We believe that clients don’t want to wait for funds to be cleared before they’re invested – that’s why we in certain circumstances pre-fund fund switches, tax relief and rebalancing to ensure your clients time out of the market is reduced to a minimum or removed altogether.
All products benefit from pre-funding to ensure we invest your clients’ money without delay meaning their money is in the market for longer. Your clients have certainty and consistency regarding when rebates are paid and tax due.
Regular/New contributions
For most payment types cleared funds are available on the expected date so trades can be placed immediately. Elevate also pre-funds payments made by cheque so trades can be placed while the cheque is clearing.
Fund switches/Rebalancing
Once we have the unit price of the assets being sold, we will buy at the next valuation point, so clients could be back in the market after only 24-48 hours when switching fund.
Just like switching, once we have the unit price of the assets being sold, we will buy at the next valuation point without waiting for settlement, so rebalancing could be completed after only 24-48 hours
This applies to mutual funds only and not to Exchange Traded Investments.
Tax relief on personal pension contributions
Tax relief on contributions made into the Elevate Pension Investment Account (Elevate PIA) are pre-funded so relief is applied at the same time as the net contribution.
Withdrawals
Elevate’s ‘one-step’ withdrawal option for the General Investment Account (GIA) and Individual Savings Account (ISA) lets advisers select which assets to be sold when arranging a withdrawal for clients. We will begin the BACS payment out as soon as the sale price is confirmed, rather than waiting for the sale proceeds to be received so clients receive their money faster.