FAQs

SELFWEALTH

What internet browser is SelfWealth compatible with?

SelfWealth is compatible with the latest versions of Chrome, Firefox, IE, Safari and Edge.  We do not support old versions of these internet browsers.

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 you cannot set your own reporting dates, however we are continuously developing and implementing new functionality.

How is my performance updated?

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

How is my Portfolio automatically updated?

Once you have established your SelfWealth TRADING account as you buy and sell stock, your portfolio is updated automatically.

Does SelfWealth provide personal financial advice?

No. All information provided on the SelfWealth Website or within the Solution 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 my Target Portfolio?

You can use the strategies of top investors to create a target portfolio and measure it’s performance over time. You will be prompted to set up your Target Portfolio when you first get started in SelfWealth and there are a couple of different construction methods you can use. You 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 you can use the Custom method which gives you full control over your Target Portfolio.

How is my SafetyRating calculated?

SafetyRating measures the diversification of your Portfolio. Your SafetyRating is calculated by SelfWealth based on the number of holdings in your Portfolio, how evenly your Portfolio is spread across different holdings, a measure of the number of holdings considered lower risk in your 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 your Portfolio. A score out of 40 is assigned based on this criteria along with a 1-5 star rating.

What is my WealthCheck score?

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

Where do you source your research data from?

Our Stock Analysis tool is powered by Thomson Reuters.

Can I change my Member Like You (MLY) preferences?

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

Where do I access the Stock Analysis tool?

The Stock Analysis tool can be found accessed from the left hand menu TRADING | Stock Analysis.

What is Estimated Earnings Today?

Estimated Earnings Today is displayed on your Dashboard and is an estimate on your portfolio value throughout the day, this does not take into consideration dividends or intra-day trading. Any purchases made during the day will be valued at the previous days closing value for that day only.

Social Following

What can other Members see of my Portfolio?

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 your nickname, WealthCheck score, Portfolio performance, SafetyRating and Portfolio holdings. If a Member has included your Portfolio in their Target Portfolio they will receive a notification when you make a change to your Portfolio.

How many Members can I watch?

You can watch as many Members as you like. Find other Members you would like to watch under the Members and Community section and add them to your watch list.

How can I stop watching a Member?

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

Can I compare myself to other Members?

Yes. This information is accessible through the Members and Community.

TRADING

Can I trade directly through SelfWealth?

Yes, you can trade the ASX for a flat fee of $9.50 per trade regardless of the size of the trade. 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 my SelfWealth Membership support?

Currently only one portfolio can be linked to each SelfWealth TRADING membership. You are able to view two portfolios one manual (Virtual) and one TRADING. However you can only buy and sell stock from your trading portfolio.

Are the shares purchased through your platform CHESS sponsored?

Yes, all shares brought through SelfWealth are CHESS sponsored.

Can I use SelfWealth TRADING to buy/sell International Shares

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 your transaction, we will not accept orders for securities that are less than $600 (excluding brokerage and charges) unless you already have holdings in that security under our sponsorship.

Can my SMSF use SelfWealth TRADING to trade?

Yes, you can establish a SelfWealth TRADING account with your 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 I change or cancel my orders, and will I be charged for it?

You can change or cancel your orders at no cost as long as the trade has not fully or partially filled. The balance of partially filled orders can be adjusted but you cannot modify the quantity of the filled portion.

Can I deal with Multiple Brokers within SelfWealth TRADING?

You can only use the SelfWealth TRADING brokerage solution.

If my trade fails for some reason will I be reimbursed?

Yes, full reimbursement of trades will be made.

What does good until date mean when placing an order?

Good until date allows you to select a predetermined date for execution of your order. When selected, your order can be filled before or on your 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.

Do you offer Live-pricing?

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

Can I place a stop loss order using your platform?

Currently stop loss is not available with SelfWealth TRADING.

Do you offer a Market Depth tool?

Currently Market Depth is not available with SelfWealth TRADING.

Why won't my HIN transfer?

HIN’s can be blocked for a number of reasons including being held in custody, held as security for a margin loan or because you have outstanding orders. Please contact your broker to confirm.

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 I establish a New HIN when I apply for SelfWealth TRADING?

Yes, you can establish a new HIN when you apply for SelfWealth TRADING.

Am I allowed multiple HIN’s with different brokers?

Yes, you can have as many HIN’s as you like.

Can I transfer my holdings from my existing broker to SelfWealth TRADING?

Yes, holdings can be transferred into SelfWealth TRADING from any Broker. SelfWealth TRADING supports electronic transfer of HINs in the initial sign up of your SelfWealth TRADING Account. If you wish to transfer holdings from your existing broker post application you must complete a Broker to Broker Transfer form. This is located in your 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 account balance for my SelfWealth TRADING settlement 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 I immediately purchase stock after selling another stock?

Unsettled funds are funds that have not yet cleared and settled after selling stock. You 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 your cash account.

Why did my bank transfer fail?

The bank transfer to withdraw funds from your account into your bank account may have failed if the amount requested was not available for withdrawal. To check how much cash is available for withdrawal, go to your Account Summary.

How do I transfer funds into my trading cash account?

