FAQs

SELFWEALTH

Does the performance calculation measure take into account both the income paid in a period as well as any capital growth? AND if so is there flexibility in the reporting periods?

Our performance calculation does include income paid. Furthermore, reporting periods are currently rolling 1 day, 1/3/6 months, one year and annualised. At this point Members cannot set their own reporting dates, however we are continuously developing and implementing new functionality.

How often is a Members performance updated?

Performance for all portfolios is updated every 20 minutes. This includes stock performance and unit prices using the ASX price data feed matched with a Members portfolio holdings.

Does the Trading Portfolio get automatically updated?

Yes, Member Trading Portfolios are updated automatically for all buy and sell orders.

Does SelfWealth provide financial advice?

The information provided is general advice only and has been prepared without taking account of your

objectives, financial situations or needs. Before acting on this general advice, you should consider the

appropriateness of the advice having regard to your own objectives, financial situation and needs.

You should obtain a Product Disclosure Statement relating to the product and consider it before making

any decision as to whether to acquire the product.

What is a Target Portfolio?

Members can use the strategies of top investors to create a Target Portfolio and measure it’s performance over time. Members will be prompted to set up a Target Portfolio when they first get started with SelfWealth. There are a couple of different construction methods Members can use. Members may choose the SW Top 10 (the top 20 holdings from the top 10 Members by WealthCheck score), the SW ETF (the 10 most popular exchange traded funds (ETFs) held by the Community or Members can use the Custom method which gives them full control over their Target Portfolio.

Where do you source your research data from?

Our Stock Analysis tool is powered by Thomson Reuters.

Where is the Stock Analysis tool located?

The Stock Analysis tool can be accessed from the left hand menu in a Members Account | TRADING | Stock Analysis.

How is SafetyRating calculated?

SafetyRating measures the diversification of a Portfolio. SafetyRating is calculated by SelfWealth based on the number of holdings in a Members Portfolio, how evenly that Portfolio is spread across different holdings, a measure of the number of holdings considered lower risk in the Portfolio (such as shares listed on the ASX100, Australian ETPs, cash and interest rate securities or convertible notes) and on the different types of asset classes in that Portfolio. A score out of 40 is assigned based on this criteria along with a 1-5 star rating.

What is a WealthCheck score?

WealthCheck measures the health of a Members Portfolio and how well it compares to other Members in SelfWealth. Members can view, sort and filter all Members by their WealthCheck. The Wealthcheck score can range from an A+ to an F and is calculated using the following criteria; how well a Portfolio is performing compared to other Members, SafetyRating and an independent valuation of a Members holdings in their Portfolio.

What is the SW200 and how is it calculated?

The SW200 is SelfWealth’s own benchmarking index available to all members. The SW200 takes the top 200 holdings (by weighting) from the top 200 portfolios (by WealthCheck score). These top 200 holdings are then equally weighted within the index at 0.5% each and are rebalanced quarterly.

Can Member Like Me preferences be changed?

Yes, Members can change their preferences anytime through the setting menu within SelfWealth. Go to the Members tab | Members Like Me.

Social Following

What can be seen in Member Portfolios?

All Members are anonymous and identified by the use of a nickname. Dollar amounts for your Portfolio are not made public at any time, rather allocations are represented as percentages. Other Members can see nickname, WealthCheck score, Portfolio performance, SafetyRating and Portfolio holdings. If a Member has included another Members Portfolio in their Target Portfolio that Member  will receive a notification when they make a change to their Portfolio.

Is there a limit on the number of Members that can be watched?

Members can watch as many Members as they like. Members can find other Members to watch under the Members section and add them to their Watchlist.

Is it possible to stop watching a Member?

To stop watching a Member go to the Members tab and My Watched Members, select the Member and un-check In My Watch List.

Can Members compare their portfolios?

Yes. This information is accessible through the Members tab.

TRADING

Can Members trade directly through SelfWealth?

Yes, Members can trade the ASX for a flat fee of $9.50 per trade regardless of the size of the trade. Members can go to our TRADING tab to get started. Watch our video to see how easy it is to place and manage orders using SelfWealth TRADING.

How many portfolios does a SelfWealth Membership support?

