For adviser use only.
Where we refer to ‘we’ or ‘us’, we are referring to Timeline Platform, provided by Timeline Portfolios Ltd, which is authorised and regulated by the Financial Conduct Authority (number 840807).
Where we refer to ‘you’, we are referring to the adviser.
Timeline’s Junior ISA Account Adviser Guide
This guide is for information on opening and servicing of the Timeline Junior ISA (JISA) only. For information relating to the product specifics including aims, risks, commitments, and fees, please refer to the Timeline JISA Key Features document available on the Timeline website.
How do I open a Timeline JISA for my client?
A Timeline JISA can be opened via the client onboarding web journey. All deposits, Direct Debit instructions and transfers can be submitted via this journey.
Does the JISA require a Registered Contact?
Yes, until the child is 18 years of age, a JISA will require a Registered Contact. This individual must be a parent or legal guardian of the child and a UK resident for tax purposes or is a UK Crown servant or dependant of a UK Crown servant.
The Registered Contact is effectively the client for servicing purposes until the child turns 18.
Can I change the Registered Contact?
Yes, this can be actioned on request. Please contact us at [email protected] for more information.
The JISA account holder can also apply to become their own Registered Contact between the ages of 16 and 18. To do this, please contact us and we will provide the required form to complete. Please note, the same verification requirements will apply as when the client turns 18 and the JISA matures into an ISA. Details of these requirements can be found under the 'What happens when the client turns 18?' question in this document.
Can anyone contribute to a client’s Timeline JISA?
No, currently we will only accept contributions (either ad hoc or regular) from the Registered Contact’s designated bank account.
Do you accept Direct Debit instructions?
Yes, a Registered Contact can make Direct Debit payments into the client’s JISA. This can be setup via the client onboarding journey.
Please see the Direct Debit adviser guide for more information.
Can I transfer my client’s existing JISA to Timeline?
Yes, a client’s Stocks and Shares or Cash JISA product(s) can be transferred from another provider to Timeline. The client has the option to transfer their entire current year's JISA, a portion of or all of a previous year's JISA, or their entire JISA to Timeline, so long as the transfer adheres to JISA regulations and the current JISA Manager consents to the transfer.
Though Timeline has no charge for transferring a JISA product in or out, for transfers in, the existing JISA manager may have charges associated with encashing or transferring the plan. Please enquire with the existing provider before instructing a transfer on your client’s behalf.
Can my client make one-off payments into the Timeline JISA?
Yes, the Registered Contact can make a single deposit payment into the client’s JISA.
Please note, if the Registered Contact makes a payment to us without the instruction having been submitted by the adviser first, our Platform Operations team will contact you to submit this prior to the payment being processed.
Is the entire Timeline asset universe available within the Timeline JISA?
Yes, all funds and stocks within Timeline’s asset universe are available within the JISA.
For a full breakdown of asset and investment types available, please refer to the Timeline ISA Key Features document.
How do I manage my client’s JISA?
All servicing options are available via the Adviser Portal. For specific instructions on how to submit a particular instruction, please refer to the ‘How To’ section of the Adviser Portal.
Is Bed and JISA available and how do I instruct this?
Yes, for Registered Contacts who hold both a General Investment Account (GIA) and JISA, you can submit a ‘Bed and ISA’ process via the Adviser Portal. For guidance on this, please refer to the ‘How To’ section of the Adviser Portal.
Please note, there may be some capital gains considerations when selling from assets held within a GIA to fund a client’s JISA.
Can my client hold a model portfolio in their JISA?
Yes, for advisers subscribed to Timeline’s DFM service, the full selection of Timeline portfolios are available to JISA clients. If you don’t currently use the DFM service, you can find more information on the Timeline website.
Can I use a third party DFM/Model Portfolio in my client’s JISA?
No, currently only Timeline portfolios are available.
Can funds be withdrawn from my clients JISA?
No, until the client is 18 years old, funds cannot be withdrawn from the JISA except under exceptional circumstances. Please contact us if you require more information.
Can I setup adviser fees on a client’s JISA?
Yes, please refer to the Adviser Fees guide for more information.
What happens to my clients JISA in the event they die?
In the event your client dies, please refer to the Deceased Clients guide.
What happens if my client moves abroad?
It is the responsibility of the Registered Contact or yourself to notify us if they moved abroad.
Once the client has moved abroad, they will no longer to be able to access their JISA until such time as they return to the UK. On return, we will need to successfully verify them as being at a UK address with a UK bank account before servicing can continue.
Can my client transfer their JISA to another provider and are there any charges?
Yes, your client can transfer their JISA account to another provider. We will action this on receipt of a valid instruction from the new provider.
There are no charges for transferring a client’s JISA to another provider.
What happens when the client turns 18?
When the client turns 18, the JISA will automatically graduate into an ISA and the Registered Contact will be removed. Any active Direct Debit instructions will also be cancelled.
At his stage, the client will have the following options available to them:
Remain on the platform – To remain on the platform, we will require that the following actions are completed:
· We will carry out a full KYC and bank account check in line with our AML policy. We may require identity verification documents be provided in the event we cannot successfully verify the client.
· We will request and update any additional mandatory client details which include the national insurance number and a contact email address.
· We will provide the client with the Timeline platform terms, and the ISA declaration and terms which the client will need to accept.
Leave the platform – For the client to either withdraw or transfer out their ISA, we will require the following actions completed:
· We will carry out a full KYC and bank account check in line with our AML policy. We may require identity verification documents be provided in the event we cannot successfully verify the client.
· We will request and update any additional mandatory client details which include the national insurance number and a contact email address.
· Receive an instruction from the client to withdraw the balance of the ISA account to their nominated bank account.
· Receive a valid transfer out instruction from an alternative ISA provider.