More product updates
A summary of platform enhancements from past years
More product updates
Below is a summary of our key product highlights from prior years. If you would like to learn more or to see them in action please speak with a BDM.
April - June 2022
Benchmark performance against Morningstar Target Allocations
Now client portfolios can be benchmarked against pre-set benchmarks or custom objectives. With the latest enhancements to Netwealth's client reports, you can select two benchmarks, selecting from 5 Morningstar target allocations, CPI or the cash rate. You can also create a custom objective by adding a fixed % rate of return above either the CPI or RBA cash rate. For example, a portfolio may be benchmarked against RBA cash rate + 4% p.a.
More reporting enhancements:
- Time-weighted returns now available: You can customise the way performance is calculated by choosing between Internal Rate of Return or Time Weighted Return calculation methods.
- Reports now at yesterday's date: Client reports are now generated up to yesterday's closing portfolio value, speeding up the time to run reports. To see live data, use the Portfolio area of the platform.
- Income receivable breakdown now available: Portfolio Valuation and Asset Performance reports now include a breakdown of income receivable.
Want to see any of our features in action?
For an in-depth and live look at any of our features, please request for one of our team to contact you.
Keep clients informed of market news via the Netwealth App
Enjoyed by over 8,000 readers, Netwealth’s Morning Business Roundup is a daily curated news feed with the latest market and company news.
It is now available for your clients using the Netwealth app, when you turn it on via ‘Communication’ located under Business Settings in the main menu.
You can also white label the Netwealth mobile App so it aligns with your branding.
Help your clients to stay informed of relevant market news whilst keeping your business front of mind.
January - March 2022
Netwealth App now tracks insurance
Advisers and their clients can now monitor connected insurance policies through the mobile app. Insurance sums insured are displayed in charts and upcoming premiums can be monitored with calendar alerts. Users can even download a certificate of currency for group policies straight from the app.
NAB Equity Builder as an alternative to margin loans
Netwealth is the first platform to offer NAB Equity Builder, a new type of investment loan that gives investors an alternative to a margin loan or home equity loan. NAB Equity Builder is a principal and interest (P&I) loan for purchasing managed investments such as managed funds, ETFs, LICs and SMAs. There are no margin calls and the loan uses the investments acquired through the NAB Equity Builder as security.
Greater pension flexibility
We have several new changes and enhancements to how we manage pension payments, offering greater flexibility in how and when pension payments are received. The key enhancements include:
- Multiple payment frequencies - Pension payments can now be received at a weekly, fortnightly, monthly, quarterly, semi-annual, or annual frequency
- New payment dates - A date can be nominated when the first pension payment is to be received and subsequent payments will be received at the client’s selected frequency thereafter
- Negative cash payments - Clients with insufficient available cash balance can now receive their pension payments on time if they hold sufficient liquid assets.
Enhanced mobile app features
We are releasing improvements to the mobile app every month. Here are some of the latest adviser and client enhancements:
- View Portfolio Balance, Portfolio Balance History and Asset Price History chart data for up to the last 5 years
- New filters for multiple account holders - Filter consolidated holdings for cash and unit holdings of assets held
- View client personal details, and initiate calls to clients via their registered mobile and fixed line numbers.
Log into or download the app at the Apple Store or Google Play to find out more.
BlackRock GSS Index Plus funds available in Accelerator Core
Netwealth's diversified index based funds, formally known as the Netwealth Index Opportunities funds, have been relaunched. BlackRock Investment Management (Australia) Limited have been appointed as the investment manager and the product names amended to reflect the change of manager.
- BlackRock GSS Index Plus Conservative Fund (APIR NET0004AU)
- BlackRock GSS Index Plus Balanced Fund (APIR NET0002AU)
- BlackRock GSS Index Plus Growth Fund (APIR NET0027AU)
These funds are diversified investments that use strategic asset allocations and invest in underlying BlackRock managed funds and ETFs. The underlying investments are a mix of index, enhanced index and active strategies. The allocation to active strategies is used where the manager sees particular opportunities due to market inefficiencies and the potential to generate alpha. These funds are also available in Accelerator Plus.
October - December 2021
ESG research at your fingertips with our new Morningstar ratings on managed fund profiles.
According to our latest research(1), 45% of Australian's aged 18+ say that socially responsible investing is an important consideration in their investment strategy or that they are willing to sacrifice returns / pay more for socially responsible investments. The challenge for them and for like-minded investors is to validate the authenticity of the investments they choose.
