The guide explains how advisers and clients can open a Super Accelerator account with Netwealth, including application methods and required disclosures. It details rollover options from other super funds, nomination of a bank account for payments, and the two product options: Super Accelerator Core and Plus, which differ in available investment choices and fees.
For all required reading regarding your Netwealth account, please read the Service Guides for Super Accelerator.
How do I apply for a Super Accelerator account as a client?
To apply to open a Super Accelerator account, you first need to read the Disclosure Documents.
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 contribution amount however Netwealth may at our discretion refuse to accept initial contributions of less than $10,000.
Contributions to your account can be made by Electronic Funds Transfer (‘EFT’), BPAY® or direct debit.
Contributions made by direct debit are processed directly to your cash account, when it has been established. Your funds remain in your cash account until you select from one or more of the available investment options.
How can I rollover from another superannuation provider?
If you wish to rollover a benefit from another superannuation provider, you can include the details in your online application or complete the ‘Rollover/transfer request’ form contained in the relevant Application Forms Booklet and send it to us with your application. Alternatively, you can wait until after you have opened your Super Accelerator Personal Super account and then initiate a rollover from another fund through your Netwealth online account.
You can also transfer investments into your account in the form of an in-specie contribution.
Things to consider when rolling or transferring your super
When you rollover or transfer your superannuation to Super Accelerator, your entitlements under your previous superannuation fund may cease. You should consider all the relevant information before you make a decision to rollover or transfer your superannuation. This may include:
- fees that will apply on transfer, including withdrawal fees from your previous fund and transaction fees and costs on acquiring new investments in Super Accelerator; and
- impacts on your death and disability benefits. You may lose some or all insurance entitlements you have in your previous fund, you may have to meet medical requirements before being covered by insurance provided using Super Accelerator and your insurance premiums may change.
How do I nominate a bank account?
When you open your Super Accelerator account, you can provide details of your nominated bank account. Your nominated bank account is an account you hold with an Australian financial institution which will be used to receive lump sum benefit payments or income stream payments from your Super Accelerator account.
You can nominate or change your nominated bank account through your online Super Accelerator account or by submitting a form to us. You must only nominate a bank account that is held in your name or a joint bank account of which you are one of the account holders.
You must not instruct us to make payments to accounts held in the name of a third party.
What are the Customer Due Diligence (CDD) requirements?
Before an application can proceed to Customer Due Diligence (CDD), the following Anti‑Money Laundering (AML) information must be collected. If any of these fields are missing, Netwealth cannot continue and will need to contact you to obtain the outstanding details.
Required AML Information:
- Any other names the client is known by (e.g., previous names, aliases),
- Occupation,
- Expected use of the account (must be selected from the predefined list),
- Source of funds (origin of the money being deposited into the account),
- Source of wealth (how the client accumulated their overall wealth), and
- Country of birth.
Income Stream Accounts – Mandatory ID Requirement
For Income Stream (pension) accounts, identity verification is mandatory before the application can progress.
This means:
- ID must be received upfront (e.g., driver licence, passport, or other acceptable identification)
- The application cannot be set up or submitted for CDD until the required ID has been provided.
- This requirement applies in addition to the AML data fields listed above.
If you are unsure what documents are accepted, please refer to the document certification guide.
What are the differences between Super Accelerator Core or Super Accelerator Plus?
Super Accelerator offers two product options. You have a choice between Super Accelerator Core and Super Accelerator Plus. When you complete your application, you must choose which of these you want. Whichever you choose will apply to all investments you make in your Super Accelerator account. You cannot use both product options for a single account. Your choice determines the investment options available to you and the level of fees you pay.
In Super 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 Super Accelerator Core.
In Super 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; and
- other investments made available from time to time by us for Super Accelerator Plus.
You can choose to invest in any combination of investment options to best meet your personal investment objectives and strategies. Netwealth have the discretion to not allow any particular investment to be held using Super Accelerator.
There is no minimum initial deposit amount however Netwealth may refuse to accept initial deposits of less than $10,000.