Portfolio Services

Portfolio Service

CommSec Adviser Services and Colonial First State have come together to create a unique way to administer your clients’ portfolios. This innovative solution will provide a cost-effective administration service to help you manage custodial and directly held assets together all in one place.


Existing Portfolio Services offering

For assistance, please contact your BDM or CommSec Adviser Services on 1800 252 351.

Features & Benefits

efficiency

Efficiency

Portfolio Service includes a range of tools to help drive efficiencies for your business:
  • Streamlined account application process
  • Managed account1 and model portfolio solutions to help streamline your business and gain greater efficiencies in client portfolio management
  • Consolidated performance and tax reports covering custodial and directly held assets
  • Capital gains reporting and parcel selection tools to manage your client’s capital gains tax position
  • Online corporate actions management, including a mail management service
Flexibility

Flexibility

  • Licensee groups can choose to absorb the administration fee, or pass it on to clients, depending on your business model
  • Flexible advice fee options, including an ad -hoc advice fee, customisable advice fee and licensee service fee tiers, and index linking of dollar-based ongoing fees
Visibility

Visibility

  • View key information at your fingertips with an intuitive adviser dashboard
  • A range of data feeds including COIN, XPLAN, BGL, Platformplus and Class
  • Access for investors to view and print client reports
Service

Service

Enjoy superior support from our expert team every step of the way.
  • National distribution team to provide you with in-depth product and service solution
  • Ensure the smooth migration of your clients
  • Training to help your team work efficiently with us
  • Webinars to educate you on our products and functionalities
  • Single point of contact for all support
Control

Control

  • Listed securities and cash held in client's name. A perfect solution for SMSFs.

About Portfolio Service

Portfolio Service is a cost-effective and innovative solution allowing you to manage your clients’ custodial and directly held assets in one place. Portfolio Service offers an extensive range of investment options including cash, direct listed securities, managed accounts1, managed funds and term deposits.

Designed to overcome the challenges of managing assets off-platform, Portfolio Service’s combination of investment choice, functionality and flexibility will enable you to deliver outstanding service to your clients with sophisticated investment needs.

About Portfolio Service

Cash

CommBank’s Accelerator Cash Account (ACA) is one of two mandatory products, along with a CommSec Adviser Services Trading Account, required to operate a Portfolio Service. As the central cash hub within Portfolio Service, the ACA is used to fund investments, pay fees and receive all income and distributions from the investment portfolio, while also serving as your client’s everyday banking account. Your client is the legal and beneficial owner of the ACA.

 

Trading

A CommSec Adviser Services Trading Account is the second mandatory product required, along with the ACA, to operate a Portfolio Service. Building on the DNA of CommSec’s market-leading trading platform and enhanced with features for advisers, Portfolio Service enables trading of listed securities on the ASX and Chi-X Australia.  Adviser efficiency tools like ‘Multi-Stock’ and ‘Multi-Client’ trading help you save time through trading multiple stocks for a single client, or trading a single stock across many clients simultaneously.  Help inform your clients with the support research   from Morningstar and Goldman Sachs.  You will also benefit from Portfolio Service’s share registry mail management service and online corporate actions tool, taking your practice efficiencies to new heights.

 

Optional Managed Investments Account consisting of:

Managed funds

Portfolio Service provides access to custodially held managed funds, as part of the Managed Investments Account (MIA), through Colonial First State. You and your clients can choose from a range of wholesale managed funds depending on your client’s specific risk profile and investment objectives. Before selecting the best-suited fund, make sure you consider the MIA IDPS Guide and the underlying funds’ Product Disclosure Statement and our comprehensive research issued by Morningstar.

 

Term deposits

Portfolio Service also offers a range of custodially held term deposits as part of the MIA. Portfolio Service has a number of providers offering term deposits of varying lengths depending on your client's risk profile and investment objectives.

 

 

Managed accounts1

Increase your administrative efficiency by outsourcing the day-to-day management of your clients’ portfolios to professional portfolio managers. These managers can efficiently re-align your clients’ portfolios to their target weights and manage corporate actions on their behalf. Investment changes within a managed account can be implemented without the need for an additional client authority, meaning less paperwork and administration for advisers.

 

Portfolio Service Forms

Account Origination

Account Application Forms

Apply for your client's account online or standard PDF form. Please choose the form that best suits your needs.

  • 1. Online - Portfolio Service, Trading &/or Cash
  • 2. Standard PDF - Portfolio Service
    Use this form to setup a new Portfolio Service with us. Includes the application form along with an explanatory guide to assist with filling out the form.

3. Managed Investments Account Application Form

Use this form to add a Managed Investments Account to an already established Portfolio Service.

4. Portfolio Service Information Document

Contains key features and benefits of Portfolio Service including comprehensive investment choice and the consolidated reporting available.

5. Managing Your Portfolio Service

Contains additional important information about Portfolio Service and the Terms of Online Access.

