How do I open a Wealth Accelerator - Express Account online?

This article guides Adviser Representatives on using Netwealth's new fully digital Wealth Accelerator application process. It details steps to complete the adviser application form, client review procedures, editable client details, and how to track application status. Clients must review, verify identity, and submit within 60 days. Advisers can monitor progress and access documents via the onboarding tracker.

This process is intended for use by Adviser Representatives only and is provided for adviser operational purposes. Clients can only act on the application review process and should contact their Adviser Representative or Netwealth at [e-mail] for information relevant to their circumstances.

The new online application process allows advisers to efficiently onboard clients for Wealth Accelerator, streamlining the process with a fully digital, paperless approach. This guide covers the steps required to create a new account:

1. Completing the Wealth Accelerator Adviser Application form
2. Client Wealth Accelerator Application Review
3. What details can a client edit?
4. Tracking application status

If you wish to open a Wealth Accelerator account not in this wizard, please read our guide on completing an offline application.

How do I complete the Wealth Accelerator Adviser Application form?

Step 1: Account Type page

This section determines: 

• Which fields appear later in the application 
• What the client will be asked to confirm and approve during online client review 

Product and account selection 

In this section, select the following: 

• Account type: Core or Plus 
• Nominated adviser 
• Premium Service – Wholesale status (optional, ensure you upload wholesale evidence if selected) 
• Entity type (e.g. Individual, Trust, SMSF etc.) 
• Source of Wealth (multiple selections allowed) 
• Source of Funds (multiple selections allowed) 

See more on entity types and information required here. 

Upload Documents (optional) 

Use this section to upload any supporting documents relevant to the application. 

Please note: Applicants will be prompted to complete digital identity verification later in the application. Digital identity verification is not mandatory, though highly recommended. If applicants will complete identity verification online, you do not need to upload certified identity documents in this section.  

IMPORTANT: Trust accounts - Trust Deeds cannot be verified online and are required as part of account establishment. If the application is for a Trust, a certified copy of the Trust Deed must be uploaded in this section. 

Examples of documents to be uploaded here include: 

• Wholesale Certificates (mandatory for wholesale investors) 
• Certified Trust Deed (mandatory for Trust accounts) 
• Certified identification documents (only if the applicant/s are unable to, or do not wish to consent to online ID verification) 
• Power of Attorney or Financial Management Orders 
• W8BEN forms  
• Other supporting documentation, as relevant 

Step 2: Add Applicants Page

This section determines the individual(s) who will be linked to the account. 

You can: 

• Search for an existing Netwealth client, or 
• Add a new applicant by entering their details 

For non‑individual applications: 

• Multiple applicants can be added 
• The first applicant added becomes the primary applicant 
• All applicants added will be required to complete online client review and approval 

Email address and mobile number 

• You must enter an email address and mobile phone number for each applicant to complete online client review 
• These must belong to the applicant(s). Adviser email addresses and mobile numbers cannot be used 
• Please ensure that these details are correct before you submit for client review – they cannot be amended afterwards without recreating the entire application 
• Clients without these details cannot complete an online review – you will need to revert to PDF review 

Add Beneficiaries (for applicable entities, e.g. Trusts) 

A beneficiary is a person or entity entitled to receive benefits (such as income or capital) from a trust or arrangement under its governing terms.  

In this section, you must identify who the beneficiaries of the entity are. 

How to complete this section 

• If a beneficiary is already listed as an applicant, tick their name to confirm their beneficiary status 
• If a beneficiary is not an applicant, select Add beneficiary to record them 

Important: Beneficiaries do not need to have their identity verified; however, we do need to collect the following details: 

• Class of Beneficiary 
• Title, given name and surname 
• Date of Birth 
• Residential Address 

Add Beneficial Owners (for applicable entities, e.g. Trusts and Companies) 

A beneficial owner is someone who ultimately owns or controls an entity, or who ultimately benefits from it, even if it is held in another name or through a structure (such as a company or trust). 

