The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.

Using a discretionary model portfolio service

The 7IM Platform is well suited to investing in a discretionary model portfolio service (MPS) either from 7IM or other investment managers. New investment into a MPS is usually done automatically as a Standing Investment Instruction (SII). However, in the instance of an existing account, an in-specie transfer, or a change in DFM model, you can do this yourself by following the instructions in this video.

Transcript (Part 1)

7IM Platform for DFM MPS

The 7IM platform is well suited to investing in a discretionary model portfolio service (or DFM MPS) for your clients. Our platform is open architecture, and we can add new investments quickly, meaning DFMs can choose whatever investments they wish, including any special share classes offered specifically to them by fund managers. And, as we have no trading charges, it means that DFMs don’t have to exclude assets such as ETFs or AIM-listed shares that often incur brokerage charges.

Our platform can also facilitate multiple sub accounts within each tax wrapper, enabling you to run multiple investment strategies for a client, inside a single tax wrapper. This could involve multiple DFMs or a DFM model plus other investments such as cash or other funds.

And our reporting is designed to cater for the requirements of investing in a discretionary MPS. This includes transaction reporting and performance benchmarking in the client’s quarterly statement, separate DFM charges in the client’s account, and MIFID 10% drop notifications on our platform.

7IM as a DFM

Of course, 7IM is an investment manager and we offer a variety of discretionary model portfolios on our platform making full use of the open architecture flexibility that our platform provides. For more information about our MPS, go to the model portfolio section of our website.

Other DFMs

There is also information on our website about some of the other DFMs currently offering their model portfolio service through our platform, including AIM IHT services. Please contact us if you would like to use a DFM not shown on this list.

Access to DFM Models

In order to use a DFM model portfolio, we first need the authority of the DFM to grant access to your firm via our platform. Please ask the DFM to contact us or give us their details and we will contact them.

Once you have access to the DFM’s models, you will be able to use them in your illustrations, in our online application tool, in the Standing Investment Instructions, in our online linking tool, and our dealing screens.

Please watch our other Help Centre videos to learn more about how to create an illustration, how to use our online application tool, how to set up Standing Investment Instructions to automatically invest new cash into a DFM model, and how to manually link clients to a DFM model.

Although most cash investments are automated using the Standing Investment Instruction tool, such as this, there might be times when you have clients with existing assets that you want to use a DFM model, such as after the completion of an in-specie transfer or when changing investment strategy.

There are two ways you can do this. You can either link the client’s account to the DFM model using our online linking tool, or you can rebalance the account yourself, via our online dealing tool, which will also link it to the DFM model. Both methods can be done online and therefore don’t require any additional forms or client signatures.

Manual linking

Using our online linking tool won’t create any trades at this stage and hence the holdings won’t necessarily be in line with the DFM model. But, after the account has been linked, it will be included in the DFM’s next scheduled rebalance and therefore will be brought in line with the model at that point. To see more about how to use this tool, please watch our separate DFM Model Linking & Unlinking video in our Help Centre.

Rebalancing

Rebalancing an account yourself will bring the investments in the client’s account in line with the DFM model now and also create the link to the model, so that the account gets included in any future DFM rebalance.

To do this, go to Transactions > Instruction to deal and then select the Rebalance tab (not the Model Portfolios tab). Then, choose the client, the wrapper, and then the DFM model.

At this point you have the option of exporting a preview of the rebalance calculation into a spreadsheet. This preview will show you all the individual buy and sell trades that the rebalance will carry out, complete with current and model fund weightings and it also contains an estimate of the gains or losses from each sale trade, which can be useful if you are trying to manage the client’s CGT position.

Click on Create Order to add the rebalance trade to your order sheet, where you can also see the underlying buy and sell trades mentioned earlier by clicking the expand arrow. You’ll also be able to see the name of the model you have selected so you can check it’s the right one. Then click Submit to take you to a summary screen where you can do one final review of your order.

Transcript (Part 2)

If you’re happy to proceed, then click the Submit button and a confirmation box will appear. This will also capture your confirmation that you have permission from your client and that you have disclosed the DFM’s fees to them, which will begin as soon as the account is linked. You will need to tick both boxes to proceed. This online authorisation means that no forms or client signatures are required.