Currently only one portfolio can be linked to each SelfWealth TRADING membership. Members can view two portfolios one manual (Virtual) and one TRADING. However members can only buy and sell stock from their trading portfolio.

Are the shares purchased through your platform CHESS sponsored?

Yes, all shares brought through SelfWealth are CHESS sponsored.

Is international trading available through SelfWealth TRADING?

Not currently, International Shares will be supported by SelfWealth TRADING in later iterations of the solution.

Is there a minimum parcel size when buying a security for the first time?

Yes, when buying a particular security for the first time, the ASX prohibits the settlement of transaction that will establish a holding of less than $500 based on the closing price of that stock (Marketable Parcel). To provide a buffer for intra-day security price movements and to ensure that we can settle transactions, we will not accept orders for securities that are less than $600 (excluding brokerage and charges) unless holdings in that security are held already under our sponsorship.

Can a SelfWealth TRADING account be established using an SMSF?

Yes, Members can establish a SelfWealth TRADING account with their SMSF, with all trades settling to your SelfWealth TRADING settlement account.

What is an Account Designation?

Account designations are relevant to company, Trust and Superannuation Fund accounts. This is because shares cannot be registered directly in the name of a minor, deceased, unincorporated fund or trust (e.g. superannuation fund).

Examples include <John Smith A/C> or <Smith Super Fund>.

Account designations are not mandatory for individual accounts.

Can orders be changed or cancelled, and is there any charge for it?

Members can change or cancel their orders at no cost as long as the trade is not partially or fully filled. The balance of partially filled orders can be adjusted but the filled portion of the order cannot be modified.

Can Members deal with multiple brokers within SelfWealth TRADING?

No, Members can only use the SelfWealth TRADING brokerage solution.

Do Member's get reimbursed for failed trades?

Yes, full reimbursement of trades will be made.

What does good until date mean when placing an order?

Good until date allows Members to select a predetermined date for execution of their order. When selected, orders can be filled before or on the predetermined date selected date during market hours.

What does day only mean when placing an order?

A day only order is valid only for the date selected. This order expires at final close of the market.

Does SelfWealth offer Live-pricing?

Yes, Members have access to live pricing in SelfWealth TRADING only – Supplied by Chi-X.

Can I stop loss orders be placed using your platform?

Currently stop loss is not available with SelfWealth TRADING. Coming Soon!

Does SelfWealth have a Market Depth tool?

Currently Market Depth is not available with SelfWealth TRADING.

Can HIN or Asset Transfers be blocked?

Yes, HIN and Asset Transfers can be blocked. This can be for a number of reasons including being held in custody, held as security for a margin loan or because there are outstanding orders.

Why is the cash transfer out cut off 2 pm?

The 2 pm cut off is to guarantee all payments are processed for the overnight banking batches. Requests received after this time are not guaranteed.

Can a new HIN be established when applying for SelfWealth TRADING?

Yes, a new HIN can be established when applying for SelfWealth TRADING.

Can multiple HIN’s be established with different brokers?

Yes, multiple HIN’s can be held at different brokers.

Can holdings be transferred from an existing broker to SelfWealth TRADING?

Yes, holdings can be transferred into SelfWealth TRADING from any Broker. SelfWealth TRADING supports electronic transfer of HINs as part of the SelfWealth TRADING application. If Members wish to transfer holdings from their existing broker post application, they must complete a Broker to Broker Transfer form. This is located in the SelfWealth Account | TRADING | Trading Account | Documents & Forms | Broker HIN Transfer Form.

What assets and securities are available on SelfWealth TRADING?

ASX listed securities are available within the SelfWealth TRADING solution.

Is there a minimum balance to be kept in the Trading Cash Account?

There is no minimum balance required.

Who can use SelfWealth TRADING?

SelfWealth TRADING members are required to be 18 years or older and an Australian resident.

What are unsettled funds? Can stock be immediately purchased after selling stock?

Unsettled funds are funds that have not yet cleared and settled after selling stock. Members are able to immediately buy stock after selling stock,  however it will take up to 2 business days for funds to be settled and available to withdraw from the Trading Cash Account.

How can funds be transferred into the Trading Cash Account?