This section is used to identify individuals who ultimately own or control 25% or more of the entity. 

How to complete this section 

• Select the applicant(s) who own or control 25% or more of the entity 
• If a Beneficial Owner is not listed as an applicant, select Add Beneficial Owner to record them  

Important – identity verification requirements 

Beneficial owner(s) must be verified in line with AML/KYC requirements before the account can be established. 

This can be completed via: 

• Online identity verification, or 
• Provision of appropriate certified identification, where online verification is not available or unsuccessful 

The account cannot be opened until identity verification has been completed for all relevant beneficial owners. 

Signature verification 

When an application is approved electronically, Netwealth does not collect a physical (wet) signature as part of the process. This also applies if you choose to generate an application PDF and have this is digitally signed. 

Documents uploaded here will be retained on file to verify any physically signed instructions or documents received in the future. 

You must upload an identity document that contains a natural physical signature, such as: 

• Driver licence 
• Passport signature page 

Please note 

• The document does not need to be certified, as it’s not used for identity verification (refer to identity verification below)   
• It is retained purely for future signature verification purposes 

Identity verification (online) 

This section captures information required for Netwealth to complete online identity verification. If this section is not completed by you, the client will be prompted to complete it during their online client review. Digital identity verification is not mandatory, though highly recommended.  

If consent to online identity verification is not provided, copies of identity documents (certified within the last 12 months) must be provided to Netwealth. These can uploaded in Step 1 – Upload Documents.  

Requirements 

Please note that risk-based rules apply. Some applicants will be asked for one form of ID, while others may be asked for two forms of ID. 

Common ID documents include: 

• Driver licence 
• Passport (Australian) or Foreign Passport (with Australian Visa) 

Instant account establishment is not available if consent to online identity verification is not provided, or where these details cannot be verified.

Step 3: Account Settings Page

These settings determine how the applicant(s) will access their account, receive communications, and authorise instructions. 

In this section, you can: 

• Select whether the primary applicant will have browse or transact access (note: transact access is not yet available for non-primary applicants) 
• Choose the applicant(s) communication preference:  
  • Electronic, or 
  • Post 
• Select how the applicant(s) will receive their annual statements 
• Set the required signatory and authorisation instructions, including how instructions must be approved on the account (e.g. one-to‑sign or otherwise) 

Step 4: Bank Settings Page

Complete the this section to link external banking details to the account. 

You can: 

• Provide a nominated bank account for withdrawals from the Netwealth account 
• Set up direct a debit detail authority for deposits to the Netwealth account, or 
• Select No if banking details are not being provided at this stage 

Important note 

• Bank account and direct debit details are not mandatory at application stage 
• If these details are not provided now, only the primary applicant can supply them as part of the online client review process 
• These details can be provided or changed after the account is established, though this will require additional client authority at that time 

Step 5: Advice Fee Arrangement page

Complete this section to nominate any advice fees to be charged on the account. 

You can read more about establishing and maintaining advice fees here. 

Ongoing advice fees 

If nominating ongoing advice fees: 

• Enter the start date  
• Enter the next reference date (mandatory for retail clients) 
  • Must occur within 12 months after the start date, and can be set at any date in this period 
  • The next reference date sets the period within which renewal consent must next be provided (60 days before and 150 days thereafter) 
• Specify the fee structure, including:  
  • Dollar based and/or percentage‑ based‑ fees 
  • Fee frequency 
  • Any applicable exclusions (e.g. cash, term deposits) 

Fixed term ‑ advice fees 

If nominating fixed term‑ advice fees: 

• Enter the start date 
• Enter the end date 
• Specify the fee structure, including:  
  • Dollar based and/or percentage‑ based‑ fees 
  • Fee frequency 
  • Any applicable exclusions 

Important notes on advice fees 

• Applicant(s) cannot edit or add advice fees during online client review 
• Any advice fees included must be fully correct before submission for client review 
• Advice fees can also be added or updated via the Netwealth website after the account has been established, if required 

Step 6: Review and Submit

Once all required sections are completed, submit the application for client review.  

