YOUR MOVE TO THE
SCOTTISH WIDOWS PLATFORM

LATEST UPDATES

Good news! We’ve successfully completed the move from Advance by Embark to Scottish Widows Platform. We would like to thank you for your support and patience during the move.

Please keep an eye on the important information below and we’ll update this over the coming weeks.

Scottish Widows Platform Introduction

IMPORTANT INFORMATION TO BE AWARE OF

The majority of historical documents from Advance Platform have now been uploaded to client document libraries. Some older documents are still being uploaded. Last updated 11 December.

If you try signing into the platform and your password is rejected, or you have not logged in before and you have forgotten your password or it is no longer valid, simply click “Forgot password?” to reset it.

Please note, three incorrect password attempts will result in an account lock, requiring you to email us for assistance in unlocking it.

When resetting your password, avoid using special characters. Automatic password generators can still be used, but please exclude special characters to ensure a successful password is set. Last updated 24 October. 

In preparation for the migration, the Retirement Account fee was deducted on 19 October. Unfortunately, rather than deducting a proportion of the fee, the full quarter’s fee of £18.75 has been deducted. We are sorry for any inconvenience this may cause. This has now been refunded on the Scottish Widows Platform. Last updated 6 November. 

During the migration process some Firms were set up again and Advisers have been sent new user credentials over the migration weekend. If this has happened to you, please use the new user credentials to view your migrated clients. We are sorry for the inconvenience and will look to carry out a ‘merger’ of the two firms in the future. Last updated 25 October. 

The Performance page on the Platform has been disabled while we work to improve it. Last updated 25 October. 

We are pleased to report that the Client Report functionality has been restored. Please be aware of the following:

  • Performance Breakdown: you will not be able to select the Performance Breakdown component of the Performance section whilst we continue to work on this section.
  • Initial Adviser Charges: Within the Client Report any Initial Adviser Charge taken will align to the date keyed instead of the date it was actually paid. This anomaly will only impact overall figures where the reporting period covers only one of these dates.
  • Internal Account Transfers: The Report will not highlight any values within the Account Transfer boxes and these will always be zero. Any internal account transfers will be included in the Money In/Out figures associated with the individual products.
  • Performance Graphs: The Report currently, will not treat Reregistration (In or Out) as Capital Movements and therefore, will appear to show value changes as due to performance rather than a contribution/withdrawal. This only impacts the Value and Money Movements, Return performance, Discrete performance, and Cumulative performance. All valuations will be accurate in the other sections of the document.

Last updated 11 December.

When selecting a Graphene model portfolio for investment, please select the model portfolio that is called “Advance Graphene”. These are the models that we migrated from Advance Platform. Following the migration, we have duplicate models set up for Graphene and we are working to merge these. Last updated 25 October.

The Confirmation Schedules generated for clients in their document libraries have been causing some confusion as they detail all transactions of money in since the account started on Advance. We are removing these from the document library whilst we work on a solution to reissue them in a way that is much clearer for clients.

It is not currently possible to set up a Building Society Account that requires a roll number on the Scottish Widows Platform. You can either use a different bank account when setting up payments out or you can request that we set up the building society account for you.

Please email the building society account details, along with confirmation that you have verified the building society account by checking the appropriate documents, to openwork@scottishwidowsplatform.co.uk. Please use the subject “Building Society Account Set Up” in your email.

You will then be able to select this account when setting up the payment out. The team will confirm to you once it is set up. Last updated 30 October.

All direct debits that were authorised on Advance Platform have migrated to Scottish Widows Platform, even where there is not currently a regular contribution set up.

We are aware that Barclays have communicated with all customers to tell them that their direct debit has been migrated. This may cause some confusion for clients who do not pay a regular contribution, but please reassure them that we will not be collecting any contributions from clients who do not currently pay a regular contribution, but the direct debit is in place for future use. Last updated 30 October.

Following the migration from Advance Platform to Scottish Widows Platform some offshore fund managers are yet to settle their funds with the new nominee. This may cause delays to sell trades. The platform will continue to try to place these trades until it is successful. Last updated 6 November.

