In this month’s update, we’re explaining the changes we’ve made to our investment menu in relation to super and pension accounts, and how you can easily assess if there’s any impact on your clients.
We’re also pleased to share that we’re simplifying direct debits to fund wrap accounts leveraging our new Confirmation of Payee technology.
Read more about these updates and other product and platform enhancements below.
Michelle Weber
Head of Wrap Platform
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- Wrap direct debits made simpler from 7 November
A new form will make requests to fund a wrap account via direct debit easier from 7 November. A bank statement will no longer be required for direct debits into IDPS accounts because Confirmation of Payee technology will be used in the background to verify the name of the account being debited. Direct debits won't be processed if the details of the external account can’t be verified or the external account is in the name of a third party.
Note: Direct debits into CMA accounts will be decommissioned from 7 November.
Other important changes
- We’re simplifying our super investment menu
Effective 31 March 2026, we’re closing some investment options to new investments for super and pension accounts as part of our super menu simplification. Members will be able to keep their existing holdings in the closed investment options but won’t be able to make further investments in them.
The closures don’t affect your clients’ investments in IDPS, and any impact on SMAs will be discussed with the model manager.
We’ve communicated with all advisers who have clients with super or pension accounts to make them aware of the impact on their clients. In Adviser Online, they’ll be able to access a list of clients impacted by the closures. To find this list, log into Adviser Online, navigate to Reporting in the menu on the left side, select Client & adviser reporting, then Download files, and select 'Investment closures impact'.
Before 31 March 2026, we’ll also communicate with impacted clients.
Please refer to the Latest Fund Manager Notifications page for the list of investment options that are closing.
The super investment menus on our Product information page, which we update each month, now also show which options will be closing from Tuesday 31 March 2026. •
- We’ve updated our Target Market Determinations (TMD)
Our TMDs have been updated to ensure they remain appropriate for our IDPS, super and pension products and their intended target markets. The TMDs describe the types of clients these products are designed for, as well as any conditions that apply to the distribution of the products, and distributor reporting requirements. The TMDs are reviewed annually, and we'll let you know each time new versions are made available online. You can access our TMDs via our Design and Distribution Obligations webpage.
Discover what's next
We’re becoming a fully digital platform, giving you security, investment choice and control.
One platform: Adviser Online: We’re uplifting and transitioning foundational features (reporting, asset administration and portfolio trading) from Wrap Online to Adviser Online for a streamlined digital experience.
- Term deposit trades are moving to Adviser Online You’ll soon be able to place term deposit investment orders in Adviser Online, using our more efficient, secure, and intuitive workflow. This release will give you:
- improved efficiency: A redesigned workflow and smarter business rules will make processing term deposits faster and more straightforward. Adviser Online ensures rules are applied only where they are relevant and the maximum investment order limit of $1,999,999 on ANZ and NAB term deposits will only apply to companies (including not-for-profits and charities), trusts and partnerships.
- enhanced security: To ensure the highest level of protection, the new term deposit process will be fully integrated with the Macquarie Authenticator app for secure trading authorisation.
- improved efficiency: A redesigned workflow and smarter business rules will make processing term deposits faster and more straightforward. Adviser Online ensures rules are applied only where they are relevant and the maximum investment order limit of $1,999,999 on ANZ and NAB term deposits will only apply to companies (including not-for-profits and charities), trusts and partnerships.
- A new administration tab in Adviser Online Automated plans help streamline your operations and enable you to implement your clients' investment strategies with precision and efficiency. We're creating a new tab for all your automated plans and investment settings to deliver a unified, user-friendly and efficient experience.
A simpler digital experience for your clients is coming We’ve begun working on a new Income and Expenses report that will be seamlessly integrated directly into your clients' online banking. The new report is designed to give your clients a clearer, more accessible view of their finances, all in one place. The upcoming release is the final step in our strategic move to a fully modernised client platform, as we officially retire the legacy Client View Portal.
As we complete the transition to this enhanced experience, the following reports will be retired from the Client View Portal in 2026:
- Income Details - Cash Receipts basis
- Income Details - Accrual basis
- Unrealised Gains/Losses
- Realised Gains/Losses