Yes, we can facilitate investment into multiple investment strategies for all wrapper types via sub accounts. However, when it comes to pensions, we must ensure we are reporting correctly on these and therefore there must be some segregation so that actions are carried out on the appropriate part of the pension. You will see these referred to as “Groups” on our platform.
Groups allow us to segregate uncrystallised funds, crystallised funds, crystallised transfers, and beneficiary accounts within a client’s pension wrapper. When creating a new pension account, you can specify the “group” name to allow you to distinguish between the different groups within the pension wrapper.
Within each group, a client can have multiple accounts to support different investment strategies. A client would need a new crystallised transfer group every time they transfer onto the platform. The sub-accounts here are purely to allow multiple investment strategies.
Below is a diagram to illustrate how this works:
- You can move funds from an uncrystallised account to a crystallised account by requesting a crystallisation – e.g. from account 1 to account 3, account 1 to account 4, or account 1 to a whole new account.
- You can move funds between accounts within the same group – e.g. between accounts 3, 4, and 5, but not between 3 and 7.
- You can move funds between accounts within a crystallised transfer group – e.g. from account 7 to account 8, but not between 7 and 9.
Please see the full Process Guide for internal transfers here: