What is a Wrap account?
Macquarie Wrap is an investment service which draws all of your investments together around a central cash flow account. This enables the easy administration of your investments as all buying, selling, reporting and maintenance of investments held in your account occurs in one place.
Please note, you must have a financial adviser to open a Macquarie Wrap account. For help finding an adviser, please see our Managing your wrap page.
Macquarie Wrap Solutions ABN 66 002 867 003 (Macquarie Wrap) offers Wrap services via a range of Wrap products designed for investors who are looking for:
- access to a broad range of investment options
- consolidated reporting, and
- someone else to manage the paperwork related to their account.
You also benefit from online access to your account details and tax-efficient features, all supported by Macquarie Wrap’s leading-edge technology and deep technical know-how.
By keeping all your investments in one place, your adviser can quickly respond to investment opportunities and changes in the market.
For more information about opening:
- a Macquarie Wrap investment account, see here
- a Macquarie Wrap superannuation and pension account, see here.
For more information on the application process click on the relevant section below.
Joint account holders can individually or jointly transact on and make changes to the account. Joint accounts (including SMSF) can be set up during the application process.
Once an account has been opened in a person’s name, it can’t be converted into a joint account, but account holders can provide a third party with authority to view or transact on their account after the account is opened.
Once we receive your application, we’ll open your account as soon as we can. The timing depends on how quickly we can verify your identity (see below) and assess your application, and we’ll get in touch if we need any further information to complete the process.
We’ll let you know by email if your application is successful and when your account is open and ready to use.
Before we can provide you with a financial service, it’s a regulatory requirement that we verify your identity and, in some cases, your financial information.
- How we verify your identity: We electronically validate your identity in real time with external sources, using the personal details that you supply in your application. In some cases we’ll need to ask you for further information.
- How we verify your financial information: We may ask you to provide information about your financial position and history like your income, expenses and liabilities. We do this to understand your needs and your ability to service repayments, and to comply with credit rules and regulatory requirements.
We can accept some forms that have been electronically signed. For more information, please see our electronic signature article.
Please note that you need to provide the following when using one of the above electronic signature providers to electronically sign our forms and applications:
- Electronically signed form
- Certificate of Completion issued by the electronic signature provider.
Please note we require the electronically signed form and the Certificate of Completion to be submitted from either your or your adviser’s email address.
You won’t be able to use an electronic signature for forms that need to be sent to a third party or need to be certified or witnessed. Some forms that you can’t use an electronic signature for are:
- Transfers, including
- Australian Standard Transfer Form (ASTF)
- Broker transfer request
- Domestic fixed income securities in specie transfer
- External account closure and transfer letter template
- In specie transfer limited power of attorney
- International listed securities in-specie transfer
- Issuer transfer request
- Early release of preserved superannuation benefits
- Medical practitioner statement and Member declaration
- Non-lapsing death benefit nomination
- Security interest pledge/release (We need the margin lender’s signature, but we’ll accept an electronic signature where we need your client’s signature)
- TFN Declaration.
Loading an authorised signature
You can’t use an electronic signature to load an authorise signatory. We’ll still require a wet signature to proceed with this step.
An application may be unsuccessful if your circumstances didn’t meet certain acceptance criteria or regulatory conditions for the product, or if we didn’t receive all the required documentation. We’ll let you know if we need any further information from you or if we’re unable to open an account for you.
Please contact your financial adviser if you have any questions about the status of your application. Alternatively you can contact us for assistance on 1800 025 063 (+61 2 8245 4250), 8am to 7pm (Sydney time) Monday to Friday.