Efficiently Disinvesting from Your Portfolio: Steps and Timelines Explained

If you have requested disinvestment from your portfolio and there is not enough cash available, we will need to instruct a sale of some or all of your investments. To ensure that we manage your expectations and that your funds arrive in a timely manner, please expect the following requests:

1. Is the request coming directly from you?
   
   ‍If this is your first withdrawal or the first withdrawal after a long period of time, we may contact you on your home or mobile phone to confirm that the request has come directly from you.
   
   ‍In an age where email scams are becoming more sophisticated, we want to ensure that the instruction we have received is legitimate.
   ‍‍
2. Your nominated bank details
   
   We will confirm that the bank details we hold on file are still valid so that when the funds are available to send, they arrive in the correct account. These can be confirmed over the phone or via a secure message on IQ Wealth.
   
   If your bank details have changed, we will need you to sign a form to instruct an update with the relevant provider. They will also request proof of the new bank account details to ensure that they are in your name.
   
   Please note that we will be unable to send the funds to any third parties.
   ‍
3. Your timeline
   
   How quickly do you need the funds? To ensure that we can get these to you efficiently and follow the steps above, please alert us as soon as possible.
   
   ‍Unless the amount you are requesting is already in cash, settlement of trades can take between 5-10 working days before we can send the funds to your nominated account.
   
   Payments are sent via CHAPS, which should arrive by close of business on the same working day if instructed before 12 pm. If instructed after 12 pm, they will arrive by close of business on the next working day.