This month, we’ve delivered a number of improvements to your online experience including the ability to select fortnightly pension payments and enhancements on Adviser Online. These improvements make it easier for you to access the information you need.
In this edition you can also read about our new pension payment capability which we’re releasing next month. Through this new capability, you’ll be able to submit pension payments up to $500,000 via Adviser Online. This is a significant delivery in our digitisation journey.
Michelle Weber
Head of Wealth Product & Technology
Monthly focus
- We encourage clients to download Macquarie Authenticator so they can approve Adviser Initiated Payments when this functionality becomes available next month.
- Soon you’ll be able to submit pension payments up to $500,000 via Adviser Online.
- We’ve released a series of improvements on Request Centre to help you submit your requests.
What's new
Fortnightly pension payments
Your clients with pension accounts can now receive their pension payments on a fortnightly basis. Our latest enhancements will make it easier and more efficient for you to process pension payments.
Submit your requests via Request Centre
We’ve made some enhancements on Request Centre to make submitting your requests as simple as possible. These enhancements mean you can now:
- view additional information such as the requestor name
- sort requests by the updated date instead of the created date
- view the complete status history of a request as well as any additional details specific to the request
- view requests created by a particular requestor by using our new ‘Created by’ filter.
An indicator symbol has also been added to highlight any requests needing attention as shown in the below screenshot:
Access insurance information via Adviser Online
The insurance tile, which is hosted on the account overview page, now displays the number of insurance policies and number of beneficiaries. For ease of navigation, quick links have also been added to this screen, so you can easily view more information if you need to.
Account balances and the total number of results are now displayed when you search for your client’s accounts
We’ve uplifted the search functionality in Adviser Online to make it easier for you to access the information you need. We’ve updated the filters so you can easily sort through account information and receive account balances in real time, both on the list and on the search bar. These improvements all contribute towards better reporting, which will enable us to deliver new functionality and enhancements on Adviser Online.
You can now view scheduled payments for cash accounts on Adviser Online
We’ve added an upcoming payments calendar to the Account Overview page for cash accounts. Through this calendar you can see all approved future dated Adviser Initiated Payments, client scheduled payments and manual scheduled payments for next twelve months (created via manual forms). For each month, you’ll also be able to see the total number of payments and the total dollar amount of payments scheduled, as shown in the below screenshot:
What's next
From next month, you’ll no longer need to contact your client to request the secure code to authorise payments
We’re releasing the capability for your clients to approve Adviser Initiated Payments (AIP) via Macquarie Authenticator. If your client has registered for Macquarie Authenticator, they'll receive a push notification when you submit an AIP, which will prompt them to approve the payment.
As part of this release, you’ll be notified via Adviser Online once your client has approved or denied the payment. This means you no longer need to contact your client to request the secure code to authorise payments.
Please note, if your client hasn’t downloaded the Macquarie Authenticator app, they’ll continue to receive SMS codes and you'll need to contact them as usual. We encourage you to prompt your clients to download the Macquarie Authenticator app so they can benefit from this enhanced digital experience. If your clients need help setting up Macquarie Authenticator, please direct them to our Help Centre article. We also have several articles on Adviser Help Centre to help you with Macquarie Authenticator.
Initiate pension payments between $30,000 to $500,000 on Adviser Online
As part of our ad-hoc pension payment functionality, you’ll soon be able to submit pension payments every three days of up to $500,000 with client authorisation. Your client will be able to approve payment requests via Macquarie Authenticator. If your client doesn’t have Authenticator installed, you can use Print, Sign and Upload.
The below screenshots show how the verification process works for clients who have downloaded the Macquarie Authenticator app:
New additional documentation requirements for CMA, Term Deposit and Wrap account applications
To fulfil our customer identification obligations and to mitigate Money Laundering and Terrorist Financing risk, we’re uplifting our CMA, Term Deposit and Wrap onboarding processes. This means you will be required to collect and/or verify additional client information to:
- determine and identify beneficial owners from source documents (e.g. Trust Deed)
- collect a client’s source of wealth
- obtain further information on the controlling parties of unregulated trusts.
You can view the below Help Centre articles for more information:
We are emailing your clients their Term Deposit updates
From next month, when your client’s Term Deposit is approaching maturity, is reinvested or if we receive a request for early breaks, we’ll update them via email instead of letter. It’s important to know we won’t email you these updates, as you can track your client’s maturity dates via Adviser Online. You can also update the maturity instructions on behalf of your client, please refer to this Help Centre article for more information.
Monthly Tips & Tricks: What you need to know about tax reports
Your clients with pension accounts can now receive their pension payments on a fortnightly basis. We’ve included some tips and tricks below to help you start using this new functionality.
How to amend your clients pension payment schedule
For new pension accounts, this functionality is available through the online application on Adviser Online. Simply navigate to the Pension Details screen and select the fortnightly frequency option as shown below:
For existing pension accounts, the payment cycle can also be amended via the Pension details form on Adviser Online. Simply navigate to the Account Details page and then click on edit payments.
Processing times
Pension payments can take up to three days to process. As a tip, if you select a payment day of Tuesday your client can generally expect to have their payment available in their account on Friday. Please note that the payment day is dependent on the receiving financial institution and any public holidays and/or weekends.
Pension payment alerts
If your client has insufficient cash and the pension payment is set to fail, we will send you an alert. In this instance, you can expect to receive two alerts:
- A monthly email that is sent ten days in advance of a client’s payment to provide advance warning that a payment might fail due to holding insufficient cash.
- We’ll also notify you (via email) after a pension is not paid if your client doesn’t have sufficient cash in their account to pay their pension payment.
For more information, please visit Adviser Help Centre and search ‘Fortnightly pension payments’ to learn more.
New Managed Investments (1 September 2022)
New Managed Funds | |
PIM4335AU | KAR Global Small Cap Fund* |
ETL9930AU | Loftus Peak Global Disruption Fund- Hedged Class** |
ETL8069AU | Mirova Global Sustainable Equity Fund** |
WHT7794AU | Firetrail S3 Global Opportunities Fund** |
BSS6324AU | Bass Property Credit Fund - L Class (IM) |
New Wholesale Managed Funds (IM)* | |
| MER2374AU | Merricks Capital Partners Fund (IM) |
Fund like securities ** | |
EHF1 | Elstree Hybrid Fund |
MTAV | Betashares Metaverse ETF |
AESG | iShares Glob Aggregate Bond ESG (AUD Hedged) ETF |
ITEK | iShares Future Tech Innovators ETF |
IGRO | iShares High Growth ESG ETF |
IBAL | iShares Balanced ESG ETF |
* IDPS only
** IDPS & Super
Helpful Resources
Top three searched Adviser Help Centre articles
- What are the USI and ABN details of the fund?
- Does the Australian Government Bank Deposit cover Macquarie Bank clients?
- How do I delete a scheduled payment?
Recently added Adviser Help Centre articles
Watch and learn our videos on Help Centre
Our Help Centre article, ‘How do I use Adviser Online?’ contains all our training videos to help you use Adviser Online.
Request Centre
Request Centre allows you to submit and manage requests in a faster and more secure way.
Need help?
Get in touch with us if you’d like any more information on any of these updates.
