Closing an IDPS account

To close an Investor Directed Portfolio Service (IDPS) account, the client must provide an explicit closure instruction listing:

  • Account name and number
  • Crediting account details
  • Signature of the account holder(s) – signed in accordance with the signing instructions.

You can search for a 'closure form' in Advisor Tools or download below for the following products:

How long will this take?

Closing an IDPS account generally takes around six days (where clients hold a combination of cash and assets); however, factors like selling or transferring assets can extend the closure timeframe.  

Processing times begin only when all necessary requirements for a request have been received. To avoid delays, please ensure all forms are completed, and supporting documents uploaded, before submitting the request.

For information on how to avoid delays, please see Close a Wrap account.

What's the adviser's role?

As an adviser before requesting to close an Investor Directed Portfolio Service (IDPS) account, you must:

  • Sell down or transfer all assets
  • Ensure all transactions have finalised
  • Turn off automatic investment plans
  • Cancel Dividend Reinvestment Plans (DRP)
  • Consider outstanding corporate actions that may be on the account.

View closure forms on Adviser Tools. You can see the Corportate Actions Calendar and find more information about upcoming actions.

What happens to your client's Accelerator account?

If your client specifically elects in their closure instructions to convert their IDPS cash account to a standalone CMA, then they will be able to keep their Macquarie Cash Management Accelerator Account (Accelerator) account. 

If your client closes their IDPS account without specifically electing to convert their cash account to a standalone CMA, the Accelerator account will be closed as well. 

The Accelerator account needs to either be linked to a standalone CMA or IDPS account.

What happens to your client's Macquarie Vision Savings account?

If your client closes their Macquarie Vision Wrap account, their associated Macquarie Vision Savings account will be closed as well.

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