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Once you have decided to proceed, we will agree a time when we can have an ‘Implementation’ meeting. In this meeting we will help you design a process in order to go through exactly how you can move your clients onto CleverAdviser.

We will ask you to provide us with your ‘average balanced client’ asset allocation. Once we have received this, we will use this asset allocation in order to back test this on your chosen wrap provider, against our 3 ‘off-the-shelf’ strategies. For more information see Section 3, ‘How are IFAs set up on Clever’. We will send you the results of the back test and discuss them with you.

Yes. We have a newsletter, which explains how the process works, which you can send to your clients.

There is a client sign-up pack, which you will need to complete and send to your clients. Clients are required to sign the ‘Client Agreement’ letter in order to register with the Service.

As long as the paperwork that they have previously received has not changed (i.e. Supplemental Terms of Business, Explanation of Criteria), then they do not need to receive all of the paperwork again. They will need to be informed of the funds that they will be invested in and they will need to sign a new client agreement, stating the new account number that Clever will now be monitoring.

You are welcome to ‘white label’ our service, just let us know so that we can input this onto the website.

You will receive sales and admin training for all relevant staff members. At this meeting we will go through with you exactly how you can present the proposition to your clients, including solicitors and accountants. We will also guide you through the paperwork your clients will need to sign up to CleverAdviser and everything you need to know about how our website works in practice. You will be given a training and information pack, incorporating a range of information about Clever.

Yes, definitely. If you have any queries whatsoever regarding Clever, then please get in touch with us, we are always here to help. We can also remotely login to your computer in order to go through any specific queries you may have.

Every member of staff that is going to be using the Clever website, should have their own login details. Please therefore let us know who needs to be set up and we will do this for you. Alongside their name we will also need their email address and position within the company. Once you are set up, we will inform you of your username and password.

Please contact us and we can re-set this for you.

Yes please. We will need to archive this user, so that they will no longer have access to the website or your client information.

Yes please. Please let us know if your name changes or more importantly your email address. The email address needs to be accurate, so that when you send a ‘test email’ for the switches to yourself, it is received accurately at your email address.

We do, but only if you are using the ‘Completely Clever’ service (which is offered in conjunction with Cass Business School). If you are just using the ‘CleverAdviser’ service, then we only populate your sectors with funds – you are still in control of which sectors you use and the percentage allocation.

Please see Section 4, ‘Wraps Available on Clever’ for the most up to date list. If you would like to use a wrap that is not listed here, then please let us know and we can discuss this further.

Yes, you can have as many different wraps as you wish on Clever, but you need to be aware that the results from each wrap company will vary. This is due to there being a different number of funds available for each wrap/sector and therefore, this will have an impact on the results that are achieved on each wrap.

No, you will have the same set up for each wrap that you use with Clever.

Once you have agreed your set-up with us, we will input this onto the system. This will result in your ‘current funds’ being available from the ‘Home Page’ on Clever.

No, not necessarily. The process started in June 1998 and regardless of what month or year you enter the process, you are in essence getting on a ‘moving train’, using the process as if you had been on it since June 1998.

No, not necessarily. When you switch into a fund, the process will always select the best performing fund (according to your ‘set-up’). The fund will remain in your portfolio until such time as it breaches the threshold.

No. Our process only allows one fund per sector. If you wish to hold other funds within that same sector, you would need to hold them outside of the process.

Not necessarily. You will have the same set-up for each wrap that you use on Clever. However, as the fund list for each wrap company will be slightly different, then you could hold a different fund for different wraps, or, you could hold the same fund for each wrap, but you might switch in or out of the fund at a different time.

Please refer to the ‘Threshold Calculations’ document within the Library tab on the website for further information.

No. The system works this out based on the back testing we have performed in order to ascertain what the threshold score for each individual IFAs set-up should be. The threshold scores are calculated in conjunction with your set-up.

Every six months the threshold scores, the point below which our process determines it is efficient to sell a fund, are reviewed. The reason why the review takes place is the system needs to be updated with the last six months data, which is then added to the previous data which is used by the system to ensure optimum performance.

Please note that the threshold scores can vary from sector to sector. This is due to some sectors being calculated on an absolute basis whilst others are calculated on a weighted basis. The process comprehensively tests each sector to see which methodology (absolute or weighted) gives the most consistent results and then that methodology is applied.

Absolute basis – there are 9 criteria and each criterion can achieve a maximum score of 10. Therefore, 9 x 10 equals a total maximum score a fund could achieve of 90. This is the methodology used on the absolute score basis.

Weighted basis – a weighting is applied to the 9 criteria. For example, whichever criterion is calculated to be the most important, the fund score is multiplied by 9, for the criterion calculated to be the second most important; the fund score is multiplied by 8 and so on and so forth. On this weighted score basis a fund could achieve a maximum score of 450.

This is the reason why in some sectors the threshold scores are below 90 and in others the scores are in the 100’s.

* Please note: the research rating criterion is currently unavailable, therefore all monthly reviews undertaken by the Service from 1 May 2014 will score all of your funds as ‘0’ in this criterion.

No, not necessarily. Due to the different number of funds that are available for different wrap providers and sectors, this could result in the threshold scores varying between wrap providers.

No. There are 362,880 different ways in which the criteria could be set. The system works out the most efficient way for the criteria to be set, based on the back testing that has been performed, for each sector and set-up.

No. The system will always use all 9 criteria.

Depending on the way that each sector has been set-up on the system, the system has determined that where all funds in a sector have fallen below the threshold score, it may be optimal to remain invested in the current fund, even if your current fund does not have the highest buy score.

For other sectors, the system has determined that it would be optimal to remain in the current fund and therefore no switch would be recommended.

For further information, please do not hesitate to contact us.

Absolutely. We can guide you through the switch process for as long as you need, so that you feel comfortable with the process that you have to go through each month.

The switches should always be sent out on the 4th working day of the month and it is your legal responsibility to do this on this day, as set out in the Supplemental Terms of Business. We will put a notification on the website towards the end of each month, informing you as to when ‘switch day’ is.

We will put a notification on the website, informing you as to when the switches are ‘live’. We will also send an email confirming that the switches are ‘live’ and available to view, so that you can then do your due diligence on the fund switches.

It is the responsibility of the IFA Partner firm to send out the switches to their clients.

Yes. Regardless of whether there is a switch or a “no switch”, your clients will still receive an email/letter, either stating that one or more funds need to be switched; or that no switch is necessary and all their funds are performing as they should be.

Once a client has actioned their switch, this sends the response back to our website. You will therefore need to login to the website, in order to see which clients have responded – they will be listed under the ‘authorised’ tab on the ‘Switches’ page.

This is the responsibility of each IFA Partner firm to switch their clients on the relevant wrap provider.

You have a choice:

1. You can either have a cut-off period, so that your clients have to respond within a certain time frame (generally 5 or 10 days), after which your clients will not be able to respond to their switch, as their switch link will have expired. In this instance, the client will receive a ‘carry-over’ switch (as long as this switch is still relevant) on the 4th working day of the following month; OR

2. You can opt for no cut-off period, so that your clients can respond to their switch at any point during the month.

Depending on which option you choose, different Supplemental Terms of Business will apply.

You have 5 working days in order to action the switch on your wrap company, from the date the client responds.

Yes, you can personalise your switch emails. Please note that it MUST be an actual live email address, so you might need to create a new email address for this purpose. Once you have agreed to proceed with Clever, we will contact you regarding this.

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