Sign up for Wrap
The value of investments can go down as well as up, and the investor could get back less than was paid in. Laws and tax rules may change in the future. Personal circumstances and where the investor lives in the UK will also have an impact on tax treatment.
Before you start
To complete registration for your adviser firm, you need to be authorised to accept the Platform Adviser Terms of Business (PDF) on behalf of your firm.
It's easy to sign up to Wrap online. If you have the right details on hand, signing up will take between 10-15 minutes. In most cases there's no need to call or post signed forms.
If your firm is already using Wrap and you want to add new advisers, send a request to firstname.lastname@example.org – you don’t need to complete the sign up form. Your request should include these details:
- Company name
- Adviser name
- Standard Life (Phoenix) Agency Code (include this in the email subject line)
- Platform company shortcode or FCA number
- Name of the administrator in your firm
Before you start our online sign up process, follow these three steps:
1. Due diligence
Please take time to review Wrap’s capabilities and whether it meets your client and business needs. We’ve created a guide to help you perform these due diligence checks.
Download the due diligence guide (pdf)
If you have questions or want to discuss your particular need, please speak to your usual abrdn contact or email us at Business.Development@abrdn.com.
2. Review with your clients
You can use this client guide to review Wrap with your clients and help determine if Wrap is right for them and what they can expect.
3. Gather necessary details
You will also need:
- Your firm or network’s details and Financial Conduct Authority number
- Companies House Registered Number (if applicable)
- Contact details: Registered address, phone number and website
- Your firm’s bank account details
- Your admin user’s details, including date of birth (you can add more later)
- Details of an adviser that will be using Wrap, including date of birth (you can add more later)
- If applicable, details of the clients you want to move on to the platform. You can bulk transfer them.
- Name of parent company or holding company (if applicable)
- Details of how many controlling shareholders, including Ultimate Beneficial Owners and Persons of Significant Control that your company has and details for these individuals / companies, i.e.
- Individual Details:
- Shareholder Name
- Shareholder DOB
- Residential Address
- Company Details:
- Company name
- Business address
- an understanding of the anti-money laundering (AML), counter terrorism finance (CTF) and sanctions policies and procedures that your firm operates*
- an understanding of the AML, CTF and sanctions employee training your firm has in place*
- an understanding of your identification and verification process*
*As part of changes in AML regulation, and increased focus on AML policies post the Russia/Ukraine conflict, we want to ensure that abrdn and the firms we do business with are meeting regulations.
This means that we have enhanced our Wrap Platform onboarding forms to capture key AML data points and obtain attestations from new IFA firms and new Appointed Representatives (ARs) of existing IFA firms. This is to protect you and your customers from money laundering and fraud and avoid the need for direct customer contact.
The regulations (Money Laundering Directives 4 & 5 - opens in a new window) are vast and have a high level of interpretation, we therefore want to partner with you to ensure compliance for you, your customers and abrdn.
What happens after I sign up online?
Then your adviser and admin user can start using Wrap straight away. Your admin user can also start adding other staff from your firm.
More resources for advisers
Support on the pensions, taxation and wealth transfer issues that matter to you, compiled by our expert team.