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How Embark compares

Here we give a high level summary of how the Embark platform compares to Alliance Trust Savings.

We understand you will want to complete your own assessment of whether the Embark platform is right for you and your clients. The information here is offered as a starting point. Our Understanding your new service client guide also contains additional information you may find useful.

ACCOUNTS

Available Account types

Alliance Trust Savings Embark Platform
Adult Accounts Adult Accounts
Individual Savings Account (ISA) Individual Savings Account (ISA)
Pension (SIPP Account) Pension (Personal Pension Account)
General Investment Account (GIA). This can be held in joint names, and by corporates, charities and trusts. General Investment Account (GIA). This can be held in joint names, and by corporates, charities and trusts (including pension trustees). It can be designated in any way, including to a child.
Child Accounts Child Accounts
Junior ISA Junior ISA
Pension Pension
First Steps GIA. The adult is the legal and beneficial owner, but the Account is designated to a child. Embark do not offer this type of Account. An adult GIA can be designated to a child.
Key Facts Key Facts

If your client holds a Pension Account

  • Moving to the Embark Platform will mean your clients become a member of a new pension scheme (Embark Personal Pension, PSTR Number 00812401RB) with a new set of Trustees.
  • Flexi-access drawdown, PCLS and ad-hoc UFPLS are all available as income options for your clients with the Embark Platform. Income changes and requests can be processed in real-time, with no need for paper forms or wet clients' signatures, and payment sent the same day.
  • The legacy capped drawdown option will be available by the time your clients' Accounts move over.
  • A fully integrated payroll means that after the move you will be able to select any day of the month from 1st to 28th for future regular income to be paid.

cash and investments

Currently with Alliance Trust Savings, you and your clients have the choice of two propositions Funds and Funds Plus. With Embark you will have one clear proposition managed on premium FNZ technology. This means all your clients will have the same choice of investments available to them.

The Embark Platform is open architecture for investments and has a comparable range to Alliance Trust Savings. Other than in a few exceptional cases, of which we would notify you well in advance should any of your clients be affected, we will be able to move your clients’ existing investments over.

Alliance Trust Savings Embark Platform
Interest on cash? Interest on cash?
Not at present. Not at present, this is reviewed regularly.
Investment types available Investment types available
Funds Funds
UK-listed Investment Trusts UK-listed Investment Trusts
UK-listed ETFs UK-listed ETFs
UK Gilts and UK-listed corporate bonds UK Gilts and UK-listed corporate bonds
UK-listed stocks and shares UK-listed stocks and shares
Third party model portfolios? Third party model portfolios?
Yes. A number of Discretionary (DFM) Model Portfolios are available within the Funds proposition. Yes, a number of Discretionary (DFM) Model Portfolios are already available and have the ability to hold Funds and ETFs (traded fractionally).
An Account using a DFM model portfolio must be wholly invested in that model. An Account using a DFM model can also invest in other assets outwith the model.
Adviser model functionality is available within the Funds proposition. Adviser model functionality to be available by the time your clients' Accounts move over.

Embark offer a number of options for taking investment income, all of which are automatically processed online. Investment income can be reinvested, left as available cash or taken as natural income, with the added benefit that all payments are automatically made to the client’s external nominated bank account.

CHARGES

Platform and trading charges

Embark’s charges are based on a percentage of portfolio value and are very competitive compared to other advised platforms. All new clients you add to the Embark Platform will benefit from these. Your clients' Accounts which move from Alliance Trust Savings will be charged the rates below.

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The platform charges shown in the comparison below will apply to your clients who move from Alliance Trust Savings only. For ATS clients, Embark has set a flat fee platform charge for each Account. This means that the overall cost of investment will be broadly similar to current ATS rates. A formal review of client charges will also be completed by Embark after a transitional period and anyone who has paid materially more than they would have done with ATS will receive a refund. More information will follow as part of future migration communications.