Finally click Confirm to send us the trade instructions and to create the new DFM model link. Please note that once you have clicked Confirm, it is not possible to cancel the trades.

You will be taken to the My Orders page where the trades that you have just submitted will be showing as In Progress. Once they have all been traded in the market, the rebalance will move to the Completed tab. This is also mirrored in the client account area where you’ll also be able to see the details of the trade and a contract note for each trade in the client’s transaction listing along with the expected settlement date for each trade.

With a rebalance that consists of sales and buys, we will carry out the sale trades first, at the next available dealing point for each fund, along with any buys that can be done using the available cash in the account. Any remaining buys will be queued by our platform and traded over the next few days depending on when the sales are due to settle.

As soon as the rebalance has been submitted you will be able to see the link to the DFM model appear against the client’s account. This link, which includes the name of the model, as you can see, will also be visible in the client’s quarterly 7IM statement and also, any ad-hoc Client Review Reports or CRRs that you generate for the client. The account will also be included in the various firm level DFM reports and screens.

Unlinking from a DFM

There may be times when you want to unlink an account from a DFM model, such as if you no longer wish the DFM to manage the assets, if the account is due to be closed, or perhaps on a temporary basis to deliberately avoid an upcoming rebalance, perhaps for CGT purposes.

To see how to do this online, please watch our separate DFM Model Linking & Unlinking video in our Help Centre.

Other areas where a DFM Model is used

If an account is linked to a DFM model already, then this model will be the only investment choice for the Model Portfolio tab in our dealing screen, the buy section of our bed & ISA tool and the buy section for our regular investment tool. This ensures that any new investment that isn’t automatic via our SII process, goes into the same strategy and thus avoids the account holding conflicting investments.

To see a list of all your clients that are linked to a DFM, you can download the DFM Model Portfolios report from the Practice Administration reports menu. This report will show all the accounts and sub accounts that are linked to a DFM model. Please watch the video in our Help Centre to see how to download and use the data in this report.

You can also download a DFM Rebalance Exclusions report that will show you any accounts that have been excluded from a DFM’s rebalance for whatever reason, allowing you to follow-up and take action (such as rebalancing separately) if you wish.

And finally, you can download a DFM Model History report, either for a particular client or for all your clients. This report will show you each linking and unlinking action that has happened in the date range that you select, and this will provide you with a useful audit history.

We hope you have found this video useful. Please contact us if you would like any further information or help using our platform.

Linking and unlinking clients to a DFM model

You can link clients to, and unlink clients from, a DFM model portfolio online with no additional forms or client signatures and without having to rebalance the client’s account. This puts you in control of this process and makes the use of a DFM MPS even more efficient via the 7IM Platform.

Transcript (Part 1)

The 7IM platform is well suited to investing in a discretionary model portfolio service (or MPS) for your clients. For an overview on this, please watch our other video in our Help Centre.

In this video, we’re going to look at how you can link clients to, and unlink clients from, a DFM model.

For most new clients investing in a DFM model, they will automatically be linked to the model as part of the online application process if you use the automated Standing Investment Instructions. For more about this, please watch our other videos.

However, there might be times when you need to do the linking yourself, such as after the completion of an in-specie transfer, for accounts that cannot be opened using our online tool, or to change DFM models for an existing client.

There may also be times when you want to unlink an account from a DFM model, such as if you no longer wish the DFM to manage the assets, if the account is due to be closed, or on a temporary basis to deliberately avoid an upcoming DFM rebalance, perhaps for CGT purposes.

You can deal with all these linking and unlinking scenarios online, without the need for any authorisation forms or client signatures, by going to our Tools menu and then selecting DFM Model Portfolios.

This screen, shows a list of all the DFM models that your firm currently has access to, the current level of assets your firm has in each model, and when that model was last rebalanced by the DFM. If there are DFM models not visible that you want access to, please let us know. You might also like to watch our other DFM overview video in our Help Centre for more about this process.

By expanding the arrow next to one of the models, you will also be able to easily see each client and account that is currently linked to that model. This information is purely for display purposes. If you want a spreadsheet showing which clients are linked to which model, then you can get this from the DFM Reports menu. There is also a video in our Help Centre showing how you can download and use this data.

