You will be encouraged to submit instructions via the Prudential ISA Online service. Everything you can do online is detailed in the ‘What can be done online section’ below.
Where an instruction is not currently supported by the Prudential ISA Online service, submission can be made by electronic copy. In addition, due diligence documentation can also be provided by electronic copy rather than in original form.
- Email instructions should take the form of an electronic image which includes the client’s signature.
- LFI expects this to commonly be a written instruction signed by the client, scanned or photographed and sent to LFI by email.
The email address you should send the instruction to is: prudential@linkgroup.co.uk
The telephone number for verbal instructions is: 0344 335 8936.
Please read the information below to find out what will be accepted by LFI for each process.
Payments in
Cheque payments
- LFI is not recommending cheque payments at this time owing to difficulties with delivery and banking.
Debit card and bank transfer
- Advisers that are registered for the online service can facilitate payments by bank transfer or Visa debit card.
Payments out
Cheque payments
LFI will normally make client payment by cheque where no verified bank details are held. LFI operational teams are now homebased so cheque payments will no longer be issued. All client payments will now be made electronically. This will impact the following:
- Money out - full and partial redemptions
- Cancellation rights
All payments to investors will be made electronically until further notice.
Client bank details – advisers using online service
Changes to bank details can still be made by advisers online using Prudential ISA online.
ISA Transfer in to Prudential ISA
- A transfer request should be processed using the online system which will generate a transfer authority form.
- LFI will now be accepting an email copy of the signed transfer authority form.
- It should be noted that the ceding plan manager may reject the transfer authority upon receipt as they may require sight of the original to complete the ISA transfer.
Fund switch requests
- A switch instruction can be submitted directly by the adviser without requiring a signature from your client.
Transactions referred to above should still be submitted by completion of the appropriate LFI servicing form, to ensure all required information has been provided and minimise outbound contact for further clarification.
Additional information
For customers who contact LFI direct then the following processes are in place:
Due Diligence Documentation
- LFI will seek to electronically verify the identity and bank account details of the client wherever possible.
- Where sight of documentation to verify a client’s identity and address or bank details is required, an electronic image will be accepted. Should the provided documentation be a photo ID, a photograph of the client must also be included. Note owing to poor image quality these types of documents cannot be accepted by fax.
Client bank details – customers contacting LFI directly
- Where LFI already holds bank details on file these will be used to make all client payments. A request to make a client payment to an alternative bank account will be rejected.
- Where the client no longer has access to the bank account details held on file, or no bank details are held and they wish to redeem new bank details will be accepted.
- Bank details must be provided via electronic copy and should take the form of an electronic image which includes the client’s signature.
- LFI will seek to electronically authenticate the bank details as belonging to the client. If this authentication fails a request will be made for sight of bank details verification. This could be a scan or photograph copy of a bank statement/cheque or an attached online statement.
Change of Address requests
- LFI will allow the investor to confirm the new address verbally over the telephone. Security questions will be used to verify the identity of the caller, and where the caller is unable to complete security questions, LFI will reject the instruction.
In exceptional circumstances where the client is unable to provide an electronic image of their signed instruction, LFI will accept their instruction verbally over the telephone. Security questions will be used to verify the identity of the caller, and where the caller is unable to complete security questions, LFI will reject the instruction.