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

Wealth Accelerator has an approved list of investments available for both:.    

1. Custodial assets: Investments held by Wealth Accelerator as your custodian.
2. Non-custodial assets: Investments held in your name, administered by Wealth Accelerator on your behalf.

If an asset is available as a custodial asset, it cannot be transferred as a non-custodial asset. You may consider an in-specie transfer if eligible. If the asset is unavailable, you can submit a request for approval. For assets that don’t qualify for either service, advisers can manage them using Xwrap. Please refer to your TRM/BDM for more information if you would like more information on Xwrap.

This guide outlines the steps to check if an asset can be held under the non-custodial asset administration service, the steps to obtain an approval for new investments and how to submit a transfer request to Wealth Accelerator.

Step-by-step guide to transfer non-custodial assets

1. Log in to Netwealth and navigate via the main menu to ‘Activities & tasks’ > ‘Non-custodial transfer request.’
2. Select ‘Add asset’
3. Select your client’s account number using the search bar
4. Select asset name by using the search bar to find the asset you wish to transfer.
5. When you select your transfer asset, the system will determine if the asset is available for non-custodial. If the asset is an approved custodial holding, A warning will display, indicating it cannot be held as a non-custodial asset. The provided in-specie transfer is required to transfer this asset onto the platform. If the asset is not found in the list, you will need to request a review following the below section. If you receive no errors proceed to the following step.
6. Upload holding statement
7. Confirm if partly paid or has an uncalled commitment
8. Provide parcel details, including the purchase date, units and cost base for all units being transferred.
9. Select confirm to review your transfer request
10. Select submit to finalise your transfer request. Once submitted, you’ll receive an email confirmation when the instruction is sent to the asset issuer, manager, or administrator. Ensure that any required funds are available for timely processing. If additional information is needed, Netwealth will reach out for any missing information. Delays in providing this can postpone processing.

How to request a non-custodial asset review 

If when complete the above the asset transfer request and your transfer asset is not found in step 5, you can request a review by following these steps:

1. Choose “No item found. Select to request the asset to be reviewed” and provide; Holding statement Asset cost (Optional) APIR/ISIN, fund manager name, and registry contact details.
2. Confirm to submit your review request The initial review takes approximately 3 business days. Netwealth will then confirm if the asset can be managed as either, a custodial asset, a non-custodial asset or an adviser-managed asset via Xwrap.