Following the acquisition of Quilter International by the Utmost Group in December 2021, we have been working on a programme to transition the administration of data and systems from the Quilter International UK system infrastructure to the Utmost Group system infrastructure.
The purpose of this communication is to update you on:
- How the transition will affect services provided
- Cut-off dates for some transactions
- Dates planned for reduced services via our extranets: Wealth Interactive (WI) for Portfolio Bonds and the Online Service Centre (OSC) for Heritage products
This system infrastructure is used to administer ex-Quilter International Isle of Man policies, now held with Utmost International Isle of Man Limited, ex-Quilter International Ireland policies, now held with Utmost PanEurope dac, and ex-Old Mutual International (Guernsey) Limited policies, now held with Alpha International Life Assurance Company (Guernsey).
Data and systems in the Utmost Group which are not part of the Quilter International UK system infrastructure will not be impacted by these changes.
All times stated below are in British Summer Time (BST)/UK time.
This programme of activity will take place between 5pm Friday 20 October 2023 and midnight Tuesday 24 October 2023. This period of time is referred to as the transition period below.
| Deals |
Dealing instructions submitted through WI before 3pm (standard cut-off) Friday 20 October 2023 will be processed as normal. From 3pm Friday 20 October 2023 until midnight Tuesday 24 October 2023, dealing requests must only be submitted by email to: [email protected] or by fax: +44 1624 655905. Common dealing forms:
|
| Corporate Actions | We may defer processing some corporate actions and income events between Monday 23 October 2023 and Tuesday 24 October 2023 to ease administration during the transition period. Any deferred corporate actions and income events will be updated in a timely manner after the transition period, but there may be a delay in reflecting the updates in valuations. |
| New Business and Additional Premiums |
Online New Business and Top Up applications must be approved by all policyholders on WI by 3pm Friday 20 October 2023. From 5pm Friday 20 October 2023 until midnight Tuesday 24 October 2023 New Business and Top Up applications can only be submitted by email to: [email protected]. Any premiums received during the transition period will be reviewed from Wednesday 25 October 2023. |
| Policy Administration | Any instructions received after 5pm Friday 20 October 2023 will be held until Wednesday 25 October 2023 and will then be actioned accordingly. |
| Payments Out |
All regular withdrawal payments due between Monday 23 October 2023 and Tuesday 24 October 2023 will be made as normal. No other payments will be made between Monday 23 October 2023 and Tuesday 24 October 2023. Online withdrawal and surrender instructions must be approved by all policyholders on Wealth Interactive by 3pm Friday 20 October 2023 to allow processing to start before the transition period. From 5pm Friday 20 October 2023 until midnight Tuesday 24 October 2023 payment requests can only be submitted by email to: [email protected] to enable processing from Wednesday 25 October 2023. |
| Adviser Remuneration | Where remuneration is due to be paid during the transition period, we will make an appropriate payment in advance. |
| Wealth Interactive Online Services |
Wealth Interactive will not be available between 5pm Friday 20 October 2023 and midnight Tuesday 24 October 2023. Guidance for online submission of New Business/Top Up, Dealing and Payments Out instructions are confirmed in the relevant sections above. During the transition period, all other policy servicing requests can be submitted by email to [email protected]. |
| Contact Us | If you have any other questions about this communication, please contact us by email: [email protected] or by telephone, +44 1624 655555. |
Any transaction or instruction unable to be carried out on an appropriate day will be actioned at the next available opportunity, with no detriment to the policyholder.
The changes
Following the acquisition of Quilter International by the Utmost Group in December 2021, we have been working on a programme to transition the administration of data and systems from the Quilter International UK system infrastructure to the Utmost Group system infrastructure.
This system infrastructure is used to administer ex-Quilter International Isle of Man policies, now held with Utmost International Isle of Man Limited, ex-Quilter International Ireland policies, now held with Utmost PanEurope dac, and ex-Old Mutual International (Guernsey) Limited policies, now held with Alpha International Life Assurance Company (Guernsey).
Data and systems in the Utmost Group which are not part of the Quilter International UK system infrastructure will not be impacted by these changes.
The OSC is not a system that was created by Quilter International and so there is no requirement to make this unavailable during these changes. As data is transferred from former Quilter International systems to populate OSC and those systems will be unavailable during the downtime, OSC will only be providing static valuation data for that period of time.
Your experience and functionality will remain the same.
No enhancements or changes are being applied during this downtime.
Unfortunately this data migration can only be completed over a 4 day downtime due to the complex nature of the migration.
Communication
We placed an “Important Service Notice” on the sign-in page for Wealth Interactive, 30 days ahead of the changes being implemented and provided a broadcast message within Wealth Interactive. In addition, we issued an email to advisers regarding the changes on Thursday 21 September which included information regarding Wealth Interactive availability. Read email.
We placed an “Important Service Notice” on the sign-in page for Wealth Interactive, 30 days ahead of the changes being implemented and provided a broadcast message within Wealth Interactive.
We placed an “Important Service Notice” on the sign-in page for Wealth Interactive, 30 days ahead of the changes being implemented and provided a broadcast message within Wealth Interactive.
We placed an “Important Service Notice” on the sign-in page for Wealth Interactive, 30 days ahead of the changes being implemented and provided a broadcast message within Wealth Interactive. Fund advisers were included as part of the financial adviser email communication sent on Thursday 21 September. Read email.
Money In
You will not be able to obtain an illustration during this downtime but as soon as Wealth Interactive is available, you will be able to create illustrations again and you can use those as the basis for an application.
New Business and top up applications can only be submitted by email to: [email protected]
It will be reviewed from Wednesday 25 October 2023.
Dealing
Dealing requests can be submitted by email to: [email protected] or by fax: +44 1624 655905.
Dealing instructions submitted through Wealth Interactive before 3pm BST (standard cut-off) Friday 20 October 2023 will be processed as normal.
Yes, the transaction will be updated using the correct price.
Money Out
A. All regular withdrawal payments due between Monday 23 October 2023 and Tuesday 24 October 2023 will be made as normal.
Payment requests can only be submitted by email. Please use [email protected] to enable processing from Wednesday 25 October 2023.
Payment requests can only be submitted by email. Please use [email protected] to enable processing from Wednesday 25 October 2023.
Payment requests can only be submitted by email. Please use [email protected] to enable processing from Wednesday 25 October 2023.
Servicing
Online withdrawal and surrender instructions must be approved by all policyholders on Wealth Interactive by 3pm BST Friday 20 October 2023 to allow processing to start before the transition period.
During the transition period, all other policy servicing requests can be submitted by email to [email protected].
During the transition period, policy servicing requests can be submitted by email to [email protected].
Where remuneration is due to be paid during the transition period, we will make an appropriate payment in advance.
General information
Please contact us by email [email protected] or by telephone, +44 1624 655555. Please note that the valuation date will be Thursday 19 October 2023.
Please contact us by email [email protected] or by telephone, +44 1624 655555. Please note that the valuation date will be Thursday 19th October 2023.
To request contract notes during the downtime please email [email protected].
We are unable to send these statements whilst Wealth Interactive is unavailable. When Wealth Interactive is available, the quickest way to obtain the statements will be via the “Documents” section on the homepage of Wealth Interactive.
Registration emails which have been sent before the system is unavailable and which have not been completed will no longer be available when Wealth Interactive is available again.
We will send a new registration email once Wealth Interactive is available to anybody who was sent a registration 30 days prior and had not completed the registration.
Yes, there will be no change to this functionality and reports can be requested as soon as Wealth Interactive is available again.