Making an internal transfer of Separately Managed Accounts (SMA) assets

SMA transfers are available for: 

• IDPS to IDPS
• IDPS to super or pension
• super to pension
• pension to super
• super to IDPS.

SMA transfers are not available for: 

• any product to or from Consolidator Engage.

• The assets must be available on the applicable Investment Menu to be held on platform.
• If the assets you're seeking to transfer into the SMA are not consistent with the SMA portfolio(s) weightings, those assets will be sold to re-align with the target weightings.
• Any assets you've selected to partially transfer out of the SMA may be subsequently repurchased. This will occur as part of the ongoing SMA rebalancing:
  • When an SMA customisation is applied, it’s specific to that wrap account and doesn’t carry across when an SMA is transferred to another wrap account.
  • If you want to prevent the purchase of a particular security, refer to Customising Separately Managed Accounts.
• All transfers into or out of fund superannuation accounts will occur as a change of beneficial ownership (CBO) transfer and will trigger a CGT event. This is because the beneficial owner of the account is the superannuation plan, not the member (e.g. super to IDPS and IDPS to super or pension).
• Transfers count towards the applicable contribution cap(s) and are subject to superannuation rules as outlined in the taxation and superannuation law.
• The client’s Tax File Number (TFN) must be provided before we are able to accept any personal contributions into their super account.
• For pension accounts, please ensure you don't exceed the transfer balance cap. Pension starting values are calculated after all assets, rollovers and/or contributions are received, and may differ to the initial transfer value due to market movement.
• When in-specie transferring assets out of an SMA, please ensure the minimum SMA holding requirement is maintained.
• If transferring out all assets and closing your SMA, all assets must be available on the applicable investment menu. If the asset isn’t accepted on the applicable menu, it will be redeemed and the proceeds will be transferred to the destination account.
• If your SMA has unsettled trades or incoming dividends, this may extend the time to process your request.

Transferring assets into, out of, or between SMAs within the same wrap account is available for all products via Adviser Online. 

Please note:  online requests can only be submitted by an adviser or individual with ‘Full transact' authority.

1.  Log in to Adviser Online
2. Search for the account using the global search bar
3. Navigate to Account Details
4. Select SMA asset transfer in the Forms tile on the page
5. Select the type of transfer and follow the prompts to complete the request
   • For specific asset selection, you can make your election asset by asset or elect either a dollar or percentage amount to be transferred. The request will pre-populate the form and proportion this across all assets held. You can amend what the form has pre-populated prior to the following step.
   • The transfer will be based on the number of units entered
6. Review and submit the request
   • For transfers involving more than one SMA, you’ll need to submit a separate digital request for each transfer.

To transfer an SMA between IDPS accounts, please complete the Asset Transfer form with the following:

• Section 1 – Current Account Details
• Section 2 – In-specie Transfer Buyer and Seller Details
• Section 4 – Asset(s) to Transfer
  • If completing a partial transfer, provide the list of assets and units, as well as any cash you’d like to transfer out of the SMA
  • If completing a full transfer, specify the SMA details and elect the ‘Full holdings’ option.
• Section 5 – Declaration and Signatures is required to be signed by the account owner if the account owner is submitting the form, or if you’re submitting on behalf of a client and you don’t have ‘Full Transact’ authority.

Once all transfer paperwork is completed and signed by your client or relevant parties (where applicable), an adviser or individual with ‘Full transact’ authority can upload it via Request Centre in Adviser Online.

To transfer an SMA from an IDPS account to either a super or pension account, please complete the Asset Transfer form with the following:

• Section 1 – Current Account Details
• Section 2 – In-specie Transfer Buyer and Seller Details
• Section 4 – Asset(s) to Transfer
  • If completing a partial transfer, provide the list of assets and units, as well as any cash you’d like to transfer out of the SMA
  • If completing a full transfer, specify the SMA details and elect the ‘Full holdings’ option
• Section 5 – Declaration and Signatures is required to be signed by the account owner if the account owner is submitting the form, or if you’re submitting on behalf of a client and you don’t have ‘Full Transact’ authority.

Additional documents will be required for transfers into super/pension depending on whether the transfer is completed as a rollover or contribution.

Once all transfer paperwork is completed and signed by your client or relevant parties (where applicable), an adviser or individual with ‘Full transact’ authority can upload it via Request Centre in Adviser Online.

This is completed as part of the super to pension switch functionality using the online switching tool, which will be electronically approved by the client. The functionality allows clients to switch both from super to pension and pension to super.

See Switching between Super and Pension accounts.

To transfer an SMA from a super account to IDPS, please complete the Asset Transfer form with the following:

• Section 1 – Current Account Details
• Section 2 – In-specie Transfer Buyer and Seller Details
• Section 4 – Asset(s) to Transfer
  • If completing a partial transfer, provide the list of assets and units, as well as any cash you’d like to transfer out of the SMA
  • If completing a full transfer, specify the SMA details and elect the ‘Full holdings’ option
• Section 5 – Declaration and Signatures is required to be signed by the account owner if the account owner is submitting the form, or if you’re submitting on behalf of a client and you don’t have ‘Full Transact’ authority.

Once all transfer paperwork is completed and signed by your client or relevant parties (where applicable), an adviser or individual with ‘Full transact’ authority can upload it via Request Centre in Adviser Online.