Pakenham, Cranbourne & Beaconsfield

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Wrap Accounts

What is a Wrap account?

Simply put, a Wrap is an administrative platform which “wraps around” your portfolio. A Wrap account allows a personal or superannuation investor to access a wide range of wholesale managed funds, Direct equities and term deposits while providing all reporting, record keeping and taxation history.

A Wrap account is also known as an “Investment Platform”

The platform provides online access for both you and your adviser. You can view performance and transactions and other portfolio details such as your asset allocation.

Your adviser uses the platform to review and  buy and sell investments on your behalf. A key difference between a Wrap superannuation fund and a ‘standard’ superannuation fund is that the core of a Wrap account is the “cash account”. All contributions and investments flow through this cash account allowing complete control of which investment option dividends, fund distributions or additional contributions are added to. Importantly a Wrap account keeps each individual investor’s assets separate from any others’ which means all benefits, such as franking credits, accrue to the particular investor who owns them and are not pooled across all members. This presents you and your adviser with tax planning opportunities.

Wrap accounts are suitable for those superannuation investors who want access to direct equities without the responsibility of being the Trustee of their own Self Managed Superannuation Fund  and for any investor who wants up to date information at their finger tips, the assistance of an adviser to manage a portfolio and be completely free from any record keeping  or administration.

Wrap account fees are tiered so the cost, as a percentage of funds invested, reduces as the portfolio grows. There are few hard and fast rules about minimum account size required to open an account but Insight Wealth Partners will consider the benefits a client will get against the cost they will pay prior to making a recommendation. A smaller fund benefits less from the administration efficiency simply as a smaller portfolio should be easier to administer anyway whilst also incurring fees on the highest tier levels. Our “putting you first” philosophy means that we consider that a Wrap account is not a one size fits all vehicle suitable for every investor.

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