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How do I open a Wealth Accelerator account?

For all required reading regarding your Netwealth account, please read the Service Guides for Wealth Accelerator.

 

How do I apply for a Wealth Accelerator account? 

To apply to open a Wealth Accelerator account, you first need to read the Disclosure Documents. You should also read our FSG. Once you have done that, you can: 

  • read and complete an application online on our website, authorise it and send it to us; or
  • download the relevant Application Forms Booklet from our website to your computer, read and complete the forms on your computer, print and sign the forms and send them to us; or
  • obtain the relevant Application Forms Booklet from our website, from a financial adviser or by contacting us on Freecall 1800 888 223, read and complete the forms, sign the forms and send them to us.

There is no minimum initial deposit amount however Netwealth may at our discretion refuse to accept initial deposits of less than $10,000.

Deposits to your/your client's account can be made by Electronic Funds Transfer (‘EFT’), BPAY® or direct debit. Instructions on how to make deposits are in the relevant Application Forms Booklet. Deposits made by EFT or BPAY are initially deposited in our applications account before being transferred to the cash account (see ‘How your cash account works’ on page 9). In the case of a new application, the initial deposit is retained in our applications account until Netwealth have obtained all the information Netwealth require to open your account. Once Netwealth have that information, your/your client's deposit is transferred to the cash account. This is normally done within one business day of receipt of a correctly completed application.

Deposits made by direct debit are processed directly to your/your client's cash account, when it has been established. The funds remain in the cash account until you select from one or more of the available investment options.

If, for any reason, Netwealth are unable to process your application (e.g. if the ‘Application’ form is incomplete or incorrectly completed) the application monies are held by us in our application account for up to 30 days (or such longer period as is reasonable), while Netwealth endeavour to verify your/your client's identification information or obtain any necessary outstanding information.

Netwealth reserve the right not to accept (wholly or in part) any application for any reason or without reason. If Netwealth cannot obtain the necessary information or Netwealth decline to accept your application, any funds received from you/your client are returned to you without interest. Netwealth retain all interest (if any) earned on monies in our applications account.

 

How do I nominate a bank account?

When you open your Wealth Accelerator account, you can provide details of the preferred nominated bank account. The nominated bank account is an account you/your client hold with an Australian financial institution which will be used to receive withdrawals from the Wealth Accelerator account.

You can nominate or change the nominated bank account through your online account or by submitting a form to us. You can nominate and store multiple bank accounts.

You can also nominate different bank accounts for regular withdrawals, savings plans or standing direct debit authority or to be used for other withdrawals.

 

What are the differences between Wealth Accelerator Core or Wealth Accelerator Plus?

Wealth Accelerator offers two product options. You have a choice between Wealth Accelerator Core and Wealth Accelerator Plus. When you complete the application, you must choose which of these you want. Whichever you choose will apply to all investments you make in the Wealth Accelerator account. You cannot use both product options for a single account. Your choice determines the investment options available to you/your client and the level of fees paid.

In Wealth Accelerator Core, the investment options are:

  • term deposits;
  • managed funds in the Netwealth Global Specialist Series (‘GSS funds’);
  • certain managed models available through an approved managed account service (‘Managed Account’); and
  • other investments made available from time to time by us for Wealth Accelerator Core.

In Wealth Accelerator Plus, the investment options are:

  • term deposits;
  • an extensive menu of managed funds (including the GSS funds) and other types of managed investments;
  • a wider range of managed models available through a Managed Account;
  • ASX listed securities (including certain warrants and exchange traded funds);
  • international securities listed on overseas exchanges as approved from time to time by us;
  • securities listed on other exchanges as approved from time to time by us;
  • other investments made available from time to time by us for Wealth Accelerator Plus;
  • eligible non-custodial assets such as private equity limited partnerships and internationally domiciled managed funds; and for Wholesale Clients:
  • a range of additional investment options available through the Premium Service.  

More information about these investment options is provided in this Portfolio Service Guide 1a. Details of specific investment options available in the Wrap Service are set out in the Investment Menu, which is available in the ‘Forms and documents’ section of our website or from us, free of charge, on request.

You can choose to invest in any combination of investment options to best meet your/your client's personal investment objectives and strategies. Netwealth have the discretion to not allow any particular investment to be held or administered using Wealth Accelerator.

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Let us help you with your query. You can contact us on 1800 888 223, or email us at contact@netwealth.com.au

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