Managing Dividend Reinvestment Plan elections

Where you receive income from listed securities and managed investments, the default payment will be in cash to the associated Wrap Cash Hub. For some investment options, you can elect to receive income as either additional units or securities or cash on behalf of your client. Where reinvestment through additional units or securities is available, this is known as a Dividend Reinvestment Plan (DRP). 

You can set up or amend your client’s DRP elections through Adviser Online.  

Please note, this is not a dividend bonus share plan (also known as dividend substitution plan), which we do not administer.

DRPs for domestic listed securities are administered by the associated registry. Elections for these securities are made to the on a best endeavours basis. The registry, and the security issuer, has discretion on final processing. The election reported by us reflects the documented election made by you and delivered to the registry. It is not a reflection of the registry’s recorded position. Please check your client’s statements and reports to validate the method of dividend receipt.

DRPs for managed investments are administered directly and not through the registry or product issuer. The unit price at which managed investment distributions are reinvested may differ from the price that would apply if your client participated directly in the fund manager’s distribution reinvestment plan.

We don’t administer DRPs for international listed securities and non-daily priced managed investments.

DRP elections are available at

• an account level
• a security level.

To make a DRP election: 

1. Log in to Adviser Online
2. Select Clients from the side navigation and select Wrap account administration from the options
3. After being re-directed to Wrap Online, select Maintain an investment account OR Maintain a superannuation account OR Maintain a pension account
4. Search for the account using either the account name or number
5. Select Enter or maintain DRP election
6. Select the asset using the white check box and click Modify
7. Choose either All Cash, All DRP, or By Stock to change the account level election
   • If you selected By Stock, you will have the option to select either DRP or Cash for available securities. Once complete, click Update.
   • If you select All Cash or All DRP, this will change the election of all securities where DRP election is available to that status. Once complete, click Update.

The election will need to be authorised before it can be confirmed. See Trading using Adviser Online for more information.

DRP elections and changes may take up to five business days to be processed and reflected with the registry. If you’ve made an election and the record date is within five business days, please contact us via live chat so we can notify the registry of the change and request an immediate update. This will be on a best endeavours basis as ultimately this is subject to the registry’s discretion.