Alliance Trust Savings Embark Platform
Platform charges Platform charges
Collected in advance yearly or quarterly, see ATS Charges Guide. Collected monthly in arrears.
ISA / GIA / JISA: ISA / GIA / JISA:
ats table Embark table
All fund trades are provided free of charge. First Steps Accounts not available.
Pension / Child Pension: Pension / Child Pension:
ats table
* Adult Accounts only
Embark table
All fund trades are provided free of charge.
All prices include any applicable VAT.
Trading charges Trading charges
ats trading charges
Over and above inclusive trades.

ats trading charges
All trades for the Embark platform are completed online.
* Please note that for assets held within a third party model, the cost is £1.00 per client per trade.
Automatic disinvestment process to collect outstanding charges? Automatic disinvestment process to collect outstanding charges?
Yes, for our Funds proposition, on a monthly basis. We will follow any disinvestment strategy you have instructed us to follow in advance. If we have no such instruction from you we will sell from the largest holding downwards, prioritising daily traded investments. See clause 2 in our Terms and Conditions for Advised Business for the details. Yes, on a monthly basis. For Platform charges and your adviser charges, you can choose one of three disinvestment strategies in advance that will be followed when needed. See clause 1.13 in Embark's Client Terms and Conditions for the details of the available strategies.
For more details For more details

Collecting your charges

The Embark Platform offers the same adviser charging options as Alliance Trust Savings and its automatic disinvestment process is also used to recover outstanding adviser charges.

Alliance Trust Savings Embark Platform
Available adviser charge types: Available adviser charge types:
Initial Initial
Ongoing Ongoing
Ad-hoc Ad-hoc
Collection date Collection date
6th day of each month Monthly adviser charging is collected on the anniversary of the ongoing charge being set up.

TOOLS AND SERVICES

The Embark Platform is built on premium FNZ technology, offering a highly automated, self-serve environment to maximise efficiency for your business. Currently over 50 processes can be completed online, with no requirement for paper or wet signatures. Its online service is also backed by a team of skilled people including BDMs and implementation managers as well as a phone-based service team.

Live webchat is also available while you’re online, giving you instant access to support. The Embark webchat team will have view only access to your screen so they can help you as quickly as possible.

Alliance Trust Savings Embark Platform
Client onboarding Client onboarding
MiFID compliant illustrations MiFID compliant illustrations
In many cases, no wet signature required In most cases. no wet signature required
Managing client Accounts Managing client Accounts
Increase / decrease contributions Increase / decrease contributions
Buy / sell or switch investments Buy / sell or switch investments
Set up new products Set up new products
Manage income options Manage income options
Set up and administer drawdown Set up and administer drawdown
Management tools for you Management tools for you
Client and MI reporting Client and MI reporting
Automated income management and reinvestment options (for funds and listed securities) Automated income management and reinvestment options (for funds)
Morningstar investment research tools Investment research tools and services are being developed. Further updates will be available soon.
DT risk profiler The Embark Platform doesn't currently offer this third party tool.
Back office links with Iress and Intelliflo Back office links with Iress and Intelliflo will be available by the time your clients' Accounts move over.
Ability to set up and manage your own model portfolios. Functionality allowing you to set up and manage your own model portfolios will be available by the time your clients' Accounts move over.
Access for clients Access for clients
View only and for trading too if required. View only. Trading access will be available by the time your clients Accounts move over.
For more details For more details

FSCS COVERAGE

There will be a difference in the way Financial Services Compensation Scheme (FSCS) coverage works for cash on the Embark Platform compared to with Alliance Trust Savings.

Alliance Trust Savings Embark Platform
Authorised by the Prudential Regulation Authority (PRA) to accept cash deposits. Holds cash in trust by a bank, separate from Embarks own cash, under the Financial Conduct Authority’s (FCA) client money rules.
Holds your client’s cash as a bank. Deposits with one or more banking partners authorised by the PRA, regulated by the FCA and covered by the FSCS.
If unable to meet its obligations, clients entitled to compensation under the UK Deposit Guarantee Scheme part of the FSCS. If banking partner unable to meet its obligations, clients may be eligible to make a claim for compensation under the FSCS.
Investments are held by a separate nominee company to ATS. If unable to meet its obligations, clients may be entitled to compensations under FSCS. Investments are held by a separate nominee company to Embark. If unable to meet its obligations, clients may be entitled to compensations under FSCS.

STILL HAVE QUESTIONS?

If you have questions you can’t find the answer to here or in the Questions and Answers and Important Documents pages, our support teams would be happy to help. You can email us at advisersupport@alliancetrustsavings.co.uk or call us on 08000 326 323. Lines are open 8am to 5pm Monday to Friday and calls may be recorded for training and monitoring purposes.

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GET AHEAD: REGISTER WITH EMBARK NOW

Registering now confirms to us that you accept the upcoming move on your clients’ behalf and means we can set you up in advance, so you’ll be ready to continue serving them from day one.

Register now