Read about recent updates in the March Digital Download 2022

This month, we’ve released several platform and product enhancements to create an even better digital experience for you and your clients. These include real-time incoming payments for cash accounts via our New Payment Platform, giving your clients greater flexibility to do more with their money. We’re also making some improvements to Adviser Online and Request Centre to make it easier to work with us.

Michelle Weber

Head of Wealth Product & Technology

Monthly focus

• Real-time incoming payments are now live for cash accounts, giving your clients greater flexibility to do more with their money
• Improving Adviser Online to give you more information about your clients account details
• We’ve made some changes to our CMA and Term Deposits to help keep you and your clients against fraud

What's new

Giving your clients greater flexibility to do more with their money

Clients can now receive real-time incoming payments on all cash accounts via the New Payment Platform (NPP). NPP is a complimentary service enabling clients to receive real-time incoming payments directly into their account, simply by providing the BSB and Account Number to the payer. This is the first stage of our NPP launch; later in the year we’ll be rolling out the ability to send real time payments.

Improving Adviser Online to give you more information about your clients account details

We’ve uplifted the Account Details page for cash accounts in Adviser Online to give you greater visibility over your clients account details. You’ll now find links to pre-filled forms you may need, making it easier for you to locate and complete the forms. BPAY and SWIFT copy functionality is also available on this page, giving you and your clients more payment options. With SWIFT copy functionality you can copy your clients account details into your clip board, which makes it easier for you to make international transfers.

Keeping you informed of your requests in Request Centre

You and your clients can now receive notification alerts for certain requests that are completed in Request Centre (excluding cash applications and generic requests). Notification alerts were previously limited to digital requests, such as updates to TFNs and pension payments.

Keeping you and your clients protected against fraud

We’ve made some changes to our CMA and Term Deposit products to help keep you and your clients safe and to increase protection against fraud. Please see these changes below:

1. We require a valid Australian mobile phone number for your client for all new online CMA and Term Deposit applications. The mobile number is required to keep clients’ accounts safe and secure. It will be used for clients to transact online and to help us keep clients informed.
2. We require a valid driver’s licence or passport for your clients as part of the online CMA application. This change only applies to new online CMA applications.  
   
3. On CMA and Term Deposit Designated Accounts you can now:
   
   • Establish a once-off or recurring direct debit to credit a CMA. We require a bank statement for all values of direct debits for CMA Designated Accounts, before the direct debit request is established. This update helps protect clients from fraud as we have more information about the destination account.
   • Designated accounts on Term Deposits can now be updated during any time of the term. We require a copy of the bank statement for the previous Term Deposit designated account, for it to be updated at any time during the term. This change will further protect you and your clients from fraud as the person requesting an update of the designated account has access on the initial designated account.

Reminder: Proforma CMAs no longer accepting deposits

As mentioned in the February Digital Download, we want to remind you that we’re no longer able to accept deposits into Cash Management Accounts (CMAs) before the account is fully opened (i.e. in Proforma status). This means that you and your clients can’t deposit funds into CMAs until the application has finalised. The reason for this change is because we’ve received updated guidance from the ATO which we must follow for FATCA & CRS purposes.

What's next?

Manage your advice fee arrangements and reporting for Wrap accounts in Adviser Online

Next month, we’re releasing our Advice Fee Consent Reporting page on Adviser Online. You’ll be able to view your client’s advice fee arrangements for Wrap accounts and manage your advice fee reporting all in the one place.

Within this page, you’ll also be able to:

• view a report of when consent is due
• see when consent has expired for your fee arrangements
• renew fee arrangements by generating the digital fee form and requesting your client’s consent
• generate and download a CSV report to help sort and filter for various options such as due dates of consent, investor status and more.

We’ve listened and we’re delivering – new enhancements to Request Centre

Request Centre is a faster, easier, and more secure way to submit requests. Since our launch, we’ve been listening to your feedback and we’re committed to delivering some significant improvements that you’ve asked for. These include: 

• increased file size so you can upload a wider range of supporting documents
• create a new cash or wrap account request via the ‘Quick Links’ dropdown menu
• new filters so you can find a case in Request Centre which has already been submitted.

Introducing a faster and easier way to make Adviser Initiated Payments (AIP) on Adviser Online

Soon you won’t need to select a client upfront when making a payment on Adviser Online. You’ll simply be able to make the payment from the relevant account. As part of this uplift, we’re also resolving several bug fixes so you’ll experience less issues when making payments.

This is the first of many uplifts in our payment capability. In the coming months, we’ll also be introducing:

• Macquarie Authenticator for end client approval. This means that the client can approve AIP’s via a push notification they’ll receive if they have downloaded the Macquarie Authenticator app.
• a new ‘Payees and Billers’ screen
• a more seamless navigation between the payments screen and manage payments screen.

Helpful Resources

Top three searched Adviser Help Centre articles

1. How can a client demonstrate Nexus to Australia?
2. How can I make Adviser Initiated Payments (AIP) from the cash account?
3. How can I see my client’s fee summary?

Recently added Adviser Help Centre articles

1. How can my client make a re-contribution of COVID-19 early release super amounts?
2. What is unclaimed money (UCM)?
3. Launching real-time payments on the Cash Management Account

Monthly tips & tricks: Helping you with electronic signatures

As we move to more digital methods of communication, we can accept electronic signatures. Electronic signatures allow a representation of a signature to be used that’s been created by the software. We have a range of articles on Adviser Help Centre with more information about how to use electronic signatures.

Did you know?

• ·You can use an electronic signature for Macquarie Wrap, CMA, CMA Accelerator and Term Deposit Accounts.
• We can accept forms that have been electronically signed by the following electronic signature providers: Adobe Sign, DocuSign, Conga, Iress Digital Signature, OneSpan.
• In addition to an electronic signature, we’ll also need an electronic signature provider’s Certificate of Completion sent from your email (or your email domain). Alternatively, the signature and Certificate of Completion can be sent from your client’s email
• You won’t be able to use an electronic signature for forms that need to be sent to a third party or need to be certified or witnessed. 

For more information about using electronic signatures, please visit our Adviser Help Centre.

We've added more managed investments for you to choose from

The choice of managed investments and SMAs continues to grow so you can offer your client a highly tailored investment portfolio. Choose from 700+ managed investments on platform and 170+ SMAs across 40+ SMA managers.

New Managed Investments (1 March 2022)

Watch and learn our videos on Help Centre

Our Help Centre article, ‘How do I use Adviser Online?’ contains all of our training videos to help you use Adviser Online.

Request Centre

Request Centre allows you to submit and manage requests in a faster, easier, and more secure way.

Need help?

Get in touch with us if you’d like any more information on any of these updates.