Bulletin - May 2022

2 min read 25 May 22

Platform unavailable

The platform will be unavailable during the weekend of Friday, 27 May from 6:00pm to Monday 30 May, 7:30am. We're completing the platform rebrand to M&G Wealth and delivering more platform improvements at the same time.

If you have a new business case to submit online, we recommend submitting these by close of business on Thursday 26th of May, or waiting until Monday 30th of May.

Platform improvements

Over the weekend we're making a number of changes to the platform. Many of these are important foundations for new, upcoming proposition and service developments, to provide you with a more efficient and effective platform.

We’ve listened to your feedback and some changes you will see from 30 May are:

  • Anti-money laundering: you can now add the relevant details online as part of the application and it will be checked immediately – making this a more simple, instant process for you and your clients.
  • Bank details: you can now add and have these verified as part of the online application process making it easier for you to initiate any withdrawals when your clients want them.
  • Quicker and smoother sell and withdraw process: you can now complete this process as one action and your clients can access their money sooner.
  • Supporting information: you told us you want us to collect more information for ISA/ GIA online, like tax residency, rather than only on paper applications, so we’ve added them online.
  • You can now more easily amend client details and edit applications before submitting to make any last minute changes – to support straight through processing.

If you have any questions please contact the Client Service team on 0345 076 6140 or by email.

M&G’s continued investment in the platform further shows our commitment to deliver you the industry’s best platform experience. Read CEO, Rich Denning's latest update with more information.

Final phase of rebrand to M&G Wealth

As we mentioned in an email to you last week, you’ll shortly no longer see the Ascentric logo on the platform and literature. It will be replaced with the M&G Wealth logo. Our registered address and product names will also change. We’ll update you with a reminder of all the information as soon as it goes live.

Important information on Ascentric branded applications

We understand that some applications or other literature might already be with your clients. Rather than asking for them to be completed again, we’ll continue to accept old Ascentric branded literature for the next three months. We’ll remind you when the deadline for no longer accepting these old items gets closer.

Terms changes

We emailed you in early April to notify you of some changes to your adviser Terms of Business, which will apply from 28 May 2022.

As a reminder here’s the comparison document which outlines all the changes including sharing of your Personal Data.

Trusts and Inheritance Tax Modeller

We’ve added a Trusts and Inheritance Tax Modeller tool to the platform. The tool allows you to estimate inheritance tax liability for one or two individuals, demonstrating the impact gifting part of their estate into trust would have on the overall IHT liability. To access the tool, go to the Planning Tools area of the Tools Hub. Login to the platform to take a look.