How it Works
First Pack Sent
IFA sends out direct promotion pack that has been authorised by AIML. The pack Includes
Cooling Off Period Email
Personalised Risk Warning
Investment Memorandum
Key Information Document
Performance - Exits
Pitch Decks
Categorisation
Appropriateness
Cooling Off Period
IFA contacts Investor, or the investor responds to marketing pack to give consent to continue the journey. Check that the 24 hour cooling off period has expired from the date/time the client gave consent to continue the journey
Full Pack Despatched
Once the 24 hour cooling off period has expired, the IFA sends full pack to the investor including
Personalised Risk Warning
Investment Memorandum
Key Information Document
Performance - Exits
Pitch Decks
Categorisation
Appropriateness
Application form
Application
IFA completes the Application Form and Letter of Authority (LOA)
Pack received by AIML
AIML checks the application
KYC/AML
Application sent to custodian to conduct KYC/AML checks electronically.
If the electronic check fails, then we will request certified copies of POI and POA
Decision
AIML contacts IFA with a decision to either proceed or decline based on the outcome of the AML checks.
Funds Request
If KYC/AML approved, AIML requests funds to be transferred to Custodian
Funds Received
Funds received by Custodian
Fund Disbursements
Disbursements transacted
IFA Fees
Balance of funds kept in segregated account until investments made in Investee Companies
Share Subscription
AIML instructs the Custodian to subscribe for shares in pre approved portfolio companies
Share Notification
AIML notifies the IFA/investor of the shares subscribed for in their portfolio
SEIS-EIS Certificate
SEIS3 and/or EIS3 certificate issued to investor to allow them to claim tax relief on their tax return
Monitoring - Reporting
AIML will send IFA/investor half yearly reports with respect to periods 5th April and 5th October each year. The reports will be sent within 45 days from the end date of the period concerned
Share Disposal
IFA/Investor requests a share disposal
Exit
Process the exit by disposing of shares in the following events:
Sale to a third party
Purchase by non fund shareholders
Shares purchased by new investors
Reduction of Share capital
Voluntary Liquidation
Exit - Loss Relief Certificate
If a portfolio company is dissolved or liquidated, Loss relief certificate issued to IFA/investor to apply for tax relief of the loss incurred
Ad hoc communication sent to the IFA/investor in addition to the 6 monthly reports
Exit - Success
If the shares in a portfolio company are disposed of with a profit, notification sent to IFA/investor.
Ad hoc communication sent to the IFA/investor in addition to the 6 monthly reports
Exit - Full
Investors share portfolio fully disposed with losses and or profits.
Communication sent with full portfolio exit
P & L
Exit Fee Disbursements
IFA/Investor communication sent with new briefing book ready for further investment