6. AUSIEX FSG (Part A and B)

This document sets out the financial services and the types of financial
products that we are authorised to provide under our Australian Financial

7. Share Trading Terms and Conditions

Contains the Terms and Conditions for share trading through CommSec
Adviser Services.

8. AUSIEX Best Execution Policy

This disclosure sets out how AUSIEX meets its Best Execution obligation.

9. ACA General Information Statement

Contains important information about the Commonwealth Bank Accelerator Cash Account and Term Deposit.

10. ACA Terms and Conditions

Contains the Terms and Conditions for the Commonwealth Bank Accelerator Cash Account.

11. ACA Standard Fees and Charges

Outlines the Fees and Charges for the Commonwealth Bank Accelerator Cash Account and Term Deposit.

12. Electronic Banking Terms and Conditions

Contains the Terms and Conditions for using ‘Electronic Banking’ facilities offered through the Commonwealth Bank Accelerator Cash Account and Term Deposit.

13. Wholesale Client Form

Use this form to identify your client as a wholesale client. This form and the required supporting evidence must be submitted with the application form for commission to be paid on the Accelerator Cash Account.

14. Managed Investments Account IDPS Guide

Contains key features and benefits of Managed Investments Account offered through Portfolio Service.

15. Investment Menu

An up-to-date list of the investments available through the Managed Investments Account.

16. AIL Financial Services Guide

This document sets out the financial services and the types of financial products that we are authorised to provide under our Australian Financial Services Licence.

17. Identification Documentation Requirements

Outlines the process for certifying identification documentation including acceptable documents, how to certify documents and a list of people who can certify ID.

18. Job and Industry Classifications List

Use this form for the list of eligible Job Category and Job Types for individuals and Industry Category and Industry Type for companies and trusts.

19. Individual Tax Residency Self-Certification Form

Use this form to declare your country/ies of tax residency where it was not provided on the application form.

20. Organisation Tax Residency Self-Certification Form

Company/Trust applicants use this form to declare your country/ies of tax residency where it was not provided on the application form.

21. Individual Certification Form

Individual/Joint/Third Party Mortgagor applicants use this form to declare your citizenship/residency/tax status where it was not provided on the application form.

22. Entity Classification Form

Company/Trust applicants use this form to declare your primary business activity where it was not provided on the application form.

FSC Identification Forms

FSC (IFSA) Identification Forms to assist with client identification process.

  • 23. Individuals and Sole Traders
  • 24. Australian Companies
  • 25. Australian Regulated Trusts
    For SMSFs please use the Australian Regulated Trusts Form.
  • 26. Australian Unregulated Trusts

Customer Identification Checklists

Checklist to understand what customer information is collected and verified under AML/CTF obligations.

  • 27. Individual Customer
  • 28. Australian Domestic Proprietary Company
  • 29. Australian Listed Public Company
  • 30. Regulated Trust
  • 31. Unregulated Trust
  • 32. Self Managed Superannuation Fund
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Account Administration and Maintenance

33. New Adviser Form

Complete this form to setup an adviser from your dealer group to be able to offer Trading, Cash, Investment Loans, CALIA+ and/or Portfolio Service to clients.

34. Additional Adviser Authority Form

Use this form to provide an additional adviser or adviser assistant with access to an existing primary adviser's account.

35. Change or Removal of Adviser Form

Use this form to nominate a new adviser or remove an existing adviser.

36. Change of Dealer Group Form

Complete this form to move to a new Dealer Group.

37. Portfolio Service Ad hoc Advice Fee Authority Form

Use this form if you want to charge an Ad hoc Advice fee from the Portfolio Service.

38. Portfolio Service Fee Amendment Authority Form

Use this form to change Adviser and Licensee Service Fees on a Portfolio Service

39. Portfolio Service Closure Form

Use this form if you want to close your Portfolio Service. When closing your Portfolio Service, you can elect to keep your ACA and/or trading service.

40. Portfolio Service Administration Fee Form

This form is to be used by a Dealer Group to elect to pay the Administration Fee or change the existing election.

41. Portfolio Service Internal Asset Transfer Form

Use this form to transfer existing investments from one Portfolio Service to another (new or existing).

42. Multiple Term Deposit Application Form

Use this form to apply for term deposits available through Managed Investments Account. You can apply for multiple clients or multiple term deposits using one form.

43. Australian Standard Transfer Form (ASTF)

Use this form to transfer in or transfer out managed funds into Portfolio Service. Note: transfers are subject to approval.

44. Account Closure Letter (sample)

Use this template if transferring into Portfolio Service from another platform provider.

45. Partial Transfer Letter (sample)

Use this template if transferring into Portfolio Service from another platform provider.

46. Continuous Disclosure for Managed Investments Account

Information that is contained or referred to in the Managed Investments Account IDPS Guide may change from time to time. If we make an update it will be listed in this Continuous Disclosure document. If the change to the information is materially adverse, we will re-issue the IDPS Guide or issue a Supplementary IDPS Guide and notify you as required.

Cash & Trading Forms

For forms relating to the Cash and Trading products in your Portfolio Service, please refer to the relevant links.