To transfer funds into the Trading Cash Account Members can log into their SelfWealth TRADING account, go to Trading Account | Cash Account. Select “Add cash to this account” under TRADING Cash Account.

Cash transfers take 1-2 business days, remembering there is a 2 pm cash cut off time.

The preferred method of transferring funds is via BPay or Direct Bank Transfer. There may be delays with in branch transfers and some banks may charge additional fees. 

If Member’s wish to make an in branch transfer, please get in touch with SelfWealth.  

How are funds transferred out of the Trading Cash Account?

To transfer funds out of the Trading Cash Account Members can log into their SelfWealth TRADING account, go to Trading Account | Cash Account.  Select “Transfer Money from Cash Account” under Nominated Bank Account.

Which bank holds the funds in the Trading Cash Account and is the cash insured?

All client monies are held with ANZ that has very specific government issued provisioning requirements as issued by ASIC.

Deposits are covered by the Government $250,000 Deposit Guarantee.

Are there any fees associated with the ANZ Trading Cash Account?

No, there are no fees associated with the ANZ Trading Cash Account.

Does SelfWealth support ETF's?

Yes Members can trade in ETF’s through SelfWealth TRADING.

Can the Trading Cash Account be overdrawn?

Members cannot overdraw their cash accounts when placing a Limit Order.

To avoid funds being overdrawn in the Trading Cash Account when placing a Market then Limit Order we have implemented buffers for Market movement.

< $0.01 – 20 % buffer for Market movement

< $0.11 – 15 % buffer for Market movement

< $1.00 – 10 % buffer for Market movement

< $50.00 – 5 % buffer for Market movement

> $50.00 – 2.5 % buffer for Market movement

Failed trades would be at the expense of the Member.

Are there fees associated with transferring holdings to SelfWealth TRADING from another broker?

SelfWealth do not charge for holdings to be transferred, however other brokers may.

How can a Member transfer assets from another broker to SelfWealth after their account has been established?

To transfer assets after an account has already been established a broker to broker transfer authority form needs to be completed.

How can issuer sponsored holdings be transferred to SelfWealth after an account has been established?

To transfer assets after an account has already been established a Convert Issuer Sponsored holdings form needs to be completed.

 

What is an in-species transfer?

An in-species transfer is the transfer of assets between different ownership structures, for example from your own name to a trust account. To action an in-specie transfer, an Off-Market Transfer form must be completed.

 

Are you able to trade without a SelfWealth Membership?

Yes, there is no membership required to access SelfWealth TRADING, just pay for your trades as needed. There is an optional feature to access our community for $20.00 per month.

How is a trade placed?

Placing a trade is simple, go to TRADING Portfolio | Place Orders. View Video.

What account types does SelfWealth TRADING support?

  • Individual
  • Joint
  • Company
  • Trusts
  • Self-Managed Super Funds (SMSFs)

Can the nominated bank account details be changed?

Yes, a change of nominated bank account details form must be completed and submitted as per instruction on the form. Go to TRADING|Trading Account|Documents & Forms.

Why can't the cash balance for the Trading Cash Account be seen in ANZ?

All cash is held in custody and can only be viewed via SelfWealth. Go to TRADING|Trading Account|Cash Account.

Who executes the trades made through SelfWealth TRADING?

Trade instructions are executed by Pershing Securities. Pershing Securities Australia Pty Ltd (Pershing) assign Members with a Holder Identification Number (HIN). Pershing will execute, clear, settle and keep record of all holdings and share investment activity.

Do Members receive a Financial Statement for the Trading Cash Account?

Yes. Members will receive a statement annually in September.

How do you pay for trades and Membership?

Trades need to be pre-purchased before an order can be placed. Members can use a credit card, we accept VISA, Mastercard, VISA Debit and Mastercard Debit. Or the Trading Cash Account can be elected as the preferred payment method.

To update your payment preference, go to Trading Account | Payments and Invoices.

 

How are more trades purchased?

Additional trades can be purchased by going to TRADING | Trading Account | Trades.

Where do you view available trades?

Available trades can be viewed by going to TRADING | Trading Account | Trades.

How long are my trades valid for?

