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How do I close a Wealth Accelerator account?

You can close a Wealth Accelerator (Core or Plus) account using the ' Wrap Services Withdrawal form.'

The 'Wrap Services Withdrawal form' allows for the following options:  

  • Full cash withdrawal – you instruct Netwealth to redeem all of your/your client's investments, pay withdrawal and close my account. Orders to redeem listed securities will be placed at market price through our default platform broker and brokerage fees will apply. If your/your client's account holds suspended investments that may prevent this transaction from being processed in one amount, we will transfer as much as possible now. A new request will need to be made should you wish to make any further withdrawals from the account.
  • Full in-specie withdrawal – you instruct Netwealth to transfer all investments and once complete, withdraw cash and close the account.
  • Partial in-specie withdrawal – you instruct Netwealth to transfer certain nominated investments.

If you request a lump sum withdrawal or instruct us to rollover the money, and their are illiquid
investments in the account, it may take longer than 30 days to process your request. An investment is illiquid if it cannot be converted to cash within 30 days. Where an investment is illiquid, we will advise you when you request a withdrawal or rollover.

We may receive further income in connection with your/your client's investments after we have redeemed them. To ensure that you/your client receive these payments, we will keep the account open for approximately 2 months after completion of a full withdrawal. Any further payments we receive will go into your account and, at the end of this period, we will close the account and pay any balance to the provided bank account.

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