Group and manage Wrap accounts in Adviser Online

You can group up to eight of your clients’ accounts together to make them easier to manage.

For Reporting groups, this can be done via Adviser Online. However, for Fee and Statement groups or mixed groups (i.e. Fee/Statement/Reporting), you can use the Fee form which can be found  at Adviser Tools by searching ‘account grouping’.

Grouping can be useful when a client or their entity holds multiple Wrap accounts. Your clients won’t be able to see the other accounts in their account group unless you request otherwise (see below).

Reporting Group

You can generate reports across different products for up to eight accounts within the group. This includes a Portfolio Review report for the nominated group.

An account can be in multiple reporting groups. 

Fee Group

When grouping accounts for fees, these accounts will be automatically grouped for administration fees and advice fees (if applicable)

Administration Fees:

• You can group up to eight accounts of your client’s relevant family members for fee aggregation. Tiered administration fees will be calculated on the total applicable balance of the grouped accounts.

Advice fees:

• You can choose to apply advice fees against groups of the same account type. You can also set an adviser service fee for each individual account not part of the group. When grouping accounts for advice fees, these accounts will be automatically grouped for Administration fees as long as they satisfy the conditions outlined above.
• Tiered adviser fees loaded to the group are first calculated on the total Funds Under Administration (FUA) balance of the FUA of all accounts and then pro rated to each account in the account group based on the proportion of FUA held in each account by default. 
• For accounts grouped for fees containing non super accounts, you can also elect the % split of fees to be charged per account instead of being pro rated. Flat adviser fees for grouped accounts will be pro rated by FUA across the accounts in the same account type.
• Read more in Fee aggregation.

Statement Group

You can group accounts to receive a consolidated statement covering all accounts within the group. You’ll need to nominate a primary account to receive the consolidated statement for the account group.  

Read the relevant section below for instructions on how to manage your account groups through Adviser Online by hovering over Clients in the side navigation and selecting Wrap groups.

Please note you need full transact access to create and edit account groups.

The Grouping form to create and amend Fee and Statement groups can be found at  Adviser Tools by searching for ‘account grouping’.

Your clients will only see accounts linked to their Access Code. They won’t be able to see other accounts in their group. This gives you and your client comfort that clients can benefit from any applicable account grouping fee discounts while also ensuring they’re not sacrificing their own privacy. 

If your clients want to give another individual access to view their account, they still have that option. They’ll just need to complete a Third Party Authority form confirming their authorisation to us.  

This form can be found at  Adviser Tools by searching for ‘third party authority’ in the search bar.