We're making it easier to set up accounts for beneficiaries, with the ability to open Beneficiary portfolios directly in Portfolio Builder.
What's changing?
We’re making it simpler to set up accounts for beneficiaries. From May, you’ll be able to open Beneficiary portfolios directly within Portfolio Builder, regardless of the beneficiary's age.
You’ll be able to create a Beneficiary FIA portfolio and record whether the deceased client was over or under 75, all in one place.
When is this happening?
This enhancement is expected to be available from 7th May 2026.
What's the customer impact?
Setting up beneficiary accounts will be quicker and more streamlined, helping you support clients at a sensitive time with less administration.
Any applications already in progress using the existing process will still be processed as normal, so there’s nothing you need to change.
If you need any further support, you can find helpful guidance in our Knowledge Base, which includes a range of useful articles, or speak to our Client Services team who’ll be happy to help.
This article is for financial professionals only. Any information contained within is of a general nature and should not be construed as a form of personal recommendation or financial advice. Nor is the information to be considered an offer or solicitation to deal in any financial instrument or to engage in any investment service or activity. Parmenion accepts no duty of care or liability for loss arising from any person acting, or refraining from acting, as a result of any information contained within this article. All investment carries risk. The value of investments, and the income from them, can go down as well as up and investors may get back less than they put in. Past performance is not a reliable indicator of future returns.