With this in mind, we are pleased to introduce ESG research and ratings on managed funds from Morningstar. The new ESG ratings available on our Compare Funds & Models page include:
- The “Morningstar Sustainability Rating” that compares ESG risk across various managed funds within the same Morningstar Global Category.
- A “Low Carbon Designation” to identify low-carbon funds across the global universe. The designation is an indicator that the companies held in a portfolio are in general alignment with the transition to a low-carbon economy.
- “Sustainability info” that scores a fund on several ESG related considerations
We have also introduced a resource where you can access Morningstar's top-rated ESG funds across different asset classes.
(1) 2020 Advisable Australian Survey, n=1,616 people aged 18+
New look login page in January 2022
We are upgrading and making the login process simpler and more secure with a new login page and password issue process.
- Introducing password reset links sent via email or SMS for you to easily and securely reset your password
- Adding a helpful real-time tracking guide for password requirements when setting up passwords
- Removing the time-consuming Security Questions feature
July - September 2021
Custom asset classes for enhanced reporting
You can now define your own asset and detailed (sub-asset) classes to override Netwealth's default asset classifications. Giving you the ability run customised client reports and have online portfolios that reflect the asset allocation and terminology used by your practice. For example, some firms may want to change "multisector" to "diversified" or create custom asset classes for investments currently assigned to 'other' or 'miscellaneous' categories.
Asset Classification is available now and requires licensee approval, contact your BDM for more information.
Your next-gen client portal
Improve client engagement, service levels and build trust with Netwealth's new mobile app for clients.
With two in five advisers that use client portals benefiting from improved client engagement and client satisfaction* we are pleased to launch Netwealth's next-gen client portal, a mobile app for your clients.
*Source: 2021 Netwealth AdviceTech Report, n=348 respondents
Watch the video
ASX share trading has a new home
It is now easier to buy and sell investments through Netwealth via our updated investment order pad.
To save time and remove complexity, we have integrated ASX trading into one screen so you can trade ASX securities, managed funds, term deposits and managed account models in a single transaction.
- Buy and sell multiple assets on a single screen.
- See the impact that sale proceeds have on the amount of available cash for purchases.
- View estimated buy and sell prices for assets.
- View CGT impacts at a parcel level.
- Save the buy/sell transaction prior to submission, for later approval by you or another person.
Faster execution of ASX share trades with Citigroup
We are pleased to announce our new partnership with Citigroup Global Markets Australia Pty Limited (‘Citi’) as our preferred platform broker for trading of ASX securities.
Citi is a well-established global equities trading business with a strong local presence in Australia, extensive industry experience and market-leading technology. Through our partnership with Citi, we believe financial advisers and clients will enjoy an even better trading experience.
As a result of this new partnership, we have refined certain platform ASX security trading rules:
- Improved trading for ‘at-market’ orders - Previously, at-market orders were placed with a limit based on the market price as at the time the order is placed; sometimes this resulted in orders not fully being completed. Through Citi, 'at-market' orders are executed using Citi’s automated trading technology and will generally be filled more quickly and on the same trading day.
- 'At-market' orders are now ‘day only’ orders. With faster order execution times expected through Citi, future expiry dates can no longer be specified for at-market orders.
- For securities with a last traded price of $0.20 or less orders must be placed with an 'at-limit' price. This change is intended to reduce the chance of unexpected trading outcomes, which can occur when 'at-market' orders are placed for lower priced securities that can be subject to large price fluctuations, in percentage terms, during a trading day.
April - June 2021
Introducing third party access to client accounts
Provide a better client experience and service offering by sharing account information with your clients' professional support network.
Professionals such as accountants, stockbrokers, and mortgage brokers can now create a Netwealth Professional Third Party account and be given permission to view the details of your clients' accounts online. Providing them with a range of benefits including:
- Manage multiple accounts - Read-only online access to view client account balances and portfolio holdings.
- Download tax statements - Download past tax statements and use our tracker tool to view the latest updates for pending statements.
- Run detailed reports - Generate a range of custom reports, including cash transaction history, un-realised capital gains, and performance reports.
We've put together a guide on how to facilitate the creation of Professional Third Party accounts and how to provide client access.
Streamlined client fee consent
Under the Financial Sector Reform Act 2021, new requirements for client fee consent begin from 1 July 2021.
