Opening a Wrap IDPS account for your client

The following investors may be eligible to open a Wrap IDPS account:

• sole traders
• individuals over 18 years old
• joint account holders
• companies
• incorporated bodies (e.g. strata bodies corporate, trade unions and some social or sporting associations)
• unincorporated bodies (e.g. registered charities) trustees, including trustees of self-managed superannuation funds (SMSFs), and deceased estates.

To understand which investors the Wrap IDPS product is suitable for, please read the IDPS Target Market Determination (TMD).

We require your client to nominate a current email address and mobile phone number for the purposes of receiving notices and information about their account. You must ensure your client’s email and mobile phone number remain up to date. If any of their details change, you can update these by notifying us.

As your client’s mobile phone number is used for identification verification purposes, you can’t update this online and you or your client will need to contact us via chat.

Macquarie Wrap is an investment platform designed to manage a range of asset types. The online application is the fastest way to open accounts for your clients. For more information about the online application tool see the FAQs.

To open a Macquarie Wrap account on behalf of your client: 

1. Log in to Adviser Online
2. Select Applications and click Open an account and then Open Wrap
3. In stage 1, enter your adviser details and the application type (Email your client/s or Print, sign and upload)
   • Email your client/s will mean an email will be sent to your client/s to accept the terms and conditions electronically
   • The Print, sign and upload method will require you to print a copy of the application form, have your client sign it and then upload the signed version to have the account established. If you’ve selected the Print, sign and upload option, you’ll notice red asterisks against questions that need to be answered prior to generating the form for your client to sign. All other questions can be answered after uploading the signed form, but before submitting the application
   • Enter the product details and Continue your application.

4. Enter your client’s details in the primary applicant fields. If your client is an existing Macquarie client, you can search for them, otherwise enter their details as required. 
   • If you're applying for an Investment account, you have the option to set up your client investor status as retail or wholesale. Where the client's investor status is retail, you will need to confirm personal advice has been provided recommending the applicant's acquire the product.
   • If you’re applying for an Investment account, you also have the option of applying for a Macquarie Cash Management Accelerator Account (Accelerator) as part of this application.
   • Please note, if your client is opening a Super or Pension account, you can enter the details of any rollovers in the product details section.

5. Next, enter any adviser fees you have agreed on with your client and select Next.
6. Enter the details to verify the client and select Next.
7. If you’ve selected the Print, sign and upload option, this is where you can download the client authorisation to be signed. You won’t be able to select this option if there are fields with a red asterisk that haven't yet been completed. Once signed, upload the documents, and select Next.
8. If you’ve entered the details of a rollover to be requested, you will receive an authorisation code to your registered email address. Enter that code here and the details of the best contact for the application. 
9. When ready to submit, select Finish Application.
10. If you’ve selected the Email your client/s acceptance method, your clients will receive an email to confirm the application.

If your client has an existing Macquarie Cash Management Account (CMA), they may elect it to be linked to their new Wrap IDPS account as part of the wrap account application process.  If this election is made, their CMA will be converted to a Wrap Cash Account.

If the CMA was previously linked to a wrap account, you won’t be able to re-link the CMA to a new wrap account.

To open under power of attorney (POA), tick the box stating you’re opening under Power of Attorney. The POA will be required to accept the terms and conditions on behalf of the client. See more information on POA requirements.

To open an account for your client, you’ll be required to verify your client’s identity within the client verification section of the online application. You’ll need to verify their identity using the following sources of identification:

• One primary identification document, or
• Two secondary identification documents: one document from Category A and one from Category B.

See Verifying your identity via certified documents in Personal Help Centre for the list of primary and secondary identification which can be verified by an AFSL holder or authorised representative.

The application requirements vary depending on the application type:

• Individual and joint applications
• Unregulated trust (e.g. family trust)
• Self-Managed Super Fund (SMSF)
• Company or business
• Sole trader
• Incorporated association or bodies

You can make amendments to wrap applications via Adviser Online:

1. Log in to Adviser Online
2. Select Applications and click Wrap pending applications
3. Select the application you want to amend
4. Click through to Stage 6 and select Make changes.

This will allow you to edit the application. As mentioned above, your client will still need to sign the final version before it can be submitted successfully.

For Print, sign and upload applications, anything marked with a red asterisk in the initial stages will be locked after you’ve printed the application. If you or your client want to make any changes, select Make changes in the application screen. Please note, this will void the previous version of the application and require your client to re-sign the new version created.   

We won’t accept any amendments made in pen or pencil under any circumstances. 

Once your client’s signed application has been submitted, any further amendments will void the application. When this happens, you’ll need to create a new application. 

Once the account is open, we’ll send a welcome email to your client so they can view their account information online.