For adviser use only.
Where we refer to ‘we’ or ‘us’, we are referring to Timeline Platform as 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.
What are the Model & 'Flex' Accounts?
On Timeline Platform, all wrappers are intelligently divided into 2 accounts - one for your model portfolio, and one for everything else - the 'Flex' account.
Do I have to open these myself?
When you add a new wrapper or product to a client's account, they will automatically have both a Model and Flex account opened. You don't need to open both accounts yourself.
Why are wrappers on Timeline Platform split into two accounts?
Wrappers are split into two accounts on Timeline Platform to remove some of the headaches associated with holding model portfolios alongside other assets or cash found on other platforms. This structure removes the need to hold a cash buffer, ringfence cash, set up sub-wrappers, or risk inadvertently rebalancing assets you didn’t wish to sell into a model.
Can I open more than one Model or Flex account per wrapper?
Currently, you can only have one model pot per wrapper, but we will offer the ability to open more than one if you wish in the future. As you can hold any asset (as long as it’s in our asset universe) and cash in the ‘Flex’ account, you’ll only ever need one of these accounts per wrapper type.
Can I specify which account I want to transfer into?
Yes, when instructing a transfer into Timeline Platform, you can specify whether you want to the cash or assets to go into the Model or Flex Account.
What happens upon transferring into each account?
A cash transfer into the model pot will lead to the cash being invested into the model. An in-specie transfer into the model pot will lead to any assets which match the model being retained but any which don’t being automatically ‘swept’ into the Flex account.
In-specie and cash transfers into the Flex account will simply remain in the Flex Account in the state they were received. You can sell down assets and move money into the model pot from there as and when you want to.
Can I deposit into a specific account?
Yes - like transfers, you can specify deposits to either go to the Model or Flex account. Deposits into the Model account will be automatically invested in line with the asset allocations of your chosen model.
How does this work for transfers out?
As each account has it’s own Account ID and this reference is what the electronic transfer systems (Origo & ATG) use, you will need to instruct two transfers to transfer the wrapper out fully should you wish to.