To simplify the collection of advice fees for your business, we're building out new functionality and updating our process, including electronic fee consent options, embedded fee consent, and online tracking.
January - March 2021
Advice fee flexibility with fixed term fees
As part of our flexible fee management tools that help you manage fees and disclosures, fee updates, discounts and client release from fees, we are pleased to announce the upcoming release of our fixed term advice fee solution.
- Customised term - Set a fee start and end date to suit your remuneration period.
- Flexible payment options - Charge monthly percentage-based account fees, or deduct flat dollar fees on a monthly, quarterly, or half yearly basis.
- Smart alerts - Stay on top of expiring fees with dashboard alerts for individual accounts.
- Expired fee reports - Run bulk fee reports across your entire client base to determine expiring fees.
- Online renewal process - Renew fixed term fees without the need for signed paperwork, where clients with online/transact can approve fee proposals online.
Get help with Live Chat
With Live Chat, you can chat with a Netwealth customer service representative using instant messaging from your desktop, eliminating the need to call us. Get answers to your questions from a real person in real time, during business hours, 8:30am to 5pm AEST.
- Multi-task and quicker resolution - Continue working whilst we respond to your questions via live chat. Your live chat session will also remain open and visible as you navigate through different areas of Netwealth’s website.
- No verbal security questions - As you are already logged in when you start a live chat, we have already validated your details.
- Keep file notes - Request a record of your live chat interactions with Netwealth.
- Avoid repetition - Avoid repetition and jump back into old live chat enquiries. We have all the information so you won't need to repeat yourself.
- Get an answer from a real person - A Netwealth consultant will respond to your query with no automated chatbot responses.
Other important enhancements
- Save in-progress applications - You can now save an application in-progress and retrieve the application in the future.
- Enhanced performance reporting - The Asset Performance report now provides a breakdown of the total return for the period based on asset classes.
October - December 2020
Manage off-platform assets with XWrap
Almost 3 in 5 advice firms manage 25% of their clients' investment and super portfolios externally to the platform ('off-platform'), with a further 20% managing over half of their client's portfolio 'off-platform'*.
This creates the reporting challenge of getting a true understanding of a clients' portfolio, as well as the additional administrative overhead of using workaround systems when entering and managing external data.
XWrap is Netwealth's solution to change this. We've simplified the process for recording 'off-platform' asset data for a client, including unit price history, income, fees and other transactions. We've also enhanced our reporting suite so you can use it to view XWrap data consolidated with Netwealth accounts or as stand-alone.
Optimise tax outcomes with CGT preferences at an account level
Instead of having to select preferred tax options for each parcel sold, you can now set a preferred tax option for sale at an account level. You can choose from First In First Out, Last In First Out, Maximise Gains or Minimise Gains methods for CGT calculations. This can be set via Client Details > Account Settings > Tax Preference.
Redesigned annual super statements
We've refreshed the look of our annual super statements to give your clients a clearer view of their super account. The new design features:
- charts & graphs
- portfolio performance indicators
- grouped transactions
- a checklist that highlights missing important personal information
- and other enhancements to make the statement easier to use.
Other important enhancements
- Determine the CGT impact before making an asset sale: In addition to setting tax preferences, the CGT tax impact can be viewed prior to sale on the Switch webpage, Trade Proposal PDF and Trade Summary PDF.
- Streamline BPAY payments to the ATO and ASIC: Scheduled payments to the ATO and ASIC will no longer require two-factor authentication from clients.
July - September 2020
Sell managed funds without disrupting asset allocation
With our new 'Pro-rata' sell option you can set a fixed total sales amount and the selected managed funds will sell down at the percentage they are held. Go to Buy & Sell assets>Switch assets and select 'Pro-rata' from the drop down in horizontal calculator at the top.
See the total value for a specific category of cash transactions
A “Transactions by type” summary has been added to the Client Cash Transaction Listing Report to show the total value of each transaction type for a chosen date range.
Do more with Accelerator Core
We are expanding our Accelerator Core investment menu over the next 12 months, and are pleased to announce these first release strategies:
GSS Active Single Sector Funds
Managed by Magellan and based on the same strategy as their flagship funds, the Magellan GSS Funds are suitable for long-term investors seeking an active exposure to listed global securities or listed global infrastructure securities.
GSS Risk-Managed Models
With built-in risk protection, the Milliman Smartshield GSS Managed account models are designed for investors seeking to reduce volatility in their portfolio.
