Moving your holdings across to Selfwealth is simple, and can be done either during or after the application process.
1. During the Application Process
During the application process, you will be asked if you wish to move your Holder Identification Number (HIN) across to Selfwealth. This process is known as a 'HIN Transfer'.
Once your application is approved, you will need to print and sign a broker to broker transfer form and return it to Selfwealth so that we can instruct your broker to release your HIN to us.
2. After the Application Process
The process for moving your shares from your current broker to Selfwealth after opening a Selfwealth account is still simple. Once again you will need to complete a broker to broker transfer form, however as you already have a HIN with us we will simply move your holdings across to your Selfwealth HIN.
Completing the Broker to Broker Transfer Form
Although it may seem daunting at first, filling in a broker to broker transfer form is relatively straightforward once you know where to find all of the relevant details. Before completing the form, it is recommended that you have the below ready:
- your account details with your current broker, including your HIN (if applicable)
- your Selfwealth account details
- photo ID for all account holders (if transferring from CommSec or AUSIEX this ID must be certified)
Please Note: as we cannot accept digital signatures, you will need access to a printer so that you can print the form and sign it in pen.
Section 1: Your Selfwealth Account Details
The first section on the form requires you to enter your SelfWealth account details.
- Your 'OpenMarkets ID' can be found by following the instructions here
- The 'Selfwealth Trading Account Name' will be the name of the individual or entity the account is held under
Section 2: Your Other Broker Details
The second section of the form requires you to enter your details with your other broker.
- The 'Sponsoring Broker' is the name of your other broker
- Each broker trading on the ASX is assigned a number known as a 'PID' - if you are unsure of your other broker's PID you can consult one of your CHESS statements or contact your other broker. Most brokers will also include their PID on their website.
- This is the name of the individual or entity the account is registered to with your other broker. Note that this must be exactly the same as your 'Selfwealth Trading Account Name' (if it does not match, you must update your details with Selfwealth or your other broker to match).
- If your trading account is a company, trust or SMSF account, you must enter your 'Account Designation' with your other broker
- Your 'Registration Address' is the address to which your other brokerage account is registered. This must match the registered address you provided to Selfwealth (if it does not, you must update your details with Selfwealth or your other broker to match).
- Enter your HIN from your other broker here. Please note that some brokers operate on a custodial model, meaning they will not allocate a HIN to you (e.g. IG Markets, Superhero). If your other broker has not allocated a HIN to you, enter your account number instead.
Section 3: Checklist
Make sure to complete this checklist prior to proceeding to the final section. This ensures that all of the details you've entered are correct and ensures that your transfer is processed as quickly as possible.
Section 4: Choose a Transfer Type
The transfer type you should select depends on several factors:
- Select the first option if all of the below apply to you:
- You are applying for a new portfolio with Selfwealth
- You selected the option to transfer your existing HIN when applying to Selfwealth
- You were allocated a HIN by your other broker (some brokers such as IG Markets and Superhero do not allocate a HIN to you)
- Select the second option if any of the above do not apply to you. If you select this option, you will need to individually list the holdings you wish to transfer in the table below.
Below is an example of how you should list your holdings if you select the second option:
Once you've completed Section 4, you're ready to sign the form! When signing the form, make sure that all account holders sign and date the form in pen. As stated before, we cannot accept digital signatures so make sure to complete this step.
You are also provided with an extra page at the bottom of the form just in case all of your holdings do not fit on one page. You can include as many of these extra pages as you would like, as long as all of them are signed and dated at the bottom.
Submitting the Form
Once your form is complete, you can either upload it to your Selfwealth application (if applying for a new portfolio) or email it to us at firstname.lastname@example.org. Make sure that you include photo ID for each person who has signed the form, and remember that if transferring from CommSec or AUSIEX this ID must be certified.
Once you've sent us the form you can sit back while we take care of the rest! We will let you know via email once the release is approved by your other broker.