Where can I find application and sales paperwork?
All documentation can be found in our Downloads section.
How can an adviser access the platform?
New users - If you are registering with us for the first time, you will be asked to complete the online access form found in the advisor downloads section. We will then set you up with the appropriate permissions and you will receive an email containing an enrolment link. A text message will be sent to your registered mobile number. If you still do not receive the text message, please download ‘Authy’ app form your app store.
Existing users moving to the new platform - We will send you an email containing an enrolment link. Please ensure you have your existing User ID and the mobile phone number we hold for you is correct, as our new two-factor authentication process means we will send a security code to that number. If you do not receive the text message, please download ‘Authy’ app from your app store.
Do clients receive online access to their portfolios?
Clients will have their own online access, if they have completed the relevant section within the client application form. Please note clients will not have access to place their own trades.
My client has transferred money to the platform, how long until it shows on the portfolio?
Once the money reaches our CITI Bank client account and assuming all new business requirements have been met, cash will show on the portfolio in 48 hours. An email will be sent to the adviser when the money has been credited.
How can a client add additional funds to the platform?
If a client is adding additional money to the amounts mentioned on the original application, Millenium Investment will require an additional investment form which can be found in our Downloads section.
Can I add a beneficiary to my account?
Millenium Investment offers a free Beneficiary Trust, this form is available in the Downloads section.
How do I view transaction history on the platform?
You are able to view transaction history by clicking the ‘Cash Transaction’ tab. You are able to filter specific dates and export to Excel. You can also view all transaction data within the valuation.
How are fees deducted from the portfolio?
The Millenium Investment Custody fee and Annual Advisor fee are accrued daily and collected on the last working day of each month.
Dealing fees and Advisor Bid/Offer fees are deducted from the portfolio when a trade completes.
When are adviser fees paid?
Adviser fees will be paid monthly, normally on the 10th of each month for all transactions within the previous month.
How do I create a client portfolio valuation?
Click the ‘Download Valuation’ on the chosen client’s portfolio that is located under the current investments tab.
Where can I view the performance of my funds?
Click the ‘Download Valuation’ tab. This will enable you to view a PDF detailing the performance and transaction history.
Is there a minimum cash retention on the platform?
3% cash retention must be kept in the chosen base currency for fees.
Why is my available cash lower than my cash account balance?
Your available cash is inclusive of any pending FX/Trade deals or the 3% cash retention.
Who can place trades?
As Millenium Investment is an advisor led platform, only authorised users within an advisor firm have the ability to place trades.
How do I see a list of assets currently available on the platform?
You can view all of our available assets in the Downloads section.
How do I add an asset to the platform?
When placing a trade if you cannot locate the asset you are looking for please click the ‘can’t find asset’ tab in the dealing screen, this will allow you to submit the details to our assets team.
How long will it take for an asset to be added?
3 working days, this is dependent on whether third parties are engaged, if so, it may take longer.
Is the price I see for an asset live?
Prices are imported daily. This is the price used for valuation purposes only.
What does the trade status mean?
Pending Authorisation – awaiting for the trade to be authorised before being submitted to Millenium Investment.
Placed – Millenium Investment dealing team have placed the trade with the counter-party.
Completed – Trade has settled, contract note has been received and uploaded to the system
Why can’t I see a trade I placed ?
If the trade was pending authorisation prior to the 27/8/2020 5pm cut off it will not appear on the new Millenium Investment Platform and will need to be re-keyed. Only trades placed and authorised will appear on the new Platform.
How long does an asset take to settle?
Funds - Settlement varies from 3 - 6 days from the date the trade was placed. The pricing date of the fund will affect the settlement period.
Equities - Settlement period is normally 2-3 working days from the date the trade was placed.
Notes - A note will remain as Pending until the strike. Typically, a contract note will be received 7 working days after the Strike date, but this will vary in line with the trading process of the issuer.
How long does an FX take to settle?
Current switches between GBP, USD, EUR, CAD will settle within 15 minutes of being placed.
Currency switches to or from any of the following currencies CHF, HKD, SGD, AED, AUD, ZAR, JPY will take T plus 2 working days to settle.
What rate do I get for the foreign exchange?
For an FX below £250,000 or currency equivalent the rate will be provided by the platform at the time of trade. For trades exceeding £250,000 a rate will be confirmed by Millenium Investment when the trade has been placed.
Do I need to place an FX trade before buying an asset?
To place a trade on the platform you must have enough available cash in the correct currency before placing a trade, therefore an FX may be required first.
I have made a mistake on a trade, am I able to amend this?
Trades will normally be automatically sent through to the market, so if you have made an error on a trade, you will need to send in a correction entry.
How do I link a client to a Model Portfolio?
Each company will have a designated model manager who will have sole responsibility to create, manage and link portfolios to a model. Please refer to the Model Portfolio Guide for further details.
When a client has added additional funds will these be automatically added to the Model Portfolio?
Where a portfolio is linked to a Model any new money added, will automatically purchase the model by rebalancing the portfolio. Please refer to our Model Portfolio Guide for further details.
How do clients make a withdrawal?
Firstly assets may need to be sold to ensure enough cash is available in the portfolio and in the correct currency to be paid out. If the assets are not in the correct currency you will need to place an FX.
A client will need to complete the Withdrawal Form. This can be found in the Downloads section.
If a client’s bank details were not given to us during the application stage, a copy of a bank statement evidencing the clients account would need to be provided.
As per the pricing schedule a banking cost per payment of £5 or currency equivalent is deducted from the portfolio.
Please note that all trades are required to fully settle before a withdrawal can be made.