance reduction

    The platform has been updated to reflect the lifetime allowance reduction to £1m.

    Aligning pension input periods

    The pension input period must be in line with the fiscal year. This means clients can no longer choose a specific end date.

    Tapered annual allowance for high earners

    The allowance for tax relief on pension contributions will be tapered for those with adjusted annual incomes over £150,000. So, for every £2 of adjusted income over this amount the individual's annual allowance will be reduced by £1, from £40,000 down to a minimum of £10,000.

    Change to taxation of pension death benefits

    Where death occurs after age 75, lump sum death benefits paid to an individual will be taxed at the recipient's marginal rate (where previously 45% tax would have been applied).

    Scottish rate of income tax

    From 6 April 2016, the Scottish rate of Income Tax will apply to account holders living in Scotland. The rate applies to income received from employment or from a pension. It does not apply to investment income or interest payments. The overall rate will remain the same as the UK rate for the 2016/17 tax year so there will be no immediate change in the taxation pension income for Scottish residents.

    However they will have a change to their tax code which is now prefixed with an 'S'. This will be shown on the P60 that we send to clients at the end of every tax year for those taking pension income and the P45 for those who have stopped taking pension income.

    Insistent customers

    We will not accept transfers against your advice where the transfer is from a Defined Benefit scheme or a Defined Contribution Scheme which has safeguarded benefits.

    Regular (drip feed) drawdown

    Enhance the options available at retirement from the Elevate PIA.

    What does this mean to you?

    During the transition into retirement many of your clients may continue working to help supplement their income. Now you can offer them the ability to fund their retirement income using tax-free cash alongside their income.

    With regular drawdown your clients can choose:

    • a regular payment of tax-free cash
    • an additional taxable income
    • a proportion to remain invested in their drawdown fund that can be used to provide a taxable income at a later date
    • a larger initial payment- all in one simple online process.
    New business wizard

    Improving your online journey.

    What does this mean to you?

    • New on screen validation introduced, so commonly missed information is flagged earlier in the process e.g. bank account name or destination account for dividends and distributions
    • Improvements to the selection of ISA charges from the Elevate GIA which include, using the current charge selection as the default choice for existing clients topping up their ISA
    • A number of smaller enhancements to increase usability including the layout of the transfer screen and the consolidation of documents at the end of a wizard
    Contract note layout

    In response to your feedback we've completely overhauled the contract note layout making it easier to use.

    What does this mean to you?

    • a summary page provides a quick overview of the investment transactions for each product wrapper
    • a tabular layout displays the details of completed transactions
    • total transaction values displayed for each section.
    Additional withdrawal options for flexi-access drawdown crystallisations

    New options on Elevate allow you set up one-off income payments from drawdown faster, saving you and your clients time.

    What does this mean to you?

    • Specify a different/additional income payment in the crystallise pension benefits (BCE) wizard
    • No waiting for the BCE request to be authorised before setting a one-off income payment from the drawdown fund, it can all be processed in the same wizard.
    New Quick Quote facility

    Our new improved wizard allows you to quickly see if the Elevate PIA is suitable for clients and reduces the need to rekey data.

    What does this mean to you?

    • Produce detailed pension illustrations quickly and efficiently
    • Quickly produce pension illustrations for brand new accounts or existing clients who do not yet hold an Elevate PIA
    • Automatically transfer to a new business application if your client decides to go ahead.
    Extra UFPLS illustrations options

    Providing flexibility to make the most of new pension freedoms to access pension benefits.

    What does this mean to you?

    • Create a UFPLS (Uncrystallised Fund Pension Lump Sum) illustration using the existing drawdown illustration tool. Create an illustration before deciding to sell down assets for the withdrawal.
    New range of 'budget ready' retirement income options

    Providing flexibility to make the most of new pension freedoms to access pension benefits

    What does this mean to you?

    • Uncrystallised Fund Pension Lump Sum (UFPLS) - withdrawals from pre-retirement pension savings - no need to move into drawdown pension
    • Comprehensive Flexible Access drawdown options - ability to set-up one-off or regular payments; generate tax efficient income using regular PCLS payments.
    New platform convert and merger functionality

    New options on Elevate to convert clients to flexi-access drawdown and consolidate multiple drawdown arrangements

    What does this mean to you?

