What happens to all Corporate Actions?
As we are the CHESS registered address all corporate action documentation is sent to us. For dividends, distributions, capital returns etc. we notify the relevant share registry our bank details (when the client first purchases the shares) and all payments are paid directly to this account. We than allocate the funds to your client’s DDH Advantage Cash Fund. With regards to share purchase plans, takeover offers, entitlement and rights issues etc we scan the document and forward it to you. If you and your client decide to participate it is up to you to liaise with your back office to take up the offer. Traditionally, the payment will be made from the broker’s trust account and the funds redeemed from the client’s DDH Money Market account. Any corporate actions requiring signatures will need to be signed by us as POA for The Trust Company (Superannuation) Limited. It is important that should you wish to participate you give us plenty of time to sign the form so that we can send it to the relevant registry before the closing date.
How do I transfer money from DDH Advantage Cash Fund to my client's call account?
You simply need to send an email to info@amgsuper.com.au with the client’s name/member number and how much you wish to transfer. Assuming funds are available, the request is usually actioned on the day of receipt and funds will clear into the call account overnight.
What access do I and my client have to view the status of their account?
AMG offers online access to both the adviser and client. To gain access, simply send an email to info@amgsuper.com.au requesting a user ID and Password. Should your client wish to have online access they will also need to send an email to info@amgsuper.com.au quoting their member number, date of birth and address.
What notification do I receive when correspondence is sent to my client from AMG?
As the adviser, you will receive emails notifying you of specific movements on the account. For example, when the account is first established, when the client’s rollover comes in, when their insurance has been approved etc.
When are adviser service fee payments made to me?
If you have elected to charge a adviser service fee, contribution based fee or insurance premium fee you will be paid monthly in the funds fee run. Payment will be made specifically to your payroll department and a summation of the fees will be provided to them. It is then up to your payroll department to pay this onto you.
Are there any investment rules that I need to adhere to?
Yes. If your client has more than 50% of their total portfolio in direct equities (cash excluded) than you must adhere to the funds two investment rules:
- No more than 25% of the client’s total portfolio can be invested in one stock
- At least 50% of the client’s total portfolio is to be invested in stocks listed in the ASX S&P 200.
Due to these rules we have set a minimum balance of $20,000 for those accounts wishing to trade direct equities.
Do my clients have the ability to trade derivatives on these accounts?
AMG allows its members to invest in plain vanilla style warrants (i.e. installment and self-funding). Barrier and trading warrants are prohibited. CFD’s and exchange traded options are also prohibited.
Do you allow your members to trade for themselves using an online discount broker such as Commsec and E*Trade?
No. We require all members who wish to trade direct equities to have a nominated broker.
I can’t see funds in my client’s call account. What is causing this?
There are two explanations (1) We have not been notified to transfer funds to the call account and they are still sitting in the DDH Advantage Cash Fund or (2) the DDH Money Market Account has not been linked to the respective broker account. If this is the case, please email and we will arrange for it to be linked.
How are your administration fees, pension payments, insurance premiums etc deducted from my client’s account?
All fees and pension payments are deducted from the DDH Advantage cash account. Fees are deducted monthly while pension payments are made as per your client’s instructions (i.e. monthly, quarterly, yearly). It is for this reason why we require 5% of your client’s total investment is to be held in the DDH Advantage Cash fund.