Other important enhancements
- Apply a dollar cost averaging plan to managed models: During periods of volatility you may find it beneficial to buy managed account models over an ongoing or fixed period of time. With this enhancement you can invest in all managed account models in this fashion, instead of a one off transaction. Go to Transactions>Cash managements>Dollar Cost Averaging >Click 'Add managed account investment' button
- Customise managed account settings in Accelerator Core: You now have the ability to substitute and exclude assets held in a managed account model within Accelerator Core, as well as set investment and rebalance preferences. Go toTransactions>Managed accounts>Profile.
- Asset sale from an in-specie transfer renamed "Internal Transfer": Naming convention updates throughout the platform, including the online cash transaction listing and report, plus the welcome/exit statement.
- Easily view any outstanding term deposits, frozen asset sales awaiting confirmation: A new section has been added to Pending Transactions.
- Enhancements to client access settings: For clients with multiple accounts, you can now set either transact and/or browse only for each account they have. This is useful if you are managing investments in one account with the client administering them in another.
- Updated information in the trade contract note: Transaction details for investment parcels is now included in the Proposal and Trade summary report.
- Be notified when a child model drifts within a Parent model: You will be emailed when a child model within a parent model drifts outside its allocation when using SMART. You can also monitor this with the SMART model of models report.
- Cancel scheduled BPAY payments: Cancel future scheduled or recurring BPAY payments.
- See the likely date when a managed fund will settle: Indicative confirmation date for outstanding buy/sell managed fund orders are now included in Pending Transactions
- See the details of Corporate Actions not yet confirmed: Information on corporate action not yet confirmed are now included in Pending Transactions
- My Statement design enhancement: Cover page added plus layout improvements
- Filter managed funds and models available in Accelerator Core:New filter available in compare funds and models
- ASX live pricing now every 10 minutes: ASX prices are refreshed every 10 minutes rather than every 20 minutes
April - June 2020
DocuSign generated e-signatures now accepted
We now permanently accept Docusign generated e-signatures for many Netwealth documents, in addition to accepting drawn electronic signatures from any provider.
To take advantage of this:
- Check what signature method is accepted for the document you are looking to sign
- Use our secure online 'Document upload' facility to send us the electronically signed document together with the Docusign Summary Certificate.
Updated My Portfolio report
You can export a summary of a client's holdings and configure the information shown in our updated Portfolio report.
To configure and download:
- Choose a view, which will determine the layout of the report
- Select if you want capital movement included the report
- Click the print button to download the report
Other important enhancements
- Keep track of pending international share trades with the addition of two new statuses:
- Entered - We have received your order
- Submitted - Order has been submitted to broker for execution
- Performance fact sheets available for the Netwealth GSS Funds in Compare Funds and Models
- Send financial data to a client's SMSF via a SuperMate data feed.
- For managed account holders, there's a new first page in the 'Asset Performance Detail' report that shows the indicative return simulated based on a $10m investment to help better understand a managed models performance.
- Find out which clients have been approved for BPAY payments by running the 'Supplementary account details' report.
- View those Wealth Accelerator clients that need to provide a TFN or ABN to prevent tax from being withheld by running the 'Client List' report.
- View transaction narrations for EFT deposits: Narrations included in EFT transactions are now viewable in the 'Transaction listing' report.
- View your total investment in an asset class: A new row has been added to the 'Asset Performance - Detail' report that sums the asset values for each asset class.
- The managed account planner tool now outputs 2 new columns: CGT column (only super accounts) & Gain/Loss column, for both Transfers In & Transfers out of the managed account.
- We have decommissioned the Current Assets report, and added a new option for the 'Portfolio Valuation' report to include/exclude the 'Cost' and 'Movement'.
- A new row has been added to the 'Asset Performance - Detail' report that sums the asset values for each asset class.
- We have decommissioned the Current Assets report, and added a new option for the 'Portfolio Valuation' report to include/exclude 'Cost' and 'Movement'
- Export your clients' portfolio's holdings: Download a 'My Portfolio' report from the client's portfolio holdings page to view the current holdings in the account. The report is configurable to how you chose to categorise the asset information on this page.
- Better understand managed account performance: For managed account holders, there's a new first page in the 'Asset Performance - Detail' report that shows the indicative return simulated based on a $10m investment.
- Display the asset allocations of a managed account you are invested in: You now have the option to show the target (ideal) portfolio of investors in a managed account by selecting 'detail as the output option for the 'Portfolio Valuation' report.