To link a new account to one of the models in your list, firstly, click on the Link button on the right hand side for that particular model. This will take you to the linking screen for that particular DFM model. From here, start typing the client’s name into the box and a list of available clients will appear once you have typed at least three letters and the list will continue to shorten as you type more letters into the box. Once you can see the client you’re looking for, you can click on the expand arrow next to their name, to see the available portfolios, or sub accounts, to choose from. Clicking on one of the portfolios will automatically move it across into the Selected Portfolios box on the right. You can now search for and select other client’s portfolios to link to the same model if you like, as you can link multiple accounts at the same time. Once all the portfolios you wish to link to the DFM model are in the Selected Portfolios box on the right, click on the Confirm button.

A pop-up confirmation box will then appear, and you’ll need to tick all three boxes to proceed. By doing this, you are confirming that you have permission from your client and that you have disclosed the DFM’s fees to them, which will begin as soon as the account is linked.

Once you click Confirm, these accounts will be linked to the DFM model and will then appear under that model when you expand the list of clients, as well as in the DFM report we mentioned earlier. You will also see the model name appear in the client account area and on the client’s reports.

To unlink an account from a DFM model, click on the Unlink button against that model to access the unlinking screen for the model. This screen, will display a list of clients and accounts that are currently linked to this model and you can use the search box to find a particular client if you wish.

Once you can see the client you’re looking for, you can click on the expand arrow next to their name to see the available portfolios, or sub accounts, to choose from. Clicking on one of the portfolios will automatically move it across into the Selected Portfolios box on the right.

Remember, you are selecting the portfolios to unlink from the model, so although the screen looks very similar to the linking process we covered earlier, the end result is to unlink those selected portfolios.

Once all the portfolios you wish to unlink from the DFM model are in the Selected Portfolios box on the right, click the Confirm button.

A pop-up confirmation box will then appear, and you’ll need to tick the box to proceed. Once you click Confirm, these accounts will be unlinked from the DFM model and therefore all links and labels will be removed and the DFM fees will cease.

Transcript (Part 2)

You can use this online tool to change the DFM model that a client is linked to without having to rebalance. Just unlink from one model and then link to the new model and then this account will be included in the new DFM’s next rebalance.

If you do wish to rebalance the account, via our dealing tool, then the rebalance process will also include the change of DFM model linking authority from the client, as well as the trades, so you can do both steps online in one go. Please watch our DFM overview video for more about this.

And finally, any linking or unlinking that is carried out via this online tool, will appear as a “Manual” amendment in the DFM Model History report, along with the name of the user at your firm who actioned it.

We hope you have found this video useful. Please contact us if you would like any further information or help using our platform.

Clients linked to a discretionary model portfolio service

The 7IM Platform is well suited to investing in a discretionary model portfolio service (MPS). This video will show you how you can see which clients are linked to which DFM model and also how you can use the data on our platform to carry out further firm level analysis for management and oversight purposes.

Transcript

The 7IM platform is well suited for investing in a discretionary model portfolio service (or MPS) for clients. For more about this, please watch our other video on this subject.

In this video, we’re going to look at how you can get data on which of your clients are invested in which DFM model and we’ll also show you some tips about how you can use a spreadsheet to analyse and present this data for management and oversight purposes.

Firstly, go to the Reports menu, then DFM Reports, then choose DFM Model Portfolios. This will download a CSV file containing data that will show every account that is linked to a DFM model, the name of the DFM and the name of the model, the DFM fee, the value of each account, and also the date it was last rebalanced.

From here, you can add filters to the columns either by using the menu above or a key combination of Ctrl + Shift + L. This is probably the easiest way to add filters. Once you’ve added the filters, of course you can use these to sort or search to find the information that you’re after.

For further analysis and presentation, you can use the pivot table and chart tools in your spreadsheet, which we will now go through in a bit more detail.

To create a pivot table, choose Insert, then PivotTable and then click OK.

Now you can choose the various pieces of information that you want to show by dragging that field into one of the four areas below.

For example, if you drag the DFM name into the Row section and then the Portfolio Value into the Sum Values section, you’ll be able to see the total level of assets your firm has with each different DFM. You can sort this by right-clicking on the column and choosing sort.

