To enable trading of non-custodial investments, investors must have a valid Limited Power of Attorney (LPOA) on file with Netwealth. This authorisation allows you to submit instructions to purchase or sell non-custodial investments.
This guide covers:
- How to enable non-custodial investment trading
- How to purchase a non-custodial investments
- How to request a new non- custodial investment be added to approve list.
- How to sell a non-custodial investments
These transactions are not live trades. Your instructions are for Netwealth to liaise with the fund manager on your behalf.
How to enable non-custodial investment trading
You will need to register for the Netwealth non custodial asset administration service to be able to access the trading functionality. Please refer to the set up guide for more information.
How to purchase a new non-custodial investments
Step 1: Navigate to Place an Order
- Log into your netwealth account
- Select your account or search for your client’s account using the search bar
- Navigate to Transactions > Buy & Sell > Place an Order
- Select the Non-Custodial Investments tab in the menu bar.
- Note, if you are not able to see the Non-custodial Investment option, the non-custodial functionality has not been enabled. Please refer to the set up guide.
Step 2: Select the asset to purchase
- If you are purchasing an existing asset held in the portfolio, select the buy button on the required investment, you can also search for the investment using the search asset bar.
- If you are purchasing a new investment , click on View available assets button to open the right hand side panel and view all non-custodial investments that have been pre-approved. You can search for specific assets. Once selected, select the buy button.
- Note, you may select multiple assets in a single instruction order to buy or either sell.
Step 3: Provide investment instructions
- Enter the amount you would like to purchase, you can provide either a purchase amount or number of units. If the investment is offered in foreign currency, you have the option of purchasing funds using native funds, if you hold sufficient foreign currency.
- Select next to proceed to view a summary.
Step 4: Review and confirm order summary
- If purchasing new investment not currently held in the portfolio , you will need to review the account details and upload any required documentation to satisfy Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. Required documents might include ASIC extracts, trust deed extracts, and certified ID for individuals associated with the account. Ensure all necessary documents are uploaded to avoid processing delays.
- If purchasing more of an existing investment held in you portfolio, review the summary of your transaction.
- Tick the acknowledgement box and select confirm
- Please allow allow 5-10 business days for Netwealth to process and submit the order. Additional information may be requested depending on fund manager requirements.
How to purchase a new non-custodial investments
If the asset is not available to purchase, you can request Netwealth to undertake a preliminary asset review to determine whether the asset(s) can be held non-custodially. Send your request to contact@netwealth.com.au along with a copy of the relevant PDS or IM disclosure document.
This initial review process will take approximately 3 business days, and you may be required to provide further information. Please also refer to this guide if transferring an existing holding or if you would like to check if the asset you wish to purchase is currently approved for custody only purchases.
How to sell a non-custodial investments
Step 1: Navigate to the Place an Order screen
- Log into your netwealth account
- Select your account or search for your client’s account using the search bar
- Navigate to Transactions > Buy & Sell > Place an Order
- Select the Non-Custodial Investments tab in the menu bar.
Step 2: Select assets for sale:
- Choose the assets you wish to sell. Multiple assets can be included at once. You can also request one or more asset purchases at the same time.
- Enter the sell details , providing either a sell amount or or units.
- Select Next
Step 3: Confirm and submit your sell order
- Verify the sale details, ensuring accuracy in all information submitted for processing. Including: any sale deadlines or timelines that Netwealth should be aware of.
- Select Confirm to finalise your order.
Step 4: Processing by Netwealth
Netwealth will liaise with the asset manager to complete the sale, handling all necessary communication and documentation on your behalf.
- Some asset sales may incur fees, which will be applied if applicable.
- Please allow 5-10 business days for Netwealth to submit buy or sell orders to the asset manager.