Manage off-platform assets with XWrap
XWrap gives you the ability to upload, manage and report on your clients’ external non-platform assets using Netwealth's powerful reporting suite.
Streamline how you manage external assets
This guide is for licensee users. Last updated 26/11/2020
With XWrap we have simplified the process in how you can record and administer 'off-platform' asset data for a client, including unit price history, income, fees and other transactions. We have also enhanced our reporting suite so XWrap data can be viewed with other Netwealth accounts or as a stand-alone.
In this guide we cover:
How to get started
Before using XWrap, consider:
How to activate XWrap with Wealth Exchange
- Step 1: If you haven't already, you will need to activate Wealth Exchange. You can navigate using the Wealth Exchange button in the top menu when logged in.
- Step 2: Subscribe to XWrap in Wealth Exchange. Click on ‘Learn more’ for an outlines of fees and an overview of XWRAP
- Step 3: Once subscribed, users can manage off-platform assets using by following the steps in the video on this page.
Is XWrap for you?
We recommend XWrap if you:
- Have clients with assets that are unable to be held in a custodial platform arrangement
- Have clients who are unable to switch to a custodial arrangement, such as charities or investors that own private or listed company shares that must be directly registered.
If XWrap sounds like it could benefit your business please contact our distribution team to learn more about pricing and how to get started.
How to use XWrap
(0:00) What is XWrap?
- Discover the benefits for you and your clients
(01:53) Creating and managing asset details in XWrap
Learn:
- How to add and setup an asset to an XWrap account, including it's unit price history
- The importance of XWrap's double-sided ledger
(04:22) Creating an account and running reports with XWrap
Learn:
- How to open and setup an XWrap account
- How to run consolidated and standalone reports for XWrap assets
(07:50) Creating and reconciling XWrap transactions
Learn:
- The different types of XWrap transactions available, including asset purchase and sale
- How to create a new transaction inside XWrap
- How to reconcile transactions in XWrap using its double-sided ledger
(15:35) Upload assets, pricing and transactions in bulk
- Learn how to use the bulk upload template
Want to see XWrap in action?
Take a tour of XWrap with a member of our friendly distribution team to see the benefits for your business.