We are aware that the platform has generated some short historic regular statements. The statements are showing the correct figures at the dates quoted, but may cause some confusion. We are sorry for any confusion these statements may have caused your clients. The next regular statement produced will be for the full quarter on the correct quarterly statement date. Last updated 16 November. 

Remuneration Reports, that include migrated accruals may show incorrect percentages, however the pound amount figure is correct. The accruals for remuneration were migrated to the Scottish Widows Platform but the percentage figures for the migrated accruals are not being accurately represented. We apologise for any confusion this may cause. Last updated 16 November.

UPGRADED TECHNOLOGY FOR YOUR PLATFORM PROPOSITION

Image of Jude Nicol, Customer Services Director.
Openwork logo.

I am delighted to confirm we have successfully completed the migration from Advance by Embark platform to Scottish Widows Platform. This transition marks a significant milestone in our commitment to providing you with the latest platform technology.

You now have access to exciting functionality, robust capabilities, and newly upgraded tools. Scottish Widows Platform is our strategic platform for the future. This will focus our investment, allowing us to react more quickly to market changes whilst ensuring you benefit from the latest technology.

You will continue to receive dedicated support provided by the same Business Development Managers and Platform Onboarding Consultants. This website provides you with an overview of the Scottish Widows Platform, the processes involved in the move and important information you may need to know. We will update this website over the coming weeks so please keep checking back here for updates.

We look forward to helping your business develop and grow over time as you help your clients achieve their savings and investment goals.

Jude Nicol
Customer Services Director

THE BENEFITS OF THE SCOTTISH WIDOWS PLATFORM

Choice – A range of tax wrappers and investments available online.

An intuitive user experience – The screens have been designed to make your life easier – it’s set up to adapt to your changing needs.

Help and support – The platform offers lots of guidance throughout to help you troubleshoot any problems you may have.

New range of tools – An exciting new range of tools are being provided by FE and EV. Please speak to your BDM about accessing EVPro.

Integrated CGT calculator – A new integrated CGT calculator is being developed to provide you with an enhanced experience.

Benefits of the Scottish Widows Platform icons for dark background. icons contain the words: Choice, efficiency, An intuitive experience, reliable technology, help and support, easy to implement, new range of tools, security, integrated cgt calculator and Access to fund centre & associated tools.

Efficiency – Key transactions and processes are fully automated. No wet client signature needed.*

Reliable technology – Delivered in partnership with FNZ, suppliers of quality award-winning technology to some of the largest and best-known platforms in the market.

Easy to implement – No IT integration is required to use the platform. You can sign-up and start using the service almost immediately.

Security – Now, more than ever, security is key. Protecting you and your clients is of our utmost concern and you will see some new security features throughout.

Access to the Fund Research Centre and associated tools –  Supporting you and your clients with information on their investments. It’s provided by FE Fund Info (previously Financial Express).

* Unless required by a third party.

TRAINING SESSIONS

We recently held training sessions on the Scottish Widows Platform. Recordings of these sessions are available to watch below.

KEY DOCUMENTS

To view your new Terms of Business, client’s new Terms and Conditions, Key Facts and other documents just visit your Key Documents page.

FAQs

We have comprised a list of FAQs to help you with any issues you may have. These are accessible on the link below.

HOW WE COMPARE

Here we give a high-level summary of how the Scottish Widows Platform compares to your clients’ current product(s).

ABOUT THE SCOTTISH WIDOWS PLATFORM

The Scottish Widows Platform is provided and administered by Embark Investment Services Limited, a wholly owned subsidiary of Embark Group Limited. In January 2022, Embark Group became part of Lloyds Banking Group, a leading UK-based financial services group.

The Scottish Widows Platform offers access to a Personal Pension, a Stocks and Shares ISA, a General Investment Account (GIA), a Third-Party Investment Account (TPIA), Junior Personal Pension, and a Junior Stocks and Shares ISA.

Based on market-leading FNZ technology, the platform has around 6,000 mutual funds available from more than 100 fund managers, as well as a wide range of listed stocks, shares, ETFs, and Investment Trusts via a fully integrated dealing solution.