Direct shares service

Direct shares service

Trade online with our direct shares facility



The share trading service is available for advisers on the Wealthtrac platform. It offers real-time trading and full web-based corporate action management

You can use this service to place instructions to buy and sell shares directly in the market, take up any corporate actions that may affect your clients’ holdings, view clients’ share holdings and peruse live ASX data.

You can place orders at any time and they will be sent to market when the ASX is open.

The cornerstone of the solution is the individual Holder Identification Number (HIN) structure. This means that a separate HIN will maintained for each individual client, which allows you to maintain complete control of your clients’ share holdings.



Key features



  • Each client will be allocated an individual HIN, enabling full entitlement to corporate actions.
  • Superannuation/pension clients – access to 300 Australian listed securities on the ASX, generally based on the S&P/ASX 300 Index. In addition, a range of listed interest rate (LIRs) securities, preference shares, listed investment companies (LICs) and exchange traded funds (ETFs).
  • IDPS clients – access to all fully paid securities listed on the ASX, including warrants.
  • Ability to participate in an issuer’s Dividend Reinvestment Plan (DRP) where available.
  • Trades will be settled by applying funds from the client’s cash account.
  • Advisers can trade via either the online broker or via one of the following supported external panel brokers (via phone/fax): JB Were, RBS Morgans, Bell Potter, Shaw Stockbroking, Morgan Stanley, Smith Barney, Lonsec, EL & C Baillieu and E*Trade.
  • Online corporate action election and participation (advisers only).


Structure



  • Individual accounts will be held by the custodian, with a separate account established for each member or investor.
  • The underlying registration of the account and HIN will be in the name of the custodian. All holdings are CHESS broker-sponsored.


Adviser licensing and authorisation



  • Advisers must be appropriately licensed through their dealer to provide advice and deal in listed securities and/or warrants.
  • New investors will be required to provide their adviser with standing authority to submit trading instructions on their behalf.
  • Before submitting an investment instruction on behalf of an existing client, the adviser must ensure that he or she is appropriately authorised by the client to submit that instruction. The adviser must also keep a record of that authority.