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When advisers onboard a client to Platform, a cost illustration is generated as part of the process.
That illustration should reflect the retirement strategy being discussed. Where there is a gap between the intended structure and what the projection shows, it can create unnecessary friction during decision-making.
We have introduced enhancements within the onboarding journey to support more accurate modelling of drawdown scenarios and flex account allocations.
These updates include enhancements to the existing Withdrawals page and two new pages: Crystallisation Intents and Assets in Flex Pots.
Reflecting Existing Drawdown Arrangements
Where a client is transferring an existing crystallised pension, income expectations are typically already established.
Transferred crystallised assets are held in a dedicated drawdown account on Platform. During onboarding, advisers can set income on the Withdrawals page, which:
- Populates the illustration
- Automatically enables the income once the client is live
The objective is for the illustration to reflect the client’s current drawdown position without requiring post-transfer adjustment.
Modelling Future Crystallisation Intention
For accumulation pensions where staged crystallisation is expected, advisers can now model this during onboarding via the Crystallisation Intents page.
Advisers can add:
- Flexi-Access Drawdown (FAD) events
- Uncrystallised Funds Pension Lump Sum (UFPLS) events
- Ad hoc or monthly crystallisation
If a FAD event is included, income from the resulting drawdown account can also be illustrated.
These entries populate the projection to show the anticipated impact. Crystallisation and related payments are executed only after onboarding has completed.
To summarise:
- The Withdrawals page reflects and activates income from transferred drawdown accounts
- The Crystallisation Intents page allows future crystallisation to be illustrated during onboarding
How It Works
Withdrawals page showing drawdown income entered during onboarding.
Illustration example showing the projected impact of crystallisation events.
A short walkthrough of the functionality is available here:
https://www.loom.com/share/0a7f3f38db584975b2ffd809559b8164
Illustrating Intended flex account investments
Where a Flex account is funded by an in-specie or cash transfer, assets can be illustrated during onboarding to reflect the intended investment structure. This can be done by adding assets and their allocations to the relevant accounts.
If assets are not transferred in-specie, the corresponding purchases will need to be placed once the transfer has settled. The benefit is visibility at the advice stage.
Why This Matters
Illustrations form part of the onboarding discussion. Ensuring that they reflect the intended retirement structure supports clearer conversations around drawdown, crystallisation and portfolio construction.
If you would like to see how this operates in practice, arrange a Platform demonstration with your Regional Representative.
