When dealing with transfers it's always good to prepare as much as you can to limit the risk of the transfer being rejected by the ceding provider. You can do this by delinking the account in question from any investment strategy which may cause changes to the client's holdings, removing any recurring payments and cancelling any direct debit mandates. 

• 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 Transfer. 

• Select Cash as the transfer type, and select partial. You will be given the options, ‘withdraw’ and ‘remaining balance’. Withdraw allows you to enter the exact amount you with to transfer over, and remaining balance will allow you  to choose how much should stay with the original scheme. Choose the relevant option, enter the amount, then enter the provider, value, and reference number.

• You will need to answer the question as to whether the pension being transferred contains Safeguarded Rights. If so, you need to 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.

• You will be asked if you would like the transfer to auto-invest. Selecting yes to this option means that the transfer will be invested into the investment strategy of the account as soon as the funds are on the platform, selecting no will mean the funds sit in the account as uninvested cash – you will be able to invest this manually after the transfer completes.

• Once completed, click Review to double-check the information and then click Submit. 

• The transfer is now registered and has the status With Previous Provider. You can follow the transfer progress in the Transfer Workbench, which is accessed via the Transfers tab in the top menu.

We will then submit the transfer request electronically. If the ceding scheme accepts they will return a valuation of the account and the status in the Transfer Workbench will update to Onboarding Assets. Once the cash has been allocated to the account the status is updated to Completed.

If the ceding provider rejects the transfer request, we will contact you with information about the reason for the rejection so that you can register a new request. 

We will monitor all transfer requests closely and routinely chase ceding providers on your behalf. We chase the scheme via email every 5 working days and our transfers team will call the scheme towards the later stages of the transfer to ensure all is in order. We ask that you also attempt to chase on your client's behalf.