- Log in to Adviser Online
- Select Clients under the Macquarie icon and click Wrap account administration
- Select maintain an investment account OR maintain a superannuation account OR maintain a pension account
- Search for the account using either the account name or number
- Click enter or maintain automatic cash management
- Enter a plan end date or select until further notice
- Select if you want your client’s Automatic Cash Management plan to be:
- A maximum plan – buy investments with excess cash;
- A minimum plan – sell down investments to top up cash; or
- Both
- Enter either a dollar amount or percentage value for both the target and trigger amounts. You must complete the plan with either all dollar amounts or all percentages
- For pension accounts, you can specify a target and trigger using pension payment details eg 4 months pension payments
- Choose if you want to set an investment limit. Transactions that exceed this limit will not proceed without your authorisation
- Choose an allocation method
- Proportional – Each managed fund listed will be topped up equally (available for maximum plan only)
- Percentages – Each managed fund listed will be topped up or sold down based on the percentages you choose (minimum of 1%) (available for maximum and minimum plans)
- Priority – Managed funds will be sold down in the order selected (available for minimum plan only)
- Use the search bar to add managed investments to the plan list.
- Click update to confirm the changes.
New plans or updates to existing plans won’t be saved until authorised by you or associates in your office with full transact authority on the client’s account.
When setting up an ACM for a retail client, advisers will be required to confirm that personal advice has been provided recommending the account holder/s invest in each of the products within the ACM Plan.
Target and trigger amounts
Your client’s balance will be calculated on the 20th of each month that the plan runs. The Automatic Cash Management plan will determine if your client’s account balance has breached its trigger amount. If the cash balance has breached the trigger amount, assets will be bought or sold until the cash balance is brough back to the target amount.
The cash target and trigger amounts you set refer to the balance of your clients’ Wrap cash account. Please keep in mind the cash minimum when setting up a minimum plan for regular payments.
Example
You’ve set up a maximum plan with a trigger of $10,000 and a target of $8,000. On the 20th of the month, your client’s account Wrap cash account balance is $11,000. The Automatic Cash Management will buy managed investments to reduce the Wrap cash account balance back to the target of $8,000.
Investment limits
You can choose to set an investment limit when setting up Automatic Cash Management. You’ll receive an alert that an Automatic Cash Management transaction exceeded the limit and needs your authorisation. Please note that if you don’t authorise the transaction by the 28th of the month, we’ll automatically cancel the order.
When does Automatic Cash Management run?
Automatic Cash Management will run on the 20th of the month.
If the plan exceeds the investment limit (if one exists), then you’ll receive an alert. If you want to proceed with the order then you must authorise it by the 28th of the month or we’ll automatically cancel the order for you.
Automatic Cash Management won’t process any investment into assets with pending transactions. This includes SMA orders and any income redirection in progress.
