The new platform will first be live for new business, via a soft-launch with a small number of pilot users in the months ahead. This will ensure as smooth a take-up as possible when we rollout to all our users.
Following extensive testing, dry runs and dress rehearsals, the next big milestone is when we move the majority of existing James Hay Online customers onto the new platform.
We don’t have a date yet. We’re currently working through a comprehensive programme of testing and fine-tuning to make sure the platform works as intended.
We plan to write to customers again late Spring/early Summer to confirm the upgrade date.
Our letter includes a Simplified, transparent pricing flyer. It outlines how our pricing will work on the new Nucleus Platform.
Further information is available on the Our charges page of our adviser help hub.
As part of the upgrade, you’ll be able to see all transactions from the past five years on the new platform. You won’t be able to see your clients’ product history on James Hay Online after the upgrade.
While we’ve reduced the number of charges, there are some one-off fees that apply in specific circumstances, such as offshore bond set up, or the sale or purchase of Exchange Traded Investments (ETI) – which are payable when they take place. These charges only apply when the relevant options/actions are taken so your clients only pay for what they use.
For commercial property some transactional charges also apply.
Also when your clients start to access the benefits from their pension, either through a lump sum or regular income payments, then an annual income drawdown charge will apply.
We have extensive testing and quality assurance checks to carry out and until these processes are completed, we can't confirm the exact date that the upgrade will take place. We'll keep you informed as we know more.
Although our brand name is changing from James Hay to Nucleus, the James Hay Pension Trustees legal entity will continue to be responsible for pension funds placed with us, so you’ll continue to see this name.
The platform upgrade and new branding are part of our wider strategy to grow our business and improve the online service we offer. Read more in our Platform upgrade news.
We’ve already sent your clients their specific charges schedule (in our August 2024 mailing). An additional letter was sent in September 2025 to customers who joined the platform after this time, or who we have an updated address for.
We’re not able to provide more specific details at the moment. Once the upgrade has taken place, you’ll be able to obtain a personal illustration for them based on the new pricing via the Nucleus Platform.
Our current James Hay pricing approach and the new Nucleus Platform approach are very different. Many existing transactional charges are being absorbed into the platform charge and modules.
If customers have questions, we always recommend they speak with their adviser in the first instance if they have one. By speaking to their adviser, they can discuss the specific rates that that firm have agreed with James Hay for them.
We can also provide your firm with a version of your current James Hay charges schedules (updated for AWE), with the new platform schedule attached for reference. Contact your Business Development Manager if you would like a copy.
All customers pay an annual platform charge which is either a fixed fee, a percentage of assets or a combination of both. Your client may pay other charges depending on the products they have, the assets they trade in and specific events. You can find their current charges in their existing James Hay charges schedule.
As a result of the changes, many customers will pay less and some will see an increase. We’ve simplified our pricing, to make it easier to understand the charges your clients pay, and details are set out in the new charges schedule we sent them.
If you’d like help to understand the charges, please get in touch with us and we’ll be happy to assist.
All customers will be able to access our new customer portal, allowing them to view their products and make some changes online. Those who already have a James Hay Online account will be guided to register for the new platform when they first login after the upgrade. We’ll be making all customers aware of how to find the new portal and how to register or login for the first time.
All customers included in the upgrade will be set up on the new platform with the paper-based communication option. This preference can be updated on the platform at any time.
However, all new customers joining after the upgrade will have electronic communication as the default – again, this preference can be updated if required.
This terminology is consistent with our literature and website.
We’ve been working with many providers of back-office software to ensure that data from the new platform will be available. Information relevant to your software provider will be available here shortly so do check back.
The Nucleus Wrap and existing James Hay data feeds will remain unchanged for now and will appear alongside the new Nucleus Platform data feed.
Yes, details of your firm will be ready for you on the new platform, based on our current understanding of your structure. Following the upgrade, there’ll be more options available for setting up different user levels for your organisation, so if the initial set up doesn’t look quite right, it can easily be changed. Read more in our Platform upgrade news.
After upgrading to the Nucleus Platform, updated Terms and Conditions will apply. If your clients don’t wish to change to our new terms for any reason, they have the option to transfer out. If we’re unable to complete the transfer of their products before they’re upgraded to our new platform, we’ll reimburse customers if they’re negatively impacted by any changes in price resulting from the upgrade.
We no longer apply exit fees when a customer chooses to leave any of our products. Charges for transferring a property do, however, continue to apply.
New Adviser Terms of Business will apply for all business placed on the Nucleus Platform. Our existing Terms of Business will apply for all products that remain on James Hay Online, as well as any new business on that platform. We won’t require a signature from you for this change, but we’ll write to you separately with full details.
Most customers will pay much the same on the new platform as they pay now. Some may pay a little less. A small proportion of our customers who have complex products may pay more.
