Rebrand to Scottish Widows Platform
Embark Platform has been successfully upgraded and relaunched as Scottish Widows Platform. The platform continues to be administered by Embark Investment Services Limited (EISL), so there are no alterations to your Terms of Business or to your clients’ Terms and Conditions.
To support you with client reviews we have developed our latest feature, Client Reporting, this is now available to all advisers.
The tool enables you to generate customised reports at either an account or product level and includes an introduction, account details, a snapshot summary, valuations, performance, investment insights, and transaction details. The report can be personalised with a cover page, contents page, specific commentary and even your firm’s logo.
We have developed a supporting user guide that explains how to generate and customise reports and help you understand the content.
Security user enhancement
When a security user assists in unlocking another user’s account, they can now identify the specific reason behind the account being locked. For example, incorrectly entering their password or their pin multiple times.
Demonstrating our commitment to the FCA’s Consumer Duty, we’ve undertaken a comprehensive review of our outputs and have implemented improvements to enhance consumer understanding.
Our latest service enhancements aim to simplify processes and address adviser feedback. These updates represent our commitment to delivering a seamless adviser experience and empowering you to provide positive outcomes for your clients.
We will no longer request ID documentation to be sent in following a failed anti-money laundering check. Instead, the automated adviser email will confirm the AML check will be passed within the next working day (on the basis the IFA has completed their check). Therefore, no further action is required; greatly streamlining the process.
Bank Account Verification:
If a new Bank Account fails verification, the automated communication will now state that you can reply to confirm you have completed verification without attaching documentation.
Network Model Portfolio Rebalancing:
Clients invested in Network Model portfolios that rebalance at set frequencies will each be rebalanced based on the day the individual’s account was opened, not the date the Network model was created. This avoids all clients in the same network models being rebalanced on the same day, potentially causing platform performance issues and fund levies.
In this latest release, we have addressed identified challenges and implemented bug fixes to enhance the platform’s stability and overall performance.