Pension Trustee, Company, Charity and Trust Accounts

Opening a Pension Trustee Account

UK-registered Pension Trusts can utilise our wide fund range to make investments while the trustees retain all scheme administrative functions. In addition, Pension Trusts can access valuable services through our platform, such as holding multiple member accounts with easy to reference designations. If the pension is an occupational scheme, such as a SSAS, the account will be set up in the name of the Scheme, and the Trustees will be linked to the account.  For personal pension schemes, we set up in the name of the trustee with any corporate trustee as primary owner.

We require the following documentation to set up an account:

• Depending on the type of Scheme, complete either the Occupational pension scheme/SSAS application form or the Personal Pension Trust application form.

• The establishing Trust Deed for the Scheme.

• If the member is a trustee, the Supplemental Deed appointing the individual as trustee and verification for that individual

• PSTR certificate or print-screen from HMRC website showing PSTR information or pension scheme annual return.

• Payment from the scheme bank account (we cannot accept payment from any other source). We can accept cheques or you can provide details on the application form to make a bank transfer; we will contact you with our bank details on receipt of the application (please do not transfer a payment to us beforehand).

• Investing in reportable assets: For accounts held for a personal pension we need nationality details for the beneficiary if they are an account holder or the LEI for the scheme. For accounts held for an occupational pension we need the scheme’s LEI.

If there is a corporate trustee, we also require:

• The names and DOBs of all directors and Chairperson/CEO/CFO. We need the name and position of the people who sign the application form and will cross reference authority to act. This information can be sent by letter on company letterhead.

• Verification for shareholders who own more that 25%. Where there is no shareholder with more that 25%, we need to verify the Senior Management Officials for the company, a list of names can be sent by letter on company letterhead with standard AML evidence for each.

• A board resolution or equivalent detailing the powers/authority of each of the authorised signatories. We additionally need a signatory list with names and specimen signatures. For some companies, this could be the same document, either a board resolution or signatory list, but must fulfil both requirements: specific powers/authority and specimen signatures.

• The names and DOBs of all directors and Chairperson/CEO/CFO.

• We need the name and position of the people who sign the application.

Application forms for opening an account

You’ll find all application forms relating to Trust Accounts below. If you are sending payments to us electronically via bank transfer, applications can be submitted to us via our Upload & Send service or alternatively posted.

Other useful applications

Opening a Company Account

You can establish UK-based company accounts through us. This section is based on a private limited company with share capital. The account will be set up in the name of the company. Instructions should be signed by the authorised signatories of the company.

We require the following documentation to set up an account:

• A company application form signed by two authorised signatories

• The names and DOBs of all directors and Chairperson/CEO/CFO. The name and position of the people who sign the application form. This information can be sent by letter on company letterhead.

• Verification for shareholders who own more that 25%. Where there is no shareholder with more that 25%, we need to verify the Senior Management Officials for the company, a list of names can be sent by letter on company letterhead with verification for each. 

• A board resolution or equivalent detailing the powers/authority of each of the authorised signatories. We additionally need a signatory list with names and specimen signatures. For some companies, this could be the same document, either a board resolution or signatory list, but must fulfil both requirements: specific powers/authority and specimen signatures.

• Payment from the company bank account (we cannot accept payment from any other source). We can accept cheques or you can provide details on the application form to make a bank transfer; we will contact you with our bank details on receipt of the application (please do not transfer a payment to us beforehand).

• Investing in reportable assets: For company accounts we need the company’s LEI.

Application forms for opening an account

You’ll find all application forms relating to Company Accounts below. If you are sending payments to us electronically via bank transfer, applications can be submitted to us via our Upload & Send service or alternatively posted.

Other useful applications

Opening a Charity Account

We support investments for all UK-based charities registered with their national Charity Commission, whether established by trust or incorporated. Charities can utilise our full fund range while retaining all administrative functions. The account will be set up in the name of the charity. Instructions should be signed by authorised signatories of the charity. Please contact us beforehand so we can provide best guidance on requirements.

We require the following documentation to set up an account:

• A Company application form (which is also suitable for charity investments), signed by two authorised signatories
• A certified original governing document (for example, a Trust Deed or Rules)
• If the charity is incorporated, the Company House registration number
• Verification for all trustees or officers of the Charity. Where there is a substantial number of trustees or officers (e.g. above 5), we will accept a list of people with day to day operational control signed by one of the trustees or officers and need to verify these individuals. We still need names and DOBs for all trustees or officers.
• If the Charity is set up as a trust and the settlor is alive, we need to verify them. Also, if there is a significant donor and they are still alive, we need to verify them.
• If not provided in other documentation, we need the position of the person(s) who sign the application form.
• A board resolution or equivalent detailing the powers/authority of each of the authorised signatories. We additionally need a signatory list with names and specimen signatures. For some Charities, this could be the same document, either a board resolution or signatory list, but must fulfil both requirements: specific powers/authority and specimen signatures.
• Payment from the charity’s bank account (we cannot accept payment from any other source). We can accept cheques or you can provide details on the application form to make a bank transfer; we will contact you with our bank details on receipt of the application (please do not transfer a payment to us beforehand).
• Investing in reportable assets: For charity accounts we need the charity’s LEI.

