Please note that we can only accept payments from the verified bank account that is registered on the client's profile. For recurring payments via direct debit, the client needs to have a direct debit mandate in place and the "client requires a direct debit" box must be checked within the client details tab. This is sent out as part of the below process if it was not done at outset.
The name that will appear on the client's bank statement is Seccl Custody Ltd who is the custodian for the platform. Recurring payments can be collected on the 1st, 7th, 14th, 21st and 28th of the month.
- Go to the Adviser Portal and log in.
- 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, and then click Account actions and Pay in.
- Choose Regular Payment as the payment type.
- Choose the date of the month for the regular payment, the amount and whether the payment method is bank transfer or direct debit. N.B. we recommend setting up a direct debit rather than a standing order.
- Select if the money coming in is to be kept in cash or invested. If invested, the instruments or models are selected here. If there are investments on the client’s account, auto investment will apply any cash paid into the existing investment strategy.
- When you have input all the information, click Review to double-check that everything looks OK. If so, click Submit.
A payment request is now created. For direct debits, the client receives a direct debit mandate notice, and if they didn't previously have a direct debit mandate set up, they will need to agree to this within the client portal. A copy of this can also be obtained in the Adviser Portal under the client's 'Notifications' tab.
Payments are then collected on the requested date and potential orders are routed to market and executed. Contract notes are generated within 24 hours of orders being executed and the client can view them in the Client Portal. again, these are also available in the Adviser Portal under the client's 'Notifications' tab.
If the payment was made to an ISA or JISA, the remaining subscription amount will update automatically when the payment lands in the account.
Related FAQ's
How do I amend an existing regular payment?
How long does it take to set up a new Direct Debit Mandate to collect single and regular payments?