You can have multiple columns of information showing together in the pivot table. For example, by dragging the Portfolio ID field into the Sum Values column, it will also show the number of accounts linked to each DFM. You may want to change the formatting of some of these to make them easier to read.

If you then drag the DFM model name into the Row section, you’ll also then get a breakdown of assets for each model.

Alternatively, you could drag the DFM name into the Filters section and leave the DFM model name in the Row section and this will give you a filter, and you can then select a particular DFM and the table will display the information just for that DFM.

Once you have created a pivot table showing the information you want, you can then use the chart tool to create a graph of that information.

For example, you might want a pie chart of the assets split by DFM or a bar chart showing the assets that you have with each DFM.

These are just a selection of the tools you can use in the spreadsheets and these spreadsheet tools can be useful with many of the other reports that you can download from our platform.

We hope you have found this video useful. Please contact us if you would like any further information or help using our platform.

Bed and ISA

Our bed & ISA tool is a one-click instruction to sell assets in an GIA, subscribe the proceeds into an ISA or junior ISA, and then invest the cash in the ISA.

There is no extra charge for this and virtually no out of market time between sales and buys.

Please avoid placing other trades in the GIA while the bed & ISA sale trades are processed to avoid any possible duplication.

Transcript

We know that a crucial part of financial planning is to maximise tax allowances for clients, including the all-important annual ISA and Junior ISA allowances. This can either be funded by new money from your client or by using existing assets held in a 7IM GIA. We therefore have a bed & ISA tool to enable you to easily use these GIA assets to fund an ISA.

This tool will allow you to:

  • Sell assets in a GIA
  • Subscribe the proceeds to an ISA or Junior ISA; and
  • Invest the ISA subscription into your choice of investments

All this within a single online instruction with virtually no out of market exposure and no charge.

To access this tool, go to Transactions > Bed & ISA > Instruction

From here you can choose the client, choose the GIA to sell the assets from, and choose the ISA to subscribe into and invest the assets in.

Please note that if you want to sell assets from multiple GIA sub accounts, you will need to submit a separate bed & ISA instruction for each sub account.

For the sales in the GIA you will be able to:

  • Sell proportionally across all the assets in the portfolio with or without cash
  • Sell specific monetary amounts from specific funds in the GIA
  • Sell percentages of each fund
  • Use cash that is already in the GIA to either add to the fund sales or instead of doing any sales

Please note that all sale trades have to be monetary amounts so you cannot sell a certain number of units of a holding (for example liquidating an entire holding). This is because the sale proceeds will be unknown at the time you submit the bed & ISA instruction and therefore we won’t know how much the ISA subscription or ISA buys should be for. If you want to do this kind of sale trade, please do it separately on our platform using our dealing screen and then you can use this tool once those sales have settled.

For the buys in the ISA you will be able to:

  • Invest in the DFM model that the ISA is already linked to
  • Invest into your own advisory model portfolio
  • Invest in your own choice of funds
  • Replicate the investments sold in the GIA by clicking the Copy sales button

The remaining ISA allowance figures will include any withdrawals do you can make the most of our flexi ISA. These figures are updated weekly so might not reflect any subscriptions or withdrawals done very recently. You can check all the clients’ allowances by downloading the Unused ISA allowance report from our platform.

If your client hasn’t subscribed to a 7IM ISA in the current or previous tax years, you will also be able to use this tool to confirm that your client wishes to restart their ISA subscription with 7IM. You can do this by ticking the box at the bottom of the screen and confirming the ISA declaration. The bed & ISA instruction can then proceed and we will confirm the ISA subscription restart to your client in writing.

Once you have submitted the bed & ISA instruction, it will be visible on the History screen which can also be exported to Excel.

Where a bed & ISA instruction is submitted before 2.30pm on a working day, we will normally process this by the end of the day.

Both the GIA sales and the ISA buys will get done simultaneously at the next available valuation point for each asset. This means that there will be no out of market time between like for like GIA sales and ISA buys.

Bed & ISA instructions submitted after 2.30pm will be processed the following working day.

Most transactions will be visible in the client’s transaction history on our platform a day or two after the bed & ISA instruction has been submitted. Trades in ISA sub accounts, however, will take a few days longer to appear (once the GIA sales have settled).