Pre-purchased trades are valid for 12 months from the date of issue.

Complimentary bonus trades are valid for 1 month from the date of issue.

Can an existing bank account be used for trading activities with SelfWealth TRADING?

We only allow the ANZ Trading Cash Account to be used for trading activities.  We will automatically open an ANZ Trading Cash Account as part of the SelfWealth TRADING application process.

Does the ANZ Trading Cash Account earn interest?

The ANZ Cash account interest rates are as follows:

< $10,000 receive 0%

> $10,000 receive 1%

 

What is the nominated bank account used for?

The nominated bank account is used to transfer funds out of the Trading Cash Account.

Does there need to be funds in the Trading Cash Account before I execute an order?

Yes, funds must be available in the Trading Cash Account before placing an order. The order will not execute if there are insufficient funds in the Trading Cash Account.

What does Market to Limit order mean?

A Market-to-Limit order executes as a market order at the current best price. If the order is only partially filled, the remainder is submitted as a Limit order with the Limit Price equal to the price at which the filled portion of the order executed.

What is a Limit order?

A Limit order is an order to buy or sell stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can be only executed at the limit price or higher.

Are there additional fees for orders placed outside market hours?

No additional fee is charged.

How does making an amendment to an order affect the position of an order in the market?

Amending number of units

If there is an order to purchase 400 units of GGG and the order is amended to 600 units, the existing 400 units will remain in the same position in the market, while the additional 200 units will go to the bottom of the queue within the price interval.

Amending Limit Price

If there is an order to purchase 400 units of GGG at $2.65 and  the order is amended to $2.55, the entire order will be moved to the bottom of the queue for that price interval.

Amending Expiry Date

Will not affect the position in the market.

Payment

Is a Tax Invoice sent out for Memberships and trades?

Yes we will email a Tax Invoice upon payment of Membership and trades.

Can SMSFs pay for my Memberships and trades with a credit card?

SMSF’s cannot have credit cards. We suggest that the SMSF repay the billed credit card.

What account do dividends get paid into?

Dividend payment accounts must be nominated via the share registry for each new holding that is purchased .

Trading Applications

How can the trading application be resumed?

Locate the email titled – SelfWealth TRADING account application (it will include a reference no.) this email is sent from support@selfwealth.com.au, this email contains a resume application link. This email also contains a completion pin that is to be entered at the end of the application. Please check your junk or spam inboxes for this email.

What is the completion PIN?

The completion PIN is used to confirm an applicants identity and to submit their trading application. The completion PIN is 4 digits and is entered at the bottom of the Investor Declarations page.  A completion PIN is sent to all authorised signatories. Each signatory must enter the completion PIN to finalise the application.

Why can't the completion PIN be entered?

All Investor Declarations must be agreed to for the completion PIN to be able to be entered. There is a total of 6 boxes to be ticked.

What causes the EV (Electronic Verification) Check to fail?

  • Name and residential address does not match at least two data sources.
  • Date of birth cannot be validated with at least one data source
  • No customer transaction history has been found for the past three years

Who can certify documents?

  • Judge of the court
  • Justice of the peace
  • Solicitor
  • Police Office
  • Permanent employee of Australia Post with 2 or more years of continuous service
  • Chartered accountant, CPA or member of the National Institute of Accountants with 2 or more years of continuous membership
  • An officer with, or representative of, a holder of an AFS License, with 2 or more continuous years of service with one or more licensees

What documents are required to get an account approved?

One certified Primary document and one certified Secondary Document is required.

Examples of Primary documents:

  • Drivers’ licence
  • Passport (current or expired within 2 years
  • Photo ID Card issued by a State or Territory
  • Foreign Passport or similar document containing a photograph and signature

 

Examples of Secondary Documents:

  • Bank Statement
  • Credit Card Statement
  • Local rates Notice
  • Utilities Bill
  • Tax Assessment Notice

Can Members get their documents certified whilst overseas?

