How do I close a wealth account?

  1. Adviser to sell down (if applicable) from managed portfolios and Self-Directed Portfolio (SDP).

  2. Adviser to complete Account Closure Form
  3. Adviser to email Account Closure Form to plus relevant transfer forms if in-specie transferring out.

  4. System crystallises accrued fees for managed portfolios the following business day.

  5. System crystallises flat fees for SDP at the end of month (E.g. Account keeping fees). Within the month, Mason Stevens can arrange partial withdrawals from the account however $2000 must be left in the SDP until the end of the month for fee crystallisation. Please discuss with our team should this be required.

  6. Final calendar day of the month: fees are crystallised

  7. If there is income due, Mason Stevens to wait and make another withdrawal. If there is no more income due, ‘final withdrawal’ is selected and funds paid out.

  8. After final withdrawal has been made: Mason Stevens set SDP with $0 cash to ‘closed’.