In the adviser portal you can instruct internal transfers of cash or assets between accounts. Internal transfers allow holdings to be allocated across different investment strategies.

You can internally transfer:

• Between a GIA and an ISA (commonly known as a "bed & ISA")
• Between a GIA and a SIPP (commonly known as a "bed & pension")
• Between GIA and GIA
• Between ISA and ISA
• Between SIPP accumulation and SIPP accumulation 
• Between SIPP beneficiary drawdown and SIPP beneficiary drawdown (these will need to share the same group name - See here for more details on this)
• Between SIPP drawdown transfer and SIPP drawdown transfer (these will need to share the same group name - See here for more details on this)

To process an in specie internal transfer, you will need to contact the service centre via email at the following address: servicecentre@soderbergpartners.com.

Please be advised that internal transfers between third-party offshore bond accounts are not supported on this platform.

Transfers of funds between offshore bond accounts must be facilitated by the provider through a withdrawal from one account followed by a payment into the other.

Please check the client's remaining ISA allowance in the platform before attempting this process. This is available at the top of the client's record.

Process

• Start by logging 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.

• In the client's record, click on the Internal movement tab.

• Select the source account.

• Enter the amount you would like to transfer, and select the destination account.

Please be advised that internal transfers exceeding £1,000,000 cannot be processed as a single transaction. However, you may conduct multiple transfers that cumulatively exceed £1,000,000 (for example: one transfer of £600,000 and another of £500,000). 

• The system will ask if you would like to sell down by Value or Units. (If you select units, please be aware that the system calculates the quantity of assets for the sale, it will add a 10% buffer to protect against market movements.)
• If the amount chosen is larger than the cash holding on the source account, an auto-disinvestment will take place. If this is the case, the system will ask whether you would like to do this proportionally or from the largest holding. 

• Next you will need to choose whether you would like the cash to be auto-invested in the receiving account. If you chose auto-invest this will automatically pull through the clients investment strategy or you can choose an asset allocation and the % of cash to allocate to each chosen asset. If your choices do not add up to 100% the remainder will be kept in cash. KIID documents will be available in this view for the funds chosen. 

• Click Review to double-check that all the information is accurate, if not you can Edit, otherwise Submit. 
• The internal transfer is now successfully created. The cash movement is completed immediately, and the sell and buy orders are created on a matched settlement basis, i.e. we’ll align the settlement date of the buys to the settlement date of the sells.
• The pending transactions can be viewed within each account under the Pending transactions section, and also in the transactions list. 

• Contract notes are distributed to the client and visible in the Client Portal within 24 hours of the order/s executing. They are also accessible within the client record in the Notifications tab.