Before initiating this process it's helpful if you make sure that all assets being transferred onto the platform are available in the platform asset universe. You can see all currently available assets by clicking Instruments in the top menu in the Adviser Portal. Contact us at servicecentre@soderbergpartners.com if your client has an asset that is currently not in the asset universe, and we'll look into adding it for you. 

To ensure a smooth process we encourage you to make sure the transfer is prepared from the ceding providers side. You can do this by delinking the account in question from any investment strategy, removing any recurring payments and cancelling any direct debit mandates. 

It's a good idea to download or request the initial book costs of the assets in the client's portfolio with the ceding provider so that you can enter them into our system after the transfer is completed. This allows us to show correct performance of the investments, and to calculate CGT correctly. 

Registering the transfer

• Log in to the Adviser Portal.
• Locate your client in the system, either via the Client tab in the top menu, or by using the Client Search function, and open their client record.

• Open the relevant account, click Account actions and then Transfer.

• Select In-Specie and find the ceding-provider from the drop-down list. Enter the reference number and approximate value. 

• If you are transferring a pension, you will need to confirm whether it contains Safeguarded Rights. If so, you must enter your firm's FCA number.

• The address details of the client will be automatically populated in the transfer. It is very important that the address matches the one on file with the ceding provider. If the client holds a different address with the ceding scheme and it is not easy to update it, or you perhaps don't have access, you can amend the address in this screen so that it matches what the ceding provider holds. This does not change the address in the Soderberg platform, but we will use this old address to request the transfer so there are no unnecessary delays.

• Click Review and double check that all the information is correct, then click Submit. 
• The transfer is created with the status With Previous Provider and can be found in the Transfer Workbench, which is accessed via the 'Transfers' option in the top menu.

If the ceding provider accepts the transfer request, they return a valuation to us and the status of the transfer updates to Onboarding Assets. The ceding provider then sends a re-registration request to the fund managers and stocks and cash lines are created and linked to the transfer. At this point you can now update the book cost in the client's portfolio. If the ceding provider rejects the transfer request we will contact you with information about the reason for the rejection so that you can make appropriate changes and register a new request. 

We will monitor all transfer requests closely and routinely chase ceding providers on your behalf. We aim to chase the transfer initially 10 working days after we receive the request and then every 5 working days after that , but we ask that you also attempt to chase on your client's behalf.

Please note that most transfers can be handled electronically, however, some ceding providers still require a more manual process that starts with you sending in a transfer form. You can find the manual transfer form for a SIPP here.