Netwealth allows clients to transfer between Wealth Accelerator or Super Accelerator Core and Plus accounts using a Transfer Form. This guide covers how to transfer between core and plus accounts in Wealth Accelerator, as well as some potential benefits for each product.
Core to Plus:
If you or your client have a Wealth Accelerator or Super Accelerator Core account, you may instruct Netwealth to transfer the entire account to Plus via the Wealth Accelerator Transfer Form or Super Accelerator Transfer Form. If you transfer, you then have access to all of the investment options available within Plus. Once the transfer is completed, the administration fees for Plus apply to the entire account balance held within the Accelerator account. You should see the Wealth Accelerator Guide or Super Accelerator Guide for details of these fees.
Plus to Core:
If you or your client have a Wealth Accelerator or Super Accelerator Plus account, you may instruct Netwealth to transfer your account to Core via the Transfer Form or Super Accelerator Transfer Form. The investments are then restricted to those available through Core. If there are investments in the account that are not available through Core, by instructing Netwealth to transfer your account to Core, you are also instructing Netwealth to redeem or sell all investments not available in Core and to invest the proceeds into the cash account, until you provide Netwealth with further investment instructions.
The transfer is not effective until all the redemptions and sales of assets are completed. Therefore, if you have illiquid investments in the Wealth Accelerator or Super Accelerator Plus account, then you will not be able to transfer to Core until those investments can be redeemed or sold. Once the transfer is complete, the administration fees for Core apply to the entire account balance held within the Wealth Accelerator Core account.
Non-custodial asset administration is not a feature available to Wealth Accelerator Core accounts. Upon transfer to Wealth Accelerator Core, Netwealth will inform the asset manager of any non-custodial assets that Netwealth have ceased to administer the asset(s) on your behalf.
Identifying if an account is Core or Plus
To identify if a Netwealth Super Accelerator or Wealth Accelerator account is core or plus, navigate to the portfolio page of the Netwealth portal (located in the top banner). From here, you can use the left-side panel to view all accounts linked to that username. Each account will have an account abbreviation before listing the account number. The abbreviations mean;
- W: Wealth Accelerator Core Account
- S: Super Accelerator Core Account
- W+: Wealth Accelerator Plus Account
- S+: Super Accelerator Plus Account
Eg. W+ WRAPXXXXXX would mean that the account is a Wealth Accelerator Plus account, whereas W WRAPXXXXX would mean that the account is a Wealth Accelerator Core account.