Standing Investment Instruction (SII)

A Standing Investment Instruction (SII) allows you to automatically invest new lump sum and cash transfer monies into a set of investments of your choosing, reducing the work and risk to your business. This video explains how to create and manage these instructions online. You might also like to read our Standing Investment Instruction guide for more detail.

Transcript (Part 1)

The 7IM Platform enables you to create and maintain a set of investment instructions that will automatically apply to new cash transfers, lump sums, or regular contributions that get deposited into a 7IM account. This is known as a Standing Investment Instruction or SII for short.

In this video, we’re going to look at how these can be created and amended and also the various tools available on our platform to help you manage your clients’ SIIs.

CREATING A SII

There are two ways in which a Standing Investment Instruction can be created:

  1. For new accounts
  2. For existing accounts

New accounts

When you use our online application tool to open new GIA, ISA, or 7IM SIPP account, you can set up the Standing Investment Instruction as part of the application.

During this process, you can choose whether this SII should apply just to the first payment only that arrives in the account or to all future payments. Choosing all future payments means that these instructions will remain attached to the account indefinitely until either you cancel them or they reach a specified end date. So if another contribution or cash transfer happens in the future, this will automatically be invested for you, minimising the risk that the client accidentally remains in cash, out of the market, and also reducing the amount of work that you have to do.

To see more about our online application tool, please watch the separate video in our Help Centre.

Existing accounts

You can also create a Standing Investment Instruction for any existing 7IM account, not just GIA, ISA, & 7IM SIPP.

To do this, go into the client account area and click on the Manage Investments tab.

The Standing Investment Instructions tab will list all the accounts that the client has on our platform and if there is no SII set up on that account, you will be able to create one by clicking the Add button.

In the SII screen, you can specify if all future cash deposits should be split between the available sub accounts… then you can choose the relevant investments for each sub account. This can be searching for a particular fund, choosing a model portfolio, or selecting funds from your Favourites list. For more about creating a Favourite funds list, please watch the separate video in our Help Centre.

You can also include an allocation to cash alongside each investment.

If you want to keep just cash in a particular sub account, then you don’t have to select an investment and the allocation can remain 100% in cash.

Finally, you can add an end date for this SII if you don’t want it to continue indefinitely.

Once you have finished, click the Create button and then again in the Confirmation pop-up message. The SII is now live and will apply to the next cash deposit that arrives in this account.

TOOLS

The 7IM Platform also has a number of tools to help you manage your clients’ SIIs.

Manage Investments Tab

In the Manage Investments tab of the client account area you can view, amend, or cancel an active SII for a client.

To view the details of the SII, click on the Edit button against the relevant 7IM account.

From here, you can make any changes to the SII, including the splits between sub accounts, different weightings between funds and cash, choosing different investments altogether, or adding an automatic end date for this SII. If you do make any changes, please remember to click Update for these to be saved.

The History button will export any changes that have been made since the SII was originally created, into a CSV file so that you have a complete history for your records.

If you would like to cancel the SII altogether, you can click on the cross at the end. You will see a confirmation message pop up and by clicking on the Delete button, the SII will be cancelled instantly.

Transcript (Part 2)

SII Menu

Under the Transactions menu, you’ll find a dedicated Standing Investment Instructions section for your firm.

Here you can see all the active SIIs that your clients have set up and by expanding the view, you can see the details of each SII. To amend or cancel these, you can go to the Manage Investments tab for that client as we looked at earlier.

In this section, you can also see a history of the cancelled SIIs over a given date range which can be exported into Excel.

Perhaps most importantly, there is a tab called Awaiting Action which will display any transactions that require your attention and action.

Sometimes, even though you have set up an automatic instruction, there are situations where it isn’t clear what we should do with the cash that arrives in the client’s GIA, mainly connected to our process of subscribing new ISA contributions from the client’s GIA.

If, for example, some new cash is deposited into a GIA for a client who also has an ISA, and that ISA has an automated SII set up on it, then there’s a possibility that you might be looking to use some of this cash to make an ISA subscription for this client. Therefore, it wouldn’t be helpful if it all got invested in the GIA.

Because of this, and a handful of other scenarios, we hold fire on carrying out the automatic investment and allow you to decide what you want to happen with that cash.

You can either proceed with the SII by clicking on the Invest In Portfolio button or leave the money in cash by selecting the Leave In Portfolio button.

