Shares held in SelfWealth will be broker/CHESS sponsored and registered in your name as the beneficial and legal owner of the holdings. This protects you in the case that there are any issues at SelfWealth.
SelfWealth have engaged OpenMarkets as our market participant and CHESS sponsor, therefore your SelfWealth account will be sponsored by OpenMarkets.
Once your account has been approved and a Holder Identification Number (HIN) has been generated for you and linked to your SelfWealth account, you will receive a CHESS statement in the mail confirming that your account is sponsored by OpenMarkets on behalf of SelfWealth.
IMPORTANT: If you have 'issuer sponsored' holdings, i.e. shares that aren't broker/CHESS Sponsored and attached to a HIN, these shares will need to be transferred to your HIN before they can be sold or listed in your SelfWealth account.