Portfolio Service Resources

'How-to Videos'

Introduction to Portfolio Service

'Introducing our new Portfolio Service' webinar recording

This webinar provides an overview of Portfolio Service, explains how it works and highlights its features and benefits.

Account Origination

Part 1: Get Started/Application Details

Part 2: Applicant Identification

Part 3: Account Preferences

Part 4: Investment Preferences

Part 5: Fee Preferences

Part 6: Transfer of Listed Securities

Part 7: Review and Submit

Managed Investments Account Education

Corporate Actions Management

You have the ability to manage corporate actions for all clients that use Portfolio Service. This video will show you how.

Adviser & Client Reporting

You can access a number of reports for Portfolio Service including reports specific to your business such as outstanding transactions, and also client reporting for individual Portfolio Service accounts.

Linking a Model Portfolio

A Model Portfolio is a group of investments selected by a dealer group or adviser. Portfolio Service allows you to link your clients to a Model Portfolio.

Purchasing Managed Funds

Choose from a wide range of Managed Funds, from a number of professional managers, for easy portfolio diversification. Comprehensive research is supplied by Morningstar.

Applying for a Term Deposit

You have the ability to purchase a new Term Deposit online for a client’s Portfolio Service account. You can also manage the Term Deposit at maturity via eSubmit.

Website Education

eSubmit

You can now securely submit your clients’ applications, maintenance forms, supporting documentation and adviser forms online in a few easy steps.

Action Centre

In the Action Centre, you can view your client's online account application progress and manage maturing Term Deposits.

Dashboard

When logged into the CommSec Adviser Services website you’ll see your dashboard featuring a client and various news and market widgets.

Quick Start Guide

This guide is designed to give advisers an introduction to the key features available through Portfolio Service and how to access them.

Investment News


Update of certain events and their effects on investments within the Portfolio Service.

Portfolio Service At a Glance

Provides an overview of Portfolio Service and summarises its key features, the potential benefits to your business and the fee structure.

Taking your investment advice to the next level with Portfolio Service

No matter how you structure your investment advice model, Portfolio Service has a solution for managing your clients’ investments flexibly and efficiently.

Guide to Transition Services

We understand that your time is valuable, which is why we have dedicated teams to support you and your staff. This brochure explains how we will assist you with your onboarding to Portfolio Service.

Statement of Advice Guidance Wording

Use this wording as a guide when creating your own SOAs.

Annual Reporting Information

Portfolio Service Tax Guide

Coming Soon - The Portfolio Service Tax Guide will be available in 2018.

This guide will assist you in completing your Tax return, when used in conjunction with your Annual tax statement. This guide has been prepared for individual resident taxpayers. We recommend you seek independent professional taxation advice.

IDPS Audit Certificate

Coming Soon - The IDPS Audit Certificate will be available in 2018.

The audit certificates for the Managed Investments Account are issued annually. These certificates will be available within three months of the end of the financial year.

Client Brochures
Help your clients understand the features and benefits of Portfolio Service.

Bring it all together with Portfolio Service

Provides an overview of Portfolio Service and summarises the key benefits and features of this comprehensive administration solution.

FAQs

Can I settle trades made within Portfolio Service to a margin loan?

All trades placed through Portfolio Service must settle through the linked Accelerator Cash Account.

What is the difference between Portfolio Service and a Wrap platform (e.g. FirstWrap)?

Portfolio Service and Wrap platforms are both administration and reporting solutions which allow advisers to manage their client's investments in one place efficiently.

Both solutions offer clients and their advisers’ access to a wide range of investments options. Within a Wrap platform, assets are held in ‘custody’ for the client, meaning they are held in the name of the custodian rather than the individual. Within Portfolio Service, assets are both directly held in the name of the client (listed securities, cash) and held in custody (managed funds, term deposits managed accounts1).

How does Portfolio Service compare in fees to other platforms?

Portfolio Service has a price which is very competitive for the industry. Portfolio Service offers a flat fee structure for the administration fee, while majority of leading platforms offer basis point fee structures.

Does the 20% administration fee discount for grouped families apply to the first Portfolio Service account or only to every additional account?

The 20% fee discount is for every additional account within a client file, prorated across all accounts in the client file. Below is an example:

Fee discount

Can we transition existing managed funds into Portfolio Services from another platform?

Yes, managed funds which are on the Investment Menu can be transitioned into the service without selling the underlying asset. Managed funds within Portfolio Service are held in custody through a Managed Investments Account with your client as the beneficial owner.

Can my client or only myself as the adviser complete trades?

Portfolio Service is an advised offer and therefore only advisers can execute trades.

Can I add other assets to the customer reports manually (e.g. properties, term deposits from other institutions, etc.)?

Yes, this can be completed via the Manual Registry once your client’s account has been created.

What data feeds are supported?

The following data feeds can integrate with Portfolio Service:

  • IRESS XPLAN
  • CLASS
  • BGL
  • PlatformPlus
  • COIN
  •  

1 Managed accounts will be available after the initial launch of Portfolio Service.