Starting your application
- On the top right of your screen, select Create New > Account.
- Use the toggle feature to select the type of account you wish to open in Select account type. In this step by step guide, we will open a Pension account. Click Open account
- Select your name in the Adviser drop-down menu.
- Click Open account next to Pension.
- You will be taken to the Onboarding Wizard, with the navigation menu on the right hand side indicating all the sections you are required to complete. You can jump between each section, and also Save & Exit and resume the application from Work in progress.
- You are able to select a New or Existing client. For an existing client, the client detail fields will automatically populate. It is important to search for an existing client to ensure your client’s accounts are linked under the one login.
- Note: you are not required by law to provide a TFN, however if you don’t the Trustee may reject the application.
- Once information has been entered click Next step.
- Enter details of the client’s bank account they wish to their pension payments to.
- If you are rolling funds in to Mason Stevens Super, provide the rollover details as request in this section. If you are wanting to rollover from more than one fund, select Add another super fund.
- Providing the rollover details in this section will mean once the account is activate, Mason Stevens will immediately send the rollover request to the other Super Fund.
- Select the pension payment frequency and the first payment month.
- Select from the nomination payment options. Please ensure the amount you enter is an annualised amount. Any Annualised amount will be subject to minimum and pro-rata requirements.
- Select your Type of Nomination.
- For Non-binding, enter the beneficiary information.
- For Binding nominations, please upload either the standalone Beneficiary form or the Paper application form (containing beneficiary information). Binding Nominations require Witness Signatures.
Opening an account with a Self-Directed Portfolio only
- Select "No" to investing in a Managed Discretionary Account. Selecting No means that 100% of the client’s funds will be assigned to their Self-Directed portfolio.
Opening an account with a Managed Account Self-Directed Portfolio only
- Select "Yes" to investing in a Managed Discretionary Account.
- Enter a numerical value in the box next to Investment amount (indicative).
- Next to Allocation type, use the toggle feature to select $ or %.
- Enter a numerical value in the relevant Allocation boxes, apportioning your client’s cash balance across the range of Managed Portfolios they want to invest in. The system will not allow you to proceed if your investment allocation does not equal 100%.
- If you want to activate your Automatic Investment Plan tick the box for the plan to commence from account inception. If ticked, once funds are deposited in to your client’s account, as long as they meet the mandated minimums for your managed portfolios the system will automatically sweep these funds as per the allocation you set in the steps above. This is also referred to as the ‘Daily Sweep’.
- If you want to switch on the Income Sweep, you can at this step. This can also be switched on after the account is active.
- Enter an anniversary date.
- Enter an amount under Initial adviser fee either ex GST or incl. GST, and the alternative option will auto-calculate. The initial adviser fee is a flat dollar amount charged on the Self-Directed Portfolio.
- Enter an amount under Ongoing Adviser Fee, either % or $ and either ex GST or incl. GST, and the alternative option will auto-calculate. You can enter a fee on either the Self-Directed Portfolio only or managed portfolios, the ongoing fee is based on the balance of the portfolio you apply it to.
- Enter an estimated portfolio balance.
- Select the types of services that will be provided to the client over the next 12-month period.
Upload a copy of your client’s Certified ID and Bank Statement (for their nominated bank account), along with any other documents you wish to load on your client’s account. If your client is under 60 years old, you also need to provide a TFN declaration form.
Other documentation may be relevant
- Power of Attorney Supporting Documents
The Review and submit page allows you to view the percentage progress of all steps involved in the account set-up process.
- If a section is incomplete, you can click on the drop-down and click ‘Edit’ to be directed to that section.
- Submission declaration – there are two options to submit the application and for clients to accept the Terms & Conditions:
- Paper application – press the print button on the top of the screen, have the client sign and upload the signed copy.
- Online option – submit the application, clients will immediately receive their login details via email and they will need to log in to accept T&Cs.