Understanding administration fees and the Wrap fee calculator

The following table shows the administration fees applicable to cash balances for each product.

*The current administration fee can be found in the relevant product offer document or subsequent event notice.
**The current Wrap Cash Hub administration fee can be found in the relevant Super Investment Menu. 

1. The administration fee is applicable for Super and Investment accounts and is charged by the Trustee/Operator on the balance of your holdings in your wrap account, which may include the Cash Account/Hub. It is deducted monthly from the cash account and can be seen in statements and online in the transaction listing.
2. The Wrap Cash Hub administration fee or cash administration fee is charged by the Trustee of the Macquarie Superannuation Plan on the balance of member Cash Accounts/Cash Hubs and deducted from interest before it’s credited to member accounts. As the fee is deducted from interest prior to it being credited to members, a transaction listing will not be visible for this fee.

Some cash accounts may have additional fees that apply to cash balances. These are disclosed in the relevant offer document and the Super Investment Menu or IDPS Investment Menu available online.

Our Wrap fee calculator is a tool that we’ve developed to support you and your business during the process of recommending Macquarie Wrap to a client.

It has been specifically designed to help you easily assess the suitability of Macquarie’s Wrap products from an indicative fee perspective before you embark on a more in-depth assessment to determine what products best meet your client’s needs.

The Wrap fee calculator can be used to:

• auto-populate portfolio details for existing accounts by searching an account name or number
• get indicative pricing for Wrap fees (this includes platform administration fees, access fees and sub-custody fees), as well as investment costs/fees and adviser fees
• compare fees for a new or existing, single account across the product suite
• compare fees for a single account or for account group pricing (including fee aggregation)
• get an indicative quote for grouped pricing on accounts which are currently not grouped
• print PDF reports of all fees.

To access the Wrap fee calculator, simply:

1. Log on to Adviser Online
2. Under Tools & resources, click on Fee calculator.

When you have opened the fee calculator, follow these steps:

1. Select the existing Wrap account(s) you want to use in your fee calculation. You can also select multiple accounts (up to 8) or input a prospective/new client’s details to calculate fees for a group. All accounts you select will be treated as part of a single group
2. If you have adviser codes under multiple dealer codes, we’ll ask you to select the dealer code you wish to price the nominated group of accounts under
3. For existing accounts, you can adjust their current assets if required. For new accounts, you’ll need to enter their recommended assets
4. You’ll then enter your adviser fee structure if you would like an estimate of the adviser fees for the nominated accounts.

Once you’ve entered all the required information, you’ll be able to see a summary of the Wrap fees applicable across each product for your account(s). You can generate a PDF report to print this information, if required.

Select the product to see a full fee breakdown, as well as an adviser fee estimate for the account. You can also generate a PDF report to print, if required.
 

The output table in the fee calculator provides a comparison of the indicative Wrap fees inclusive of any GST, and net of any applicable Reduced Input Tax Credit for your selected account(s).

All entered accounts are treated as belonging to a single group. Fee aggregation is applied across the nominated accounts for Macquarie Consolidator II Elevate Investment Menu option.

Each column shows the following:

• Current product(s)
• Macquarie Consolidator II – Elevate Investment Menu option 
• Macquarie Consolidator II – Engage Investment Menu option 
• Macquarie Manager II 

If you’re using the calculator to determine Wrap fees for a group of accounts, note:

1. The first screen will show you a summary of Wrap fees across each available product, assuming all accounts are grouped under a single group
2. These Wrap fees comprise administration fees, access fees and sub-custody fees.

Once you’ve chosen a product name, a breakdown of the fees across each asset and account will be generated.

• In addition, an estimate of the investment costs/fees and adviser fees for the accounts will also be shown, based on your input
• The fee calculator doesn’t provide estimates for non-SMA brokerage, SMA brokerage or other incidental fees such as transaction fees or failed trade fees

Cash earnings estimates are not provided as part of the output.

Fee aggregation is a feature of Macquarie Consolidator II – Elevate accounts. It enables grouped accounts to be treated as one for funds under administration (FUA) purposes. This means that eligible accounts can reach the lower administration fee tiers faster. 

Only clients with Macquarie Consolidator II – Elevate investment menu option accounts can benefit from fee aggregation when grouped. Fee aggregation allows these grouped Macquarie Consolidator II accounts to be treated as one for FUA purposes. If you want to group for fee aggregation and reporting purposes, you can do this in Adviser Online.

Grouped Macquarie Consolidator II – Engage investment menu option accounts don’t receive discounted fees when grouped.