Application forms for opening an account 

You’ll find all application forms relating to Charity Accounts below. If you are sending payments to us electronically via bank transfer, applications can be submitted to us via our Upload & Send service or alternatively posted.

Other useful applications

Opening a Trust Account

The account will be set up in the name of the Trust, and the Trustees will be set up as Trustee Owners on the account. Professional trustees, such as solicitors, can use their firm's address to ensure trust investments are separate from their own accounts. Trust accounts incur the same charges as our Investment Accounts.

We require the following documentation to set up an account:

• A trust application form, in the names of all the trustees

• The Deed which established the trust and names the settlor, beneficiary and any other controllers such as protectors or appointers. Additionally, where there have been changes to trustees, the Deeds showing the changes.

• For a trust set up by Will, we will need a certified or original copy of the Will and Grant of Probate. Additionally, where there have been changes to trustees, the most up to date Deed naming the current trustees

• Identification for all trustees, the settlor, appointer or protector and any beneficiary with an absolute entitlement (If there are any difficulties providing this information please contact us for guidance).

• Individual Self-Certification for all absolutely entitled beneficiaries (including minors). This is completed within the Trust application form and is used to record tax residency information required under the UK’s Automatic Exchange of Information regulations.

• Payment from the settlor, trustees, a trust bank account or a solicitor’s client account (if acting professionally for the trust). We can accept cheques or you can provide details on the application form to make a bank transfer; we will contact you with our bank details on receipt of the application (please do not transfer a payment to us beforehand).

• Investing in reportable assets: For all bare trust beneficiaries and trustees, we need full name, date of birth, reportable nationality and national identifier. For other trusts we need the trust’s Legal Entity Identifier (LEI).

• The HMRC Certificate of Registration will be needed unless the Trust is exempt.

Application forms

You’ll find all application forms relating to Trust Accounts below. If you are sending payments to us electronically via bank transfer, applications can be submitted to us via our Upload & Send service or alternatively posted.

Other useful applications

Additional support material for Trusts

Here you find guides for the various types of trust accounts that can be held on the platform along with trust deed templates and documents for change of trustees.

Yes, we offer the option of investing on behalf of a child through a trust. If your client already has a trust, we can set up an Investment Account in the name of the trust. You can find how to do this in the section above. If your client does not already have a trust, they have the option of setting up an account using our Bare Trust for a child.

Clients also have the option of opening a Junior ISA or a Junior Pension for a child. If the client would prefer to retain ownership of the investments but simply earmark them for a child's benefit, they may prefer to open an Investment Account with a designation that mentions the child.

Yes, please complete the  Change of trustees form.

This is an online process. Please go to ‘Actions’ within Client Summary to switch and rebalance trust investments.

All trustees must sign the top up form. Alternatively, if we have a completed Joint Holder Special Renunciation form signed by all account holders on record, the instruction can be signed by one trustee.

You can place the sell instruction online and print out a paper form for all the trustees to sign, unless we have a completed Joint Holder Special Renunciation Form. We will carry out the instruction when we have received the form. We can make the payment to any of the trustees or to the trust bank account. In some cases, we may need to see identification verification documents.

We require all trustees to sign unless we have a completed Joint Holder Special Renunciation Form. The purpose of this form is to authorise any one trustee to sign on behalf of others.  In all cases, the trustees must decide if the Trust Deed permits the delegation of authority in this way. Please note, this does not apply to Pension Trusts as this may be incompatible with Scheme Rules.

Not necessarily. Designations are a way for your clients to personalise their accounts. The question of whether an account is held in trust or not depends on the arrangements it was established under and whether the investments are intended as a gift.

Adviser Fees serviceOnce an account is set up, you can manage all fee payments online, including Adviser Ongoing Fees and Adviser Specified Fees, through our Adviser Fees service.

Yes. You can find out all you need to know about setting up and managing model portfolios and using defined models from Discretionary Fund Managers here.

You can access the account under the companies and trusts account search. You can view the account and place the following deals: Switch, rebalance, sell to pay specified fee, illustration and manage fees. The sell option will produce a manual form which you will need to print, sign and send to us via our Upload & Send service.

Below is a table showing what access is available to trusts, pension trusts and companies/charities:

Yes, Product Cash Account (PCA) and a Cash Management Account (CMA) are available where relevant (the exceptions are for some pension trust accounts where there is an external pension account manager and for offshore bond accounts held with Canada Life and Utmost).

Yes, please ensure we have a record of the required identifiers for investing in reportable assets, see account opening instructions above for more details.