To transfer funds into your trading cash account log into your 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, please keep in mind 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 your bank may charge you additional fees. Please contact SelfWealth if you wish to make an in branch transfer. 

How do I transfer funds out of my trading cash account?

To transfer funds out of your trading cash account log into your SelfWealth TRADING account, go to Trading Account | Cash Account.  Select “Transfer Money from Cash Account” under Nominated Bank Account.

Which bank holds my cash? Is my cash insured?

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

Are there any fees associated with the ANZ Cash Account?

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

Do I earn interest on cash in the ANZ cash account?

The ANZ Cash account interest rates are as follows:

< $10,000 receive 0%

> $10,000 receive 1%

What account will my dividends be paid into?

You must nominate the account you would like your dividends to be paid into via the share registry for each new holding you purchase.

Can I purchase ETF only trades?

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

Can I overdraw my cash account?

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

To avoid funds being overdrawn in your 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 my holdings to SelfWealth TRADING from another broker?

There are no additional fees to transfer holdings from another broker to SelfWealth TRADING.

How do I transfer assets from another broker to SelfWealth after my account has been established?

To transfer assets after your account has already been established you need to complete a broker to broker transfer authority form.

How do I transfer assets that are issuer sponsored to SelfWealth after my account has been established?

To transfer assets after your account has already been established you need to complete a Convert issuer sponsored holdings form. If you require this form, please get in touch with the SelfWealth Team.

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. If you require this form, please get in touch with the SelfWealth Team.

Can I apply for SelfWealth TRADING without a 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 $9.50 per month.

How do I place a trade?

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

What sort of account type am I able to set up with SelfWealth TRADING?

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

Where do you source your research data from?

Our Stock Analysis tool is powered by Thomson Reuters.

How do I change my bank account details?

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

Why can't I see my cash balance through my banking institution?

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

Who executes my trades?

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

Will I receive a Financial Statement for my cash account?

Yes. You will receive a statement annually in September.

How do I pay for my trades?

You can pay for your trades as you need them or buy them in packs, we accept VISA, Mastercard, VISA Debit and Mastercard Debit.

How do I purchase more trades?

You can purchase additional trades by going to TRADING | Trading Account | Trades.

How do I see how many trades I have available?

You can view your available trades 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.

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

Can I use my existing bank account for trading activities with SelfWealth TRADING?

We only allow you to use an ANZ Cash account for trading activities.  We will automatically open an ANZ cash account for you as part of the SelfWealth TRADING application process.

Do I need funds in the trading cash account before I execute an order?

Yes, funds must be available in your trading cash account before placing an order. The order will not execute if there are insufficient funds in the trading cash account.

What is the nominated bank account used for?

Your nominated bank account is used to transfer funds out of your 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.

Do I get charged an additional fee for orders placed outside market hours?

No additional fee is charged.

When I make an order amendment, do I lose my position in the market?

Amending number of units

If you have an order to purchase 400 units of GGG and amend 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 you have an order to purchase 400 units of GGG at $2.65 and amend 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.

Trading Applications

What are the requirements to establish a SelfWealth TRADING account?

A list of requirements for each account type can be found here.

 

How do I complete my trading application?

A guide to complete your trading application can be found here.

How do I resume my trading application?

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 your completion pin that is to be entered at the end of your application. Please ensure that you check your junk or spam inboxes for this email.

What is the completion PIN?

The completion PIN is used to confirm your identity and submit your 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 am I not able to enter my completion PIN?

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

I have failed my EV (Electronic Verification) Check, why?

  • 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 my 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 do I need to supply to get my account approved?

You are required to supply one certified Primary Document and one certified Secondary Document.

Examples of Primary documents:

  • Drivers’ license
  • 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

What do I do if my trading application has been pending for more than 30 days?

Please get in touch with the SelfWealth Support Team.

Payment

Can my SMSF pay for my membership with a credit card?

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

Do I receive a Tax Invoice for my membership?

Yes we will email you a Tax Invoice upon payment of your 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 I cancel my Membership?

To cancel your SelfWealth TRADING Membership please email at us members@selfwealth.com.au with your account name and email address.

Why is my portfolio anonymous to others?

We respect your privacy, therefore we do not display any information that could make you identifiable to others.

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)

The Broker PID is a broker’s identification number, which can be located on your current CHESS Holdings statement.

What is a HIN? (Holder Identification Number)

A HIN is a unique number that is issued to you by the ASX when you become a client of a broker.  You can find your HIN on a CHESS statement, on your online trading account, or by contacting your current broker.

Typically, a HIN starts with the letter X, followed by 10 digits.

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”. You can find your SRN on a holding statement or other communication that has been mailed to you by the company’s share registry.

Where can I find my Pershing Account Number?

Your Pershing account number can be found in your SelfWealth TRADING account under Trading Account | Cash Account.

Your Pershing Account Number begins with P followed by 7 digits.

What is my username?

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

I forgot my password, what do I do?

You can reset your password using the forgot password button on the account login page. Enter your email address in the required field and select send instructions button. You will then receive an email that contains instructions on how to reset your password.

What is the cost of the Community after my 90-day free trial?

Members and Community is optional feature. If you opt-in to Members and Community the fee is $9.50 per month.

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