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Platform FAQs

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Are distributions and natural income generated by assets paid Gross or Net

We automatically pay gross for asset groups that moved to paying gross income following the change in tax rules from April 2017. For asset groups still issuing dividends net of tax, we make gross payments to your clients. We then reclaim the tax from HMRC on both the ISA Portfolio and the Pension Portfolio.

Are non-UK currency assets available on the platform?

No, we only offer sterling denominated assets.

Can CHAPS be used for pooled account payments?

CHAPS payments may be unsuitable for pooled accounts due to some banks requiring specific customer details in order to allocate to the correct customer.

You can select BACS as the method of payment instead.

Can I select a specific asset within a model portfolio for disinvestment to pay fees and charges?

No, this isn’t possible. Fees are deducted from product cash where there is enough cash available to cover the charges.

Where there isn’t enough product cash, disinvestment will trigger proportionally across a client’s portfolio.

Can I select a specific asset within a model portfolio for disinvestment to pay income?

No, you can’t select specific assets (including model cash) to disinvest to pay income. The system will disinvest proportionately across the portfolio.

If you want your client's withdrawal to be made from product cash, please make sure you specify this as part of the regular withdrawal process or edit existing regular withdrawals on the system.

Can I trade on an individual asset within a model?

Our model portfolios are effectively treated as a “Fund of Funds” which means all individual assets within the model can only be traded at that model level. To amend the assets within a model simply use the “edit” function to edit any existing portfolio to make the necessary changes.

To amend a model on an individual client basis use the copy function to create a new model and make the necessary changes. The client can then be switched into the new model.

Can you accept an inherited pension to a beneficiary who isn’t a UK resident?

Unfortunately we cannot accept an inherited pension from a non-UK resident.

Can you explain the difference between 'product cash' and 'model cash'?

'Product cash' means any cash held in the product Cash Account.

'Model cash' is cash held in a model portfolio. A model portfolio is treated as an asset in its own right. It can be added to the account’s asset allocation, where a percentage is specified. You can have all of the account invested in the model, or just a portion. You can also assign more than one model to an account. Any cash allotted to the model is there for asset allocation purposes and can't be used to fund charges and withdrawals. Where there is no product cash available within the account, the system will sell down proportionately from the model assets.

Do I need to ensure money is held in product cash to pay fees (i.e. 2%) and only invest 98% into a model?

We do not insist on a set amount of cash to be held as product cash, but this is a good approach to prevent disinvestment occurring from a model portfolio.

However each firm must make their own choice on cash allocation, whether Product or Model Cash.

Does the platform pre-populate information?

Yes, you can pre-populate applications from a quote. We’ve also streamlined online existing business processes, designed to save you time. 

How are model portfolio deposits and withdrawals treated?

You can choose whether:

  • you want these handled so that the platform proportionately splits across all assets or
  • you want this to happen disproportionately for those assets furthest from target allocation.

Because this is set at model level, if you want to treat two clients differently, you'll need to create two different versions of the model portfolio.

How can corporate clients, trustees, Power of Attorney clients or adviser-branded clients access their account?

Corporate clients, trustees, Power of Attorney clients and adviser-branded clients can contact our Platform Services team to set up their platform access:
0800 056 2026

How can I keep track of transfers?

The transfer tracker, which can be accessed via the Platform Services tab, will give you the latest updates on the status of your clients' transfers.

How can I move multiple clients from Model A to Model B?

You can move multiple clients via the ‘Platform Services’ tab and then clicking on the “Bulk Switch” icon.

You will need to select the model to switch from and to, and any clients to exclude.

This process will use the Smart Switch process to prevent common assets being sold and re-bought.

How can my client register for MyAviva?

To register, please ask your client to visit our customer site .
They'll need to register using an activation code (if they've been sent one). Otherwise they can simply use their AV policy number.
You can find your client's AVXXXX account number by going into 'Platform Services', and generating a 'client by adviser report' under 'Business reporting'.

There's also a client MyAviva user guide.

How do I print a transaction confirmation?

You can downloaded an Excel spreadsheet, which can be accessed from the transactions history page (top right-hand corner).

How do I print off details of my model portfolios?

There is currently no functionality to print details of model portfolios, but you can screen-print the page using 'Ctrl+Print Screen' or 'Ctrl+P'.

How do I tell if a bulk rebalance is in progress? And how do I know the online instruction is actioned?

The way to validate they have been completed is to wait for the unit statement to show within the client correspondence section (usually T+4). If you are moving from a Model to another Model the model name will change on the next business day.

How do Managed Portfolio Service fees work?

Your client will only pay charges for the assets held in each model, regardless of the total value of the portfolio. You can hold multiple models within a single wrapper, mixing and matching between your own and those managed by a Discretionary Investment Manager. All of this gives you and your clients greater flexibility over investments.

How do you find models?

