Requirements to transfer assets in or out of my client’s account

A smooth and seamless transition of assets is an essential element helping to form your clients’ experience. To help you transfer assets for your clients, we’ve listed some articles below of some of our most used functions. 

We can facilitate the following types of transfers into your client’s Wrap account: 

• Listed securities from Issuer Sponsored Holdings (SRN)
• Listed securities from Broker Sponsored Holdings (HIN)
• Managed funds from direct holdings (held directly with fund manager)
• Both managed funds and listed securities from an external platform custodian
• Domestic fixed income securities.

Generally, your client will have to complete and sign a specific type of transfer form depending on the type of transfer.  

The following steps should then be followed to process a transfer: 

1. The form(s) should be sent to us to arrange the transfer on behalf of the client
2. We’ll contact each external provider on behalf of the client and arrange the transfer of assets with each one
3. Once the transfer has been arranged with the external provider, the assets are then transferred.

When in-specie transferring assets into the Grow Wrap or Voyage platform, the purchase price or consideration amount can be any amount that falls within 5% of the closing price on the elected date of purchase. 

The date of purchase must be within 60 days of when our team receives the transfer documents for processing and if this is a new account, the date of purchase must be a date on or after the account open date.  

Note that this isn’t the case for superannuation and pension account contributions as the trustee determines the contribution date and closing market price for contributions that occur via in-specie transfer. In this case the consideration and date of purchase will be the date that we receive all completed transfer paperwork.

Here’s what is covered in transfer into investment accounts from an external source:

• Transfer in broker-sponsored securities (HIN Transfer)
• Transfer in issuer sponsored securities (SRN Transfer)
• Transfer in broker sponsored securities and/or managed funds from an external platform or custodian
• Transfer in managed funds from direct holdings
• Transfer in domestic fixed income securities
  
• Limited Power of Attorney (LPOA) transfers.

Here’s what is covered in transfer into super or pension accounts from an external source as a rollover:

• Transfer in of broker sponsored securities as rollover
• Transfers in from an external platform or custodian as rollover
• Transfers in of issuer sponsored securities as rollovers
• Transfers in of managed funds from a SMSF as a rollover.

Here’s what is covered in transfer into super or pension accounts from an external source as a contribution:

• Transfer in of broker sponsored securities as a contribution
• Transfers in from an external platform or custodian as a contribution
• Transfers in of issuer sponsored securities as a contribution
• Transfers in of managed funds from a SMSF as a contribution.

Here’s what is covered in internal transfers:

• Transfer assets between Investment accounts 
• Transfer assets from Super or Pension accounts to an Investment (SMSF) account (rollover) 
• Transfer asset from Investment account to Super or Pension account (contribution)
• Transfer asset from Investment account to Super or Pension account (rollover)
• Switch my clients account between super and pension.

Here’s what is covered in SMA transfers:

• Transfers between IDPS to IDPS
• Transfer from IDPS account to Super or Pension 
• Transfer from Super to Pension 
• Transfer In-specie underlying assets between SMA and linked wrap account.