You will be able to choose between online client review or PDF (print, sign and return) review.  

At this point: 

• The application is not yet submitted to Netwealth 
• No account has been opened; however, an account number has been generated 

Note: where you select online client review, the option to change this to PDF review will remain available until an applicant accesses the online review link – once this occurs, they will need to complete the review online.  

For online client review, the applicant(s) will receive an email inviting them to: 

• Review their details 
• Complete identity verification (if required) 
• Submit the application to Netwealth 

A step-by‑step client guide can be found below. 

Expiry timeframes 

Online Client Review 

Upon submission, applicants will receive an email from Netwealth containing a link to their application and an invitation to review it online. 

• The link remains valid for 7 days. If the applicant does not access it within this period, the link will expire. You may re-issue the link at any time if necessary. 
• In cases with multiple applicants, each individual will receive a unique link. The primary applicant will receive their link first; subsequent applicants will receive their links in chronological order, only after the preceding applicant has completed their review. 
• The link may invalidate on some devices (link will not work or may display an expiry error, even though it has not yet expired). If this occurs, applicants may copy the link in its entirety and paste this into their browser. If any part of the link is missed, the page may not open correctly. Do not include the < > brackets containing the link 

For data security reasons, each applicant has 60 days to complete their review. 

If the review is not completed within this timeframe: 

• The application will expire, and 
• A new application will need to be created 

Offline PDF Review 

If the application is converted to PDF, you have 60 days for the signed application to be returned to Netwealth. 
If the signed application is not returned to us within this timeframe: 

• The application will expire, and  
• A new application will need to be created 

How does the client review the application?

A submitted application requires your client's review to ensure the information provided is complete and correct, and to provide relevant acknowledgements. 

Client Application Review

This guide explains how you can complete your application for a Wealth Accelerator account. 

Why am I being asked to complete this Wealth Accelerator application? 

The application is a digital account opening process prepared by your adviser (or other financial representative) and completed by you online. 

Your representative sets up the application first. You then review, confirm your details, verify your identity, and submit it to Netwealth. 

Step 1: You receive an email to review the application 

When the application is ready for your review, you’ll receive an email inviting you to review it online. This email will be sent from [e-mail] with the subject heading "Your Netwealth account application". 

Important: You will need your mobile at hand to receive an SMS code that allows you to access your application. This code will be sent to the mobile number we already have on file for you – you do not need to supply it and will not be prompted to do so. If at any stage you are prompted to supply this, please do not proceed and contact Netwealth immediately on 1800 888 223. 

If at any stage you are unsure of the legitimacy of the email, please contact your representative or Netwealth for confirmation. 

You’ll be asked to: 

• Click on the application link contained within the email 
  • Note, if there are multiple account applicants, you will each receive a unique link. Please ensure you access your unique link only. The next applicant/s link will only be sent to them once you have completed your review (chronological order). 
  • Your link will remain valid for 7 days. If you do not access it within this time, please ask your representative to re-issue it to you 
  • The link may invalidate on some devices (link will not work or may display an expiry error, even though it has not yet expired). If this occurs, please copy the link in its entirety and paste this into your browser. If any part of the link is missed, the page may not open correctly. Do not include the < > brackets containing the link 
• Once you begin the review, you’ll receive an SMS code from Netwealth to access the application 
  • This code is valid for 5 minutes – if it expires, you can generate a new one by clicking on the link again 
• You have 60 days in total to complete the review, after which the application will expire, and your representative will need to recreate it 

Step 2: Verify the accuracy of the information supplied and provide any missing information 

Please carefully review the information contained in each section of the application.  

You can add to and amend most details, including your personal details (though not your email address or mobile number, for security reasons), your TFN and your bank account details (if you are the primary applicant). 

