Firstly, a belated very Happy New Year!
This is just a very short reminder of the withdrawal timescales for our clients who have funds invested on either the Standard Life or Transact Wrap Platforms.
If you are planning a withdrawal, it is essential that you give us sufficient notice to ensure funds are available at the required time.
In the majority of cases, if we are given 2 weeks’ notice, this should be adequate for any forms to be completed, for funds to be sold and for the proceeds to appear in your bank account. It is possible however; on the odd occasion it could take a day or two longer because of the requirement for a wet signature on some forms, the possible requirement to provide Bank ID and of course, the vagaries of the postal service.
I am afraid these timescales and the rigid processes involved are completely outside of our control and we do not have any power to circumvent them. Some of the requirements are due to ensuring appropriate levels of security, which is obviously a good thing.
We are expecting Transact and Standard Life to adopt a process involving electronic signatures as time moves on and this will only help with speeding up the process.
Have a lovely weekend.
Yours sincerely
Graham Ponting CFP Chartered MCSI
Managing Partner
