IN-SPECIE TRANSFER FACILITY INSTRUCTIONS

The In-specie Transfer facility enables the transfer of wholesale managed fund units and margin lending accounts from other IDPS/Wrap providers into the Wealthtrac Portfolio Service. The main benefit of an "In-specie" transfer is that it allows a transfer of investments between IDPS/Wrap account administrators without triggering any capital gains tax (CGT). To successfully effect this process please follow the instructions provided below.

• Getting Started - essential requirements to be carried out prior to commencing an In-specie Transfer.
• Forms to Complete - a list and link to the forms to be completed for successful implementation of the In-specie Transfer process.
• Submission of Forms - a summary of where to send completed forms.
• Additional Information - helpful notes to accompany the In-specie Transfer facility.
• Useful Contact Details - Wealthtrac Portfolio Service and select IDPS/Wrap provider contact details.

 

Getting Started

• You must ensure you have a Portfolio Service account.*
• Within your  IDPS, the cash account should hold sufficient funds to cover the In-specie transfer costs. It is important to note that the current cost for an in-specie transfer is $66 per individual managed fund investment. This cost includes custodian and stamp duty costs.
• For Managed Funds, you must ensure those being transferred are currently included on the Wealthtrac Portfolio Service Investment Authority.
• Complete all requirements of the Wealthtrac Portfolio Service In-specie Transfer checklist.
  
  * To immediately obtain an IDPS account number a 'Quick Set Up Facility' is available through the Wealthtrac Portfolio Service. Simply contact us on 1800 352 021 on or email us at wealthtrac@2020DIRECTINVEST.com.au with the following information:



• First Name
• Last Name
• Date of Birth
• Account Type
• State of residence
   

Forms to Complete

• The following forms are required to be completed for the successful implementation of an In-specie Transfer of Managed Funds:
  
  
  • Wealthtrac Portfolio Service In-specie Transfer Checklist
  • Wealthtrac Portfolio Service In-specie Transfer Form
  • Australian Standard Transfer Form*

  Please note the transferring institution may also require in-house forms to be completed and you should contact them prior to sending the above forms.
  
  * This form is to be completed by the custodian of the IDPS/Wrap account that is transferring managed funds that are held through an IDPS or Wrap account.




• For the In-specie Transfer of a Margin Lending Account, in addition to the above forms you will need to contact the transferring Margin Lending institution to obtain the forms they require to be completed to successfully carry out an In-specie Transfer.
  
  However, please note that original forms will need to be sent directly to the transferring provider, e.g. Colonial, and you should send copies to Oasis.

 

Submission of Forms

• For In-specie Transfers of Managed Funds all forms are to be sent to:
  
  Wealthtrac Portfolio Service
  Locked Bag 1000
  Wollongong NSW 2500



• For In-specie Transfers of Margin Lending accounts all original forms are to be sent to the applicable provider. Please refer to the 'Useful Contact Details' for the currently known provider´s postal addresses or simply contact the provider. Copies of all forms should be sent to:
  
  Wealthtrac Portfolio Service
  Locked Bag 1000
  Wollongong NSW 2500
  

 

Additional Information

• A list of currently known participating providers offering the In-specie Transfer of Wholesale Managed Fund Units into the Wealthtrac Portfolio Service are:
  
  
  • Flexiplan Investment Service
  • BT Wrap
  • Macquarie Wrap
  • Your Prosperity Ltd
  
  
  
• If you are unsure whether your client's IDPS/Wrap service is able to provide In-specie Transfers, we recommend that you contact the provider to investigate further.



• For your information, Navigator are expected to be able to provide In-specie Transfers in the future for their Personal Investment Plan. We recommend you contact Navigator to obtain an update on the availability of their in-specie transfer facility.



• A list of currently known participating providers offering the In-specie Transfer of Margin Lending Accounts into the Wealthtrac Portfolio Service are:
  
  
  • Colonial
  • Challenger
  
  
  
• What do you do when an investment is not on the investment list? :
  
  The simplest procedure would be to redeem these investments and reinvest. However, if you wish to add the investment to the list please read the following instructions.



• It is important to note that where an investment is not currently on the Wealthtrac Portfolio Service Investment Authority an in-specie transfer cannot occur unless the dealer requests that the investment is to be added to the current investment listing. The procedure to add investments is as follows:
  
  
  1. Additions to the investment listing will be made at the start of each calendar quarter provided the request is received at least one month prior to the end of the preceding calendar quarter.
  
  
  
  2. All requests should state that the investment options have been approved by the dealer as a suitable investment for financial planners, operating under the dealer's license, to recommend to their clients (i.e. that the investment options have been included on your own recommended list or similar).
  
  
  
  3. All requests should detail the exact name and APIR code (if available) of the requested investment options. Please note that Oasis will generally only consider investment options for which data is available via Morningstar, which are registered schemes and which do not have restrictive minimum investment requirements nor unduly restrictive redemption requirements.
  
  
  
  4. All requests should be accompanied by relevant documentation outlining the review process undertaken when assessing the suitability of the investment options for inclusion on the investment listing. This should also include any independent/external research that has been taken into consideration in assessing the suitability of the investment options as additions to the investment listing.
  
  
  
  5. The Oasis Investment Committee will perform its own investigation of the requested investment options to satisfy itself of their suitability as additions to the investment listing. This will include obtaining information about ratings by research organisations (i.e. van Eyk or Morningstar) and information relating to our ability to efficiently administer the investment options. Where we are unable to source information about the investment options ourselves or where we are unable to obtain a rating by a research organisation, or find a negative rating, we may request further information be supplied by the dealer.
      

Useful Contact Details

Wealthtrac Client Services
Locked Bag 1000
Wollongong NSW 2500
Phone: 1300 552 477
Fax: (02) 4228 2360
Email: contactus@wealthtrac.com.au
Website address: http://www.wealthtrac.com.au/2020

BT Wrap
GPO Box 2337
Adelaide SA 5001
Phone: 1300 366 404
Fax: (02) 9513 1080
Website address: http://www.btonline.com.au/wrap

FlexiPlan Australia
PO Box 7657
Cloisters Square
Perth WA 6850
Phone: 08 9215 5200
Website address: http://www.flexiplan.com

 

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