If there is an ISA subscription set up as part of the online application but the deposit amount received doesn’t match the ISA subscription (perhaps because the client has transferred two amounts to make up a full year’s subscription), then you’ll also be able to use the Transfer to ISA option, after double clicking in the Select ISA column to select the relevant ISA from the drop down menu.

There is also an alert section on our platform homepage to let you know, when you log on, if you have any SII notifications that require your attention. Please keep an eye on this dashboard so that you can take the appropriate action quickly.

New Platform Assets Report

Within the practice level reports on our platform, we have a report called a New Platform Assets report which shows a list of all the assets, both cash and in-specie, that land on our platform over the selected date range. This includes both money from clients and also transfers.

Many firms use this report regularly to track money that arrives on our platform to ensure that any cash gets invested, particularly where a Standing Investment Instruction hasn’t been set up for that client and hence you would invest that money yourselves online.

To help you identify whether you need to take action for any cash received, this report includes information about whether that account has an active SII set up or not and, for cash received into a GIA, whether the GIA is linked to an ISA for the purposes of possible ISA subscriptions.

For historical transactions it will also show whether there was an active SII at the time the cash was received, even if the SII has since been cancelled or ended.

We hope that you find the Standing Investment Instruction functionality useful.

Creating a favourite funds list

Create your own list of funds to use in research, building model portfolios and buying and selling.

Transcript

Here we’re going to look at how you can create, and use, a list of your favourite funds. Doing this will make it much easier when adding investment instructions to an online application, creating or amending a standard investment instruction for an existing account, doing bed & ISA, building a model portfolio and investing via our dealing screen.

The Favourite Funds List is unique to a particular user at a firm, so each user within a firm, can create and view their own list.

To create or manage your list, go to the Security Search section within our Research menu.

You can find a fund by typing in either the SEDOL code or the name. You can also use the percentage symbol before a word to search for that word anywhere in the fund name. For example, I can type in %AAP to find any fund with AAP in its name.

Once you’ve found the fund that you want, click Add to include it in your favourites list below.

When you’re adding the investment instructions to a new online application or if you’re amending the standard investment instruction for an existing account, you can click on the Favourites button to select the funds from your list, rather than searching for them again.

Similarly, when you’re placing trades yourself in our dealing section, you can click on the Favourites button to choose the funds from your list.

When submitting a bed & ISA instruction, you can also click on the Favourites button to choose the investments within the ISA.

You can also use this list when building or amending a model portfolio. Once you click on Add Securities within the model portfolio, you’ll be able to click on the Favourites List button to select one or more funds from your list.

We hope you find this tool useful.

For more information about opening accounts online, editing your standard investment instructions, doing a bed & ISA or submitting trades on our platform, please watch our other videos on our help centre.

Ad-hoc selling and withdrawing

This video will show you how you can request an ad-hoc withdrawal that is funded by asset sales. The withdrawal will ‘queue’ while the sales complete and will then get paid out automatically.

Transcript

Here we’re going to look at how you can arrange a sale and a cash withdrawal instruction at the same time and have the withdrawal automatically paid out on completion of the sale.

To do this, first place the sale by going to our Instruction To Deal menu. Please watch our other video if you want to know more about placing sales.

Once you have placed a sale, please go to the cash movements screen and select the client and the portfolio that you wish to make the withdrawal from.

As you can see, the Available Cash figure now includes the value of the sale I have just placed, so I can submit the withdrawal for that amount.

Our platform will hold on to this instruction and carry out a daily check of the cleared cash balance of this account. Once the sales have settled, and the cleared cash balance the following day is sufficient for this withdrawal, the payment will automatically be made to the client’s nominated bank account. Also, don’t forget that all withdrawals are paid out by CHAPS free of charge.

Please watch our other video if you want to know more about how you can amend a client’s nominated bank account.

Investing cash

There may be times where you will need to invest cash from a client’s account, especially if you’re not using the automated Standing Investment Instruction (SII) tool. Watch this video to find out how you can easily to do this.

Transcript

Investing cash on our platform is normally done automatically using our Standing Investment Instruction tool, either as a result of a new online application or an instruction created afterwards for an existing account. For more about this process, please watch our video and read our guide.

