What changes are coming?
Selfwealth is pleased to advise that we are transitioning Australian equities execution, clearing and settlement provider, to FNZ Custodians (Australia) Pty Ltd (FNZ Securities) (PID 3772) from OpenMarkets Australia Limited (PID 1137) (OpenMarkets).
Will I still be CHESS Sponsored?
Yes! You will keep your same HIN and registration details, however your HIN will move to FNZ from Openmarkets
What do I need to do?
To continue trading on your account following the move to FNZ, all signatories to an account must accept the new Terms & Conditions. You can do this now and ensure a smooth migration by following the links in the consent to move email titled “Selfwealth is changing our Australian equities execution, clearing, and settlement provider” sent between March 25-28, 2023.
Why is my HIN moving?
Partnering with FNZ will allow Selfwealth clients to take advantage of their market leading execution capabilities and allow Selfwealth to adapt with future innovations. – One example, you will now be able to elect to receive dividends directly to your Selfwealth cash trading account and remove the need to update the registry every time you purchase new shares. This is the first of more improvements to come.
Who is FNZ?
FNZ Securities is part of the FNZ Group which is a global wealth creation platform with end-to-end technology systems that partners with more than 650 major financial institutions, has over US$1.5 trillion in assets under administration, and over 20 million customers worldwide.
The FNZ Group is also highly esteemed — at the June 2022 Private Banking and Management Awards in Switzerland, the FNZ Group won the award for ‘Outstanding Wealth Management Technology Provider’ and the award for ‘Excellence in Customer Experience’.
FNZ Securities is a market and trading participant of ASX and Cboe, a general participant of ASX Clear, and a general settlement participant of ASX Settlement.
Will my fees increase?
Good news, fees will remain unchanged. This means you will continue enjoying our low brokerage, off market transfer, and DVP/placement fees!
What will happen to my Openmarkets ID?
This will be renamed to “Selfwealth A/C number”. The number will stay the same and will have an ‘S’ added to the front (eg S1234567)
What will happen to my in-market orders?
If your HIN is at Openmakets, your in-market orders will be cancelled after market close on May 5 as it won’t be possible for Openmarkets to settle to your HIN that will be transferred to FNZ after this date. You will be able to resubmit orders once the HIN has moved. To prepare for the move, we no longer accept orders that expire after May 5.
What if I don’t wish to move?
If you don’t wish to move we must receive a request to transfer your HIN to another broker by May 5. If we do not receive a request your HIN will move to FNZ.
Will my ANZ Trading Cash account or BPAY reference number change?
No, these will remain the same.