Open an account

The process of establishing an account with an investment firm is as follows:

If you have not previously opened an account with us, we will ask you to complete our ‘due diligence’ questionnaire. A member of our account opening team will contact you to confirm where and to whom the questionnaire should be sent. You will need to complete and sign the questionnaire and return to us at Suffolk Life. Once we have received the questionnaire back from you, and it has been completed to our satisfaction, we will be in a position to send you our global agreement.

If you have an existing relationship with us and have previously passed our due diligence checks but do not have a global agreement in place with us, we will send you our global agreement.

The global agreement will need to be signed by your authorised signatories on behalf of your company and the original agreement sent back to us at Suffolk Life.

When we have received the agreement, correctly signed by your authorised signatories, or where an agreement is already in place, we will be in a position to complete and return your account opening forms. These will be completed subject to the Suffolk Life global agreement.

Once you have received the completed account opening forms and notified us the account is open, we can transfer funds or assets to the account. The amount to be transferred will be decided by the investor and their adviser. We can accept telephone or written instruction from you to transfer funds from the SIPP bank account to the investment account, unless the investor has instructed otherwise. You will need to inform us of bank details for the account so that funds can be transferred electronically.

Global agreements
A global agreement is a header agreement of how the applicable Suffolk Life accounts are to be managed. Each individual account opened with an investment firm is subject to the provisions made by the global agreement; this removes the need to sign in to a separate agreement with us each time an account is opened. A list of firms that already have a global agreement with us can be found here.