However, there might be times when you want to do this investment yourself manually, so this video will show you how.

Firstly, go to Transactions > Instruction to deal. This will take you to our dealing screen.

There are multiple dealing tabs here depending on what type of investment you want to do. In this video, we’re going to focus on investing new cash into individual funds. Please watch our other videos if you want to invest in a DFM model portfolio service or if you’re looking to sell or switch assets.

As with all our dealing tabs, you first need to select a client, then a tax wrapper or sub account within a tax wrapper. You will see the available cash amount on the screen for the account that you have selected. This figure will reduce as you allocate it to each investment.

Next, you need to choose an investment. In this case we’re going to choose a couple of funds. When searching for the funds, it is best to use the SEDOL code rather than searching by name.

Better still, you can save funds in a Favourites List and then choose from here. Have a watch of the Favourite Funds List video for more about how this works.

As you select each fund, the trade gets added to the Order Sheet below. You can think of your order sheet as a sort of shopping trolley, where you can add the various trades you want before checking out and sending it to us.

In this case, it means that you can add investments for multiple tax wrappers and multiple clients to your order sheet, before submitting the whole lot to us in one go. This should save you time compared with having to get to the end of the trade process for one client and then start again for another client.

The order sheet will also prevent you from buying suspended funds, funds that are ineligible for that tax wrapper, or accidentally investing more cash than the client has in that account.

Once you have added all the trades you want to do for your clients, click on the orange Submit button. This will take you to a summary screen where you can do one final review of your order.

If you’re happy to proceed, then click the Submit button and a confirmation box will appear. Finally, click Confirm to complete the instruction.

You will be taken to a My Orders page where the trades that you have just submitted will be showing as In Progress. Once they have been executed in the market, they will move to the Completed tab. This is also mirrored in the client account area where you’ll also be able to see the details of the trade and a contract note for the trade in the client’s transaction listing. There, you’ll also be able to see the expected settlement date of each trade.

Please note, that as trades are immediately sent to the fund managers when you click Confirm, it is not possible to cancel them.

Selling assets

Whether you want to make a sale to make a withdrawal or to create cash in a client’s account, this video will show you how.

Transcript

Here we’re going to look at how you sell assets on the 7IM platform to raise cash. If you want to know more about setting up a regular sale, then please watch the Regular Withdrawals and Sales video on our Help Centre page.

Firstly, go to Transactions > Instruction to deal to get to our dealing screen.

There are 3 tabs relating to selling assets:

  • Raise Cash – where you want to generate a specific monetary amount. This is the most popular.
  • Sell Units – where you want to sell a specific number of units or shares or a proportion of a holding
  • Liquidate – where you want to sell an entire holding

As with all our dealing tabs, you first need to select a client, then a tax wrapper or sub account within a tax wrapper, and then you choose the assets you want to sell.

When you are using the Raise Cash option as I am here, you can either choose to sell a particular fund – called a Single Order – or you can sell proportionally across all the funds held. You can also choose whether to include any existing cash in the calculation or just the assets.

Once you have selected your sale trade type, it gets added to the Order Sheet below. You can think of your order sheet as a shopping trolley where you can add the various sales you want to do before checking out.

The order sheet will also prevent you from selling suspended funds or accidentally selling more units than the client has in that account.

If you are selling direct equities or ETFs, where we can only sell whole numbers of shares, the system will automatically round up to the nearest share, if you’re selling more than one, or round down to zero if you’re selling less than one. You may therefore want to adjust the total amount of the sale to allow for this.

Once you have added all the trades you want to do for your clients to the order sheet, you can click on the orange Submit button. This will take you to a summary screen where you can do one final review of your order.

If you’re happy to proceed, click the Submit button and a confirmation box will appear. Click Confirm to send us the trades.

You will be taken to the My Orders page where the trades that you have just submitted will be showing as In Progress. Once they have been executed in the market, they will move to Completed. This is also mirrored in the client account area where you’ll also be able to see the details of the trade and a contract note for the trade in the client’s transaction listing. You’ll also see the expected settlement date of each underlying trade.

Please note that as trades are immediately sent to the fund manager once you click Confirm, it is not possible to cancel them at this stage.

From here, you may want to place a withdrawal. For more details about this, please watch the relevant video in our Help Centre.

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