To reduce the number of transactions on your client’s account and to make it easier for you to trade, we have introduced automated cash management functionality.
This means that fees are initially funded from cash. Where there is insufficient cash to fund a fee or charge, we will sell assets to cover approximately six months’ worth of the fee or charge that is due. The proceeds will then fund the fee or charge that is due, and the remainder will be held within the client’s account. If the remaining cash remains in the client’s account and is not subsequently sold, or switched into other assets, it will be used to fund future fees and charges.
This will make it easier for you to place other trades on your client’s account whilst ensuring the process of paying fees and charges runs as smoothly as possible. You can find more information on this new functionality in our cash management flyer.