The process to transfer assets out of a Wrap IDPS account to an external custodian depends on whether there is:
How do I transfer managed funds or securities out of Wrap IDPS to an external custodian?
No Change in Beneficial Ownership (NCBO)
To transfer managed funds or securities out of a Wrap IDPS account to an external custodian when there’s NCBO, you need to provide:
- For full transfer: Account Closure form with asset transfer section completed with the following:
- Client’s account name and number of account with external platform
- Confirmation of external platform registration name and mailing address
- Form signed by the trustees/directors/owners of the Wrap account
- For partial transfer: Letter of instruction completed with the following:
- Client’s account name and number of account with external platform
- Confirmation of external platform registration name and mailing address
- List of assets and number of units to be transferred
- Signed by the trustees/directors/owners of the Wrap account
Macquarie will generate additional Australian Standard Transfer Forms (ASTFs) as required to transfer the managed funds, which will be sent to the external platform/custodian to sign and used to facilitate the transfer with the fund managers.
Unless stated otherwise or unless the funds are currently terminating funds, it's assumed that the external platform/custodian will accept all funds.
Before you submit the request
- The assets must be available on the applicable investment menu of the external platform/custodian.
- Please contact the platform/custodian and provide them with any documents/information required to receive the transfer on their end.
Change in Beneficial Ownership (CBO)
To transfer managed funds or securities out of a Wrap IDPS account to an external custodian when there’s CBO, you need to provide:
1. Letter of instruction completed with the following:
- Client’s account name and number of account with external platform
- Confirmation of external platform registration name and mailing address
- List of assets and number of units to be transferred
- Signed by the trustees/directors/owners of the Wrap account.
2. Original Australian Standard Transfer form for each asset to be transferred, and completed with the following:
- Asset name, APIR code and/or Security code and number of units to be transferred
- Seller: name of the client’s Wrap account (including account number) and signed by the trustees/directors/owners of the Wrap account
- Buyer: name of the external account and signed by the trustees/directors/owners of the external account
- The consideration value.
Before you submit the request
- The assets must be available on the applicable investment menu of the external platform/custodian.
- Please contact the platform/custodian and provide them with any documents/information required to receive the transfer on their end.
Change in Legal Ownership
To transfer managed funds or securities out of a Wrap IDPS account to an external custodian when there’s change of legal ownership, you need to provide:
1. Letter of instruction completed with the following:
- Client’s account name and number of account with external platform
- Confirmation of external platform registration name and mailing address
- List of assets and number of units to be transferred
- Signed by the trustees/directors/owners of the Wrap account.
2. Original Australian Standard Transfer Form for each asset to be transferred, and completed with the following:
- Asset name, APIR code and/or Security code and number of units to be transferred
- Seller: name of the client’s Wrap account (including account number) and signed by the trustees/directors/owners of the Wrap account
- Buyer: name of the external account and signed by the trustees/directors/owners of the external account.
- Consideration: NCBO
Before you submit the request
- The assets must be available on the applicable investment menu of the external platform/custodian.
- Please contact the platform/custodian and provide them with any documents/information required to receive the transfer on their end.
What fees are charged when transferring assets off Macquarie Wrap?
There’s a $20 per asset fee charged when transferring asset out of Macquarie Wrap to an external account or holding.
This fee will be charged from the Wrap Cash account when the assets are moved off platform, or if the account is being closed, as part of the final fee calculation.
Where do I send completed transfer paperwork?
Once all transfer paperwork is completed and signed by your client or relevant parties, please upload via Macquarie Request Centre to ensure you can track your request.
For any original documentation required (as noted in the above) please mail to:
TRN: Case Reference
Macquarie Wrap
Attn: Asset Transfers
GPO Box 4045
SYDNEY NSW 2001
Related articles
-
Making an internal transfer of Separately Managed Accounts (SMA) assets -
Transferring between Wrap IDPS accounts -
Transferring from an IDPS to a Super or Pension as a contribution
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