    • Enables you to convert existing drawdown clients into Flexi-access
    • Ability to merge existing drawdown arrangements for easier income and investment management
    • All on platform, no paper forms or client signatures
    Extended retirement options at age 75

    Elevate PIA has been updated to give clients more flexibility about when they take pension benefits.

    What does this mean to you?

    • Allowing clients extra flexibility to take retirement benefits after this age; and
    • The freedom to transfer other pension benefits to Elevate after age 75

    We listen to your feedback so we can understand how to make investing easier for you and your clients.

    Our two latest enhancements - Portfolioscan™ 2.0 and the Contributions & Withdrawals Report are available now to help you with portfolio analysis and reporting.

    Powerful New Reporting Options with Portfolioscan™ 2.0

    The all new Portfolioscan™ has been redesigned to help you bring even clearer, comprehensive analysis to your clients.

    What does this mean for you?

    The flexible new reporting options mean it’s easy to tailor analysis and insights to the needs of each client, and add even more value to your client experience.

    Watch the video or read our step-by-step help guide for more user tips.

    Greater Insights with the New Contributions & Withdrawals Report

    A brand new reporting tool that gives you improved visibility of business flows into and out of Elevate and your client book.

    What does this mean for you?

    • Easier monitoring of remaining client allowances
    • Easier overview of business flows into and out of Elevate, over a specified time period for all clients and products
    • Export data to a flexible Excel format, means greater control for you.

      The All New Elevate ISA – We’re NISA-ready

      The Elevate Individual Savings Account (Elevate ISA) now supports all features of the new ISA (NISA) announced in the 2014/15 Budget.

      What does this mean for you?

      Higher investment limits, new flexible cash options and an improved annual interest rate on cash for your clients.

      Importantly, there is no change to the way you key contributions onto Elevate for the new ISA. So if your clients want to take advantage of the new limits its business as usual on Elevate.

        Making Elevate Easier for You

        A series of new usability improvements (all in the Elevate new business wizard) are now live on Elevate.

        What does this mean for you?

        We believe these improvements will help to make your day to day business on Elevate even easier – saving you time.

          FATCA – What you need to know

          Elevate is now ready to fulfil our FATCA (Foreign Account Tax Compliance Act) reporting obligations. Read our quick guide to FATCA, to see what this means for you and your clients.

            Elevate 6.0 focuses on improving usability on the platform, making it easier than ever for you to work using Elevate and putting you in greater control of your business.

            Elevate Pension Investments Account (PIA) Illustration enhancements

            This has been completely overhauled using feedback and usability testing.

            THIS MEANS: It’s now simpler, shorter, clearer and easier to understand than ever before.

            We’ve also made a number of changes to meet FCA guidance around ‘real term’ forecasts.

              One-step payment out

              This is new functionality allowing investments to be sold and the proceeds automatically paid out to an external bank account from a single adviser instruction.

              Selecting the destination account, the investments to be sold, any cap for the payment out and the submission of the payment out can all be done in a single visit.

              THIS MEANS: Improved efficiency, helping to save you time and also means your clients will receive their money faster.

                General Investment Account (GIA) as a source of payment

                We’ve added greater flexibility and speeded things up by allowing settled Elevate GIA Cash to be used for payments into the Elevate ISA and Elevate PIA.

                THIS MEANS: You can now move money directly between wrappers helping to save time.

                  Adviser amendment of client details

                  We’ve given you even greater control by allowing you to make changes to client details, such as name, address, date of birth and so on.

                  THIS MEANS: You get greater control, which saves you time and helps to reduce errors.

                    Instant bank account validation

                    We’ve integrated our bank account validation process into Elevate, which means we can provide you with instant confirmation that your client’s bank account has been automatically validated and no further paperwork will be required.

                    THIS MEANS: Saving time and giving you peace-of-mind with immediate validation.

                    Elevates’ full two-way integration with Dynamic Planner

                    • User-friendly interface redesign
                    • Improved Stockbroking offering
                    • New payment method
                    • Enhanced model portfolio control
                    • Back office integration with IRESS XPLAN
                    Elevate 4.0
                    Elevate 4.0