Upload Documents (optional) 

Use this section to upload any supporting documents relevant to the application. 

Please note - you will be prompted to complete digital identity verification later in the application. Digital identity verification is not mandatory, though highly recommended. If you intend to complete identity verification online, you do not need to upload certified identity documents in this section.  

IMPORTANT: Trust accounts - Trust Deeds cannot be verified online and are required as part of account establishment. If the application is for a Trust, a certified copy of the Trust Deed must be uploaded in this section. 

Examples of documents to be uploaded here include: 

• Wholesale Certificates (mandatory for wholesale investors) 
• Certified Trust Deed (mandatory for Trust accounts) 
• Certified identification documents (only if you are unable to, or do not wish to consent to, online ID verification) 
• Power of Attorney or Financial Management Orders 
• W8BEN forms  
• Other supporting documentation, as relevant 

Signature Verification 

When you approve your application electronically, Netwealth does not collect a physical (wet) signature as part of the process. Documents uploaded here will be retained on file to verify any physically signed instructions or documents you may provide to us in future.  

You must upload an identity document that contains your physical signature, such as a driver’s licence or passport. 

Please note: 

• The document does not need to be certified, as it’s not used for identity verification (refer to identity verification below)  
• It is retained purely for future signature verification purposes 

Identity Verification (digital) 

As part of the review, you’ll also be asked to verify your identity online. Your representative may have pre-completed some of this information for you, or they may have left this blank for your completion. 

What to expect: 

• Usually one form of ID is required (e.g. driver's license, passport) 
• In some cases, a second document may be requested 
• This is a standard regulatory requirement 

All verification is completed securely via GreenID.  

Where you do not consent to digital verification, additional documentation (certified within the last 12 months) will be required and may delay the establishment of your Netwealth account. These documents can be uploaded in Section 1 – Account Type, under “Upload Entity Documents”. You representative may have uploaded these documents or other documents on your behalf. 

Step 4: Submitting your application 

Complete the final declaration and click “Submit”. If all required details have been provided, and in the case of non-individual accounts, all other applicants have also completed their review, your Netwealth account should be established instantly*.  

*The process may not be instant for some applications, including trust applications, applications that include non-applicant beneficial owners and if mandatory AML/KYC information has not been provided or cannot be verified. We will reach out to your representative where additional information is required. 

After submission 

Once your Netwealth account is established, you’ll receive a welcome email from us with your login details, as well as instructions on how to log in for the first time.  

What details can a client edit?

The primary applicant can change the following details (excluding subsequent applicant's personal details). Secondary applicants can only change their own personal details.

Function:	Can the client amend/edit?
Mobile/Email	No
Entity details	Yes
Applicant details	Yes
TFN	Yes
Signature verification	No if the adviser has already uploaded (required if adviser did not provide)
Identification verification	Yes but optional to add as part of the online application (where Green ID is used for verification). For the account to be created, certified identification will need to be provided if Green ID is not utilised.
Bank account details	Yes but optional to provide (primary applicant only)
Advice fees	No
Beneficiaries	Yes

How do I track an application status?

1. Monitor application progress: You can track the status of submitted applications by navigating to Open an Account > In progress applications > Onboarding Tracker.              
2. Access application: You can view the SLA expiry for the client (60 days maximum).
3. Completing the application: Once the application is complete, you can download the application PDF and the application details. The account status will change to 'Complete'. Other statuses include 'Expired' and 'Processing Failed'. 'Expired' means the transaction has gone over 60 days, and the adviser will need to redo the application. 'Processing Failed' means the straight-through processing has not been successful and an internal case has been created for Netwealth to action.

What documents are required for the KYC/AML check?

At minimum one document must be provided from the list below for Applicants KYC GreenID verification:

• Australian Passport,
• Australian Driver License, or
• Australian visa (foreign passport).

What happens if the applicant's KYC check fails or KYC details are not provided by you or the client in the online application?

Netwealth admin will be notified automatically to follow up with the Adviser.