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How do you apply to become a wholesale client?

For all required reading regarding the Wholesale product, please find the PDS here.

To become a wholesale client, you/your client first need to meet the criteria of using the Wealth Accelerator product as:

  • a ‘wholesale client’ as defined in section 761G(7)(c) of the Corporations Act 2001 (Cth)
    (‘Corporations Act’), in which case we require that you represent that your Wrap Service
    account is not for use in connection with a business and that you provide a certificate given
    by a qualified accountant stating that you have net assets of at least $2.5 million, or a gross
    income of at least $250,000 for each of the last two financial years. The certificate must have
    been given no longer than two years before your application and needs to be renewed at
    least every two years from the date it was issued;
  • a company or trust controlled by a person who qualifies for, and provides, an accountant’s
    certificate described above;
  • a ‘professional investor’ as defined in the Corporations Act, which includes, among others, a
    person or entity who controls gross assets of at least $10 million; or
  • a 'sophisticated investor' as defined in the Corporations Act, who qualifies, based on their previous experience (Employment and Education experience) in using financial services that allows the client to assess the merits, values and risks of the product and service and the information provided to them
  • a person determined by us not to be a retail client on some other basis. 


Provisions of becoming a wholesale client

Accountant signed certificate

Alongside qualifying with the criteria, Netwealth requires an Accountant signed certificate to confirm this status and apply wholesale status to your/your client’s Netwealth account. Specifications of the accountant signed certificate is as follows:

  • Provide an individual accountant certificate, if there are multiple signatories on the Netwealth account, one application for each investor is required.
  • If only one signatory meets the criteria, this investor can be listed on the accountant certificate with the entities they control. A certificate of control can be used to state the investor controls the entity and will need to be signed off by the other non-wholesale signatories to allow the account to be treated as wholesale.
  • You cannot use a certificate of control on a joint account (an entity is required).
  • OR an entity could be listed as the wholesale investor on the accountant certificate.

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