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How do I manage assets held under the non-custodial administration service?

Clients will be able to view their entire portfolio on screen. Both custodial and non-custodial assets will be integrated into a single account. Non-custodial assets will be reflected with the code “MEA”. Regardless of the types of assets held, consolidated client reports can be produced on each of the asset types individually or combined as a whole. Any statements relating to the non-custodial assets and correspondence Netwealth receives from asset managers will be accessible to the adviser and investor through the document library on the Netwealth Portal.    

Call Payments

Netwealth will facilitate call payments for non-custodial assets. Generally an asset with this characteristic has a total commitment value and an initial payment followed by further draw down/s or “call payments” up to the committed total (as the investment requires additional funding).

New Asset Sale

Where a client wants to sell an asset they currently hold under the non-custodial administration service:

We require the client/adviser to provide instructions via an email address registered (trusted email address) on the client’s/adviser’s account. 

Asset Transfer Out

Where a client wants to transfer out their assets they currently hold under the non-custodial administration service, instructions must be received from an email address registered (trusted email address) on the client’s/adviser’s account/fund manager’s.

Termination of the non-custodial agreement

In an event where the client decides to sell/transfer out all of their assets under the non-custodial administration service and terminate their non-custodial agreement, they can still choose to have their Wealth Accelerator account open with custodial/XWrap assets.

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