Yes, if Members are currently outside of Australia, documents can be certified by one of the following:

  • A solicitor or barrister qualified in Australia and holding a current practicing certificate. This includes Migration Agents who are also solicitors or barristers qualified in Australia
  • Officers of any Australian bank or other Australian financial institution (bank, building society or credit union) or Australian finance company with offices offshore where the officer has 2 or more years’ service with Australian financial institutions or Australian finance companies
  • A police officer of another country
  • A judge, magistrate, registrar or deputy registrar of an overseas court
  • An Australian consular or diplomatic officer who holds one of the following positions: Consul-General, Consul, Vice-Consul, Trade Representative, Consular Agent, Ambassador, High Commissioner, Minister, Head of a Mission, Commissioner, Charge d’Affaires, Counsellor, Secretary or Attache at an Embassy, High Commissioner’s office, Legation or similar.
  • A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership

General

What is the SW200 and how is it calculated?

The SW200 is SelfWealth’s own benchmarking index available to all members. The SW200 takes the top 200 holdings (by weighting) from the top 200 portfolios (by WealthCheck score). These top 200 holdings are then equally weighted within the index at 0.5% each and are rebalanced quarterly.

How can Members cancel their Membership?

Members need to get in touch with SelfWealth members@selfwealth.com.au to cancel their Membership or Trading Account.

Why are portfolios kept anonymous?

We respect our Member’s privacy, therefore we do not display any information that could make Members identifiable to one another.

Does SelfWealth provide Financial advice?

SelfWealth is not a Financial Product, all information provided is, unless otherwise indicated, factual information and does not involve any recommendation or statement of opinion by SelfWealth or any third party. Such information does not take into account your objectives, financial situation or needs and you should consider obtaining professional financial advice before making any investment decision. SelfWealth operates under AFSL #421789 as General Advice only.

What is CHESS?

CHESS (Clearing House Electronic Subregister System) is the computer system used by the Australian Securities Exchange (ASX) to record shareholdings and manage the settlement of share transactions.

What are CHESS sponsored shares?

Shares that are registered with a stock broker. CHESS sponsored shares are allocated a HIN (Holder Identification Holder) by the broker.

Are the shares purchased through your platform CHESS sponsored?

Yes, all shares brought through SelfWealth are CHESS sponsored.

What time does the ASX market open?

Orders can be placed during the ASX trading hours. Limit orders can be placed outside of ASX trading hours but will not enter the market until the market re-opens. Market than limit orders cannot be placed outside of ASX trading hours.

What is a Broker PID? (Participant Identification Number)

A PID is an acronym for Participant Identification Number which is a Broker’s identification number. PID’s can be located on a CHESS statement, online trading account, or by contacting the current broker.

What are Issuer Sponsored Holdings?

Issuer Sponsored holdings are sponsored by the issuer not by a CHESS participant.

Issuer sponsored holdings use a SRN (Security Reference Number) which typically begin with an “I”. SRN’s can be found on a holding statement or other communication that has been mailed by the company’s share registry.

Where can the "Pershing Account Number" be found?

The Pershing Account Number can be found in the SelfWealth TRADING account under Trading Account | Cash Account.

Pershing Account Numbers begin with P followed by 7 digits.

What is consideration? (The value of the transfer or sale)

The price paid by the buyer to the seller for the securities on the date of transfer/sale, or market value.

Is a separate form required for each stock when completing an Off Market Transfer?

Yes, a separate standard transfer form must be completed for each different class of security and each different registered holding.

What do you use for your username?

Your username is the email address used to register for SelfWealth.

How do you reset your password?

Members can reset their password using the forgot password button on the account login page. Enter their email address in the required field and select send instructions button. An email will be sent that contains instructions on how to reset their password.

What is the cost of the SelfWealth Premium after the 90-day free trial?

SelfWealth Premium is optional. If Members opt-in to SelfWealth Premium the fee is $20.00 per month.

Mobile Trading App

Why can’t Touch ID or Pin be set up for the SelfWealth Account login for the app?

To enable Touch ID or a PIN with the SelfWealth TRADING app it must be set as a default in the phone settings.

Is there an app for an iPad or tablet?

SelfWealth’s site is fully responsive therefore there is no dedicated app for tablets.

Is the SelfWealth TRADING app identical to the desktop site?

The app facilitates trading only, you can view your Dashboard and Portfolio, Stock Analysis, Order Placement and review.

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