January - March 2020
Make payments with BPAY®
We've introduced BPAY to supplement our Pay Anyone functionality, providing another easy and convenient way for Wealth Accelerator clients to make one-off or recurring payments through their Netwealth account.
You can also schedule payments and save biller details.
® Registered to BPAY Pty Ltd, ABN 69 079 137 518
Monitor the Australian market with our refreshed ASX Live data centre
Our redesigned ASX Live data centre can help you stay on top of the local market:
See your clients' total wealth with third party (off-platform) bank and super data feeds
In addition to 170 banks and credit unions, you can also include bank feeds for:
- Super funds
- Credit unions
- Broking accounts
- Share trading accounts
- Frequent flyer memberships
A client can add a bank feed to their accounts through My Accounts on their Dashboard by selecting Add account>External account.
Other important enhancements
- Added investment options to help service HNW and wholesale clients including exclusive managed funds, domestic and international bonds, and foreign currency accounts
- Updated Accelerator Plus fees to benefit most clients
- Narrations can now be included in EFT transactions
- Receive a notification when a client accepts a SMART ROA or when SMART model/client profile has drifted outside a defined variance
- Additional third party data feeds (external share trading, super and frequent flyer accounts)
- Sorting and filters added to Switch (buy/sell) page
- We have increased the number of forms and documents which we accept digital signature for
- Ironbark added as external responsible entity for managed accounts
- Watershed and Russell Investments added as model managers
October - December 2019
Enhanced trading of managed funds and models
We have revamped our Buy/Sell functionality giving you the ability to:
- Buy and sell assets on a single screen, so you can use the sale proceeds for purchases.
- Manage capital gains or losses through the selection of individual parcels for sale.
- Make trading decisions easier with estimated buy and sell prices.
- Save the transaction prior to submission for approval by another person.
Other important enhancements
- Added new asset class classifications and investment limits
- Section for Power of attorney added in online applications
- Ability to pay an ad-hoc adviser fee immediately
- Remuneration report notice on my tasks
July - September 2019
Client reporting updates
We've added new reports and capabilities to help you see a better picture of your client's position:
- Indicative Income report which predicted income for assets held in the account, based on historical asset data.
- Portfolio valuation reports have the ability to look through to underlying asset allocations for managed funds
- Calculate your portfolio returns net or gross of fees and costs
- Ability to split alternative investments from other investments
- PDF trade confirmations for ASX and international shares
Other important enhancements
- Managed account income available in pay to bank option
- Integrated with FactSet to improve managed account reporting
- Alternative investments asset class added to reports
- Add model portfolios for reinvestment in Cash Settings
- Adviser notifications when Partial SuperStream rollover without enough cash
- Reports can be downloaded in CSV format
- CGT rewrite provides an updated format for their Realised Capital Gains data,
- Document storage library allows the ability to securely access documents from external providers
April - June 2019
Challenger Annuities available on Netwealth
To help your clients during retirement we teamed up with Challenger to provide access to annuities:
- Access a range of Challenger annuities at the same rates as going direct
- Access a range of Challenger tools and resources
- Quote and apply for a Challenger annuity via the Netwealth platform
- View annuity policy details alongside other assets online
- Also available to clients who do not have a Netwealth account.
Other important enhancements
- Netwealth Managed Account Service (NMAS) launched to simplify adviser and client investment experience
- Trade confirmations made available as a PDF
- Browse only clients can accept ad-hoc fees
- Browse only clients able to edit personal details
- Simplified password reset process
- EOFY task added on "My Task" to navigate statement tracking
- Updates made to the model manager portal including new reports and user settings
January - March 2019
Streamlined transfers between super and pension
Our super transfer tool helps to remove any guesswork from pension to super account transfers (or vice-versa):
- Form pre-fills with details already on the account, with the option to override
- Validations help users fill in requirements
- Multi-use super transfer tool facilitates multiple strategies.
To use, select a client with a super or income stream account and navigate via the main menu to Activities and Tasks > Transfer Between Accounts. Follow the prompts and download the transfer documents for client sign-off.
Other important enhancements
- New managed funds and models added
- New adviser report showing managed account customisations such as rebalance suspensions
- Browse only clients able to update bank details online
- Enhancements to the Family Fee Linking Tool allowing clients to link admin fees for their accounts if they are with different adviser representatives
- Automatic pricing of bonds