Your model portfolios can be located via the ‘Platform Services’ tab and clicking on ‘Model Portfolios’. Only adviser-created models are accessible through ‘Platform Services’ and any Discretionary Investment Manager (DIM) models will be visible when running an illustration.

When completing a quote, all available model portfolios (including DIM models) can be found at the asset selection stage.

If I’m selling down assets from an Investment Portfolio to fund an ISA Portfolio, when is the cash available for use?

The cash will be available for use once the trade is settled.

If there is a trustee on a case, would both the trustee and the client be able to view the platform online?

Yes, you can give both of them access on a read-only basis. You will be able to set this up with your regional support team.

What bank details should I use?

For Pension Portfolio payments in (excluding transfers):
Aviva Pension Trustees UK Limited Client Money Collection
Sort code: 40-02-50
Account number: 01357689

For Pension Portfolio transfers in:
Aviva Pension Trustees UK Limited Client Money Transfer
Sort code: 40-02-50
Account number: 21357719

Investment Portfolio and ISA Portfolio payments in (excluding transfers):
Aviva Wrap UK Limited Client Money Collection
Sort code: 40-02-50
Account number: 21357735

Investment Portfolio and ISA Portfolio transfers in:
Aviva Wrap UK Limited Client Money
Transfer Sort code: 40-02-50
Account number: 61357751

What do I do if my client has a regular payment in place and I wish to trade between models?

Please redirect the regular contribution before trading.

If purchases are in process you may want to wait for these to settle before processing the switch.

Please note, we have had isolated reports that this generates a new Direct Debit advance notification, however there is no impact on the client.

What if my client has problems with MyAviva?

Your client can call our MyAviva helpdesk on 0808 1010 860 or email myaccount@aviva.com.

What is Smart Switch and when does it work?

The Smart Switch process was introduced on the Aviva Platform to prevent common assets being sold and re-bought when switching between models. Smart Switch will only work with model to model trades. If the trades include individual assets this will be carried out as a standard switch.

What is the Bank Holiday process for adviser charging and remuneration statements?

Where a Bank Holiday falls on a Monday, calculations will run one business day earlier (i.e. Friday).This means that adviser charge fees will be calculated for Tuesday-Friday (and not Tuesday-Monday as usual) and statements will be generated on Saturday morning. BACS payments will be triggered on the Tuesday following the Bank Holiday Monday, as usual, and paid from Thursday to adviser bank accounts.

The following week’s remuneration calculation and statement run will therefore cover the period Saturday (before the Bank Holiday) to the following Monday due to the previous week’s truncated calculation. BACS files will be triggered on the Tuesday for payment from Thursday as normal.

What paperwork do I need for client and income drawdown declarations?

Please visit the Aviva Platform training hub where you will videos and guides that provide details of our signature-lite process.

What products are available on the Aviva Platform?

See our product pages

What training and support do you offer for the Aviva Platform?

There's a wide range of training materials, including videos and guides, on our training hub. We recommend you bookmark this page for future reference.

When are phased income payments made if the due date is a non-working day?

Where a client is receiving phased income and the due date falls on a non-working day the income will be paid on the next available working day.

For example if a payment is due on 21st April 2018, which falls on a Saturday, the payment will go out on the 23rd April 2018, the following Monday.

Please note this only applies for phased income payments. For all other income types, where the due date falls on a non-working day, we'll make the payment on the last working day before the due date.

Which browser works best with the platform?

Chrome is the recommended browser, but the Aviva Platform works with most up-to-date browsers including IE 11.

'Why can't I see all of the models available from a Discretionary Investment Manager?

Permission to a model is granted on a model by model basis. If you cannot see the model you want to invest in, it may be that you have not got permission to the model. You will need to contact the Discretionary Investment Manager for them to grant you permission.

Why do my model portfolios have ‘none’ in the title?

The 'none' refers to the fact that there is no rebalancing set on the model.

Why do my quotes time out?

Occasionally quotes can take a while to load due to the number being produced within the system. Try pressing the F5 key, in some cases the illustration then generates without having to wait.

Why do quote and illustration PDFs not upload?

Occasionally quotes can take a while to load due to how many are being produced within the system. Try pressing the F5 key, in some cases the illustration then generates without having to wait.

Why doesn’t a rebalance show on transaction history?

We know that rebalances are not currently reflected clearly on transaction history. The underlying trades are going through as expected and rebalances are working correctly.

We will look to make improvements to the transaction history once critical issues have been addressed.

Why is there no information on the ‘free text’ part of the transfer tracker?

Free text is controlled by the Aviva operations team who can override the standard text. This is used to provide more case-specific notes.

Will Aviva use MyAviva to cross-sell other products to my clients?

Aviva is committed to working with advisers and we encourage clients to discuss their policy and future financial needs with their advisers. We won’t cross-sell any products that you already help clients with.

Find out more about MyAviva

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WA05129 02/2018