Grouping and managing Macquarie Wrap accounts in Adviser Online

You can group between 2 and 8 of your clients' accounts to streamline reporting and for fee purposes. Grouping unlocks three key advantages:

• Consolidated reporting: Generate a single, comprehensive report that covers all accounts in the group.
• Reduced administration fees: By combining balances, your clients can:
  • qualify for lower administration fee tiers faster (Macquarie Wrap Consolidator II Elevate), and/or
  • receive a discounted account keeping fee (Macquarie Wrap Consolidator II Elevate & Engage).
    
• Grouped advice fees: You have the option to calculate your advice fees based on the total balance of the entire group.

Account eligibility and reporting

Only active accounts can be added to a group when creating a group. However, if an account was active during the group's creation and subsequently closed, it can still be included in group reports.

Your clients won’t be able to see the other accounts in their account group unless you request otherwise. See Request to view other accounts in the group.

Reporting groups established in Adviser Online are directly leveraged by Report Builder for generating group reports. Report Builder can instantly utilise these existing groups, eliminating the need for ad-hoc group creation. By default, all active accounts within a created group (up to a maximum of 8) will be selected when generating a report.

For more information see Using Report Builder.

Reporting group

You can generate reports across different products within the group.

An account can be in multiple reporting groups.

For more information on how group performance reporting works, see Understanding performance reporting.

For more information on how to generate group reporting via Report Builder, see Using Report Builder.

Fee group

When grouping accounts for fee purposes, the accounts will automatically be grouped for both administration fees and advice fees (if applicable).

Administration fees:

For information on the administration fee discounts that may apply when grouping accounts, see Understanding administration fees and the wrap fee calculator.

Advice fees:

• Macquarie Wrap accounts only: Advice fees can be submitted per account using the Advice Fee Form. In the Advice Fee Form, you can choose for your advice fee/s to calculate on fee group balance or individual account balance.  
• Macquarie Vision accounts only: Advice fees for Vision groups can be applied and updated using the Macquarie Vision Fee grouping form. When applying advice fees that calculate on the group balance,  all accounts within the group must have the same advice fee structure. If you would like to group Vision accounts for administration fees only, please use the Macquarie Vision grouping form to create the group and the Advice Fee Form to apply your adviser service fee/s to each individual account in the group.
• Tiered advice fees loaded to the group are first calculated on the total Funds Under Administration (FUA) balance of the FUA of all accounts and then prorated to each account in the account group based on the proportion of FUA held in each account. Flat advice fees for grouped accounts will be prorated by FUA across the accounts in the same account type. For Macquarie Vision accounts grouped for fees containing non super accounts, you can also elect the % split of fees to be charged per account instead of being prorated.

Read the relevant section below for instructions on how to:

• create a Wrap group
• edit a Wrap group
• delete a Wrap group
• check my client’s accounts are grouped
• request to view other accounts in the group