FirstNet Adviser help

If you chose to align accounts you will create an alignment switch that will update the clients account in line with the Investment allocation as per the model portfolio.

As the alignment switch is always a percentage switch we can only estimate the ($) change on the account based on the last fund valuation.

For adviser authorised accounts units are normally allocated on the following working day once the entry and exit price has been calculated.

For client authorised accounts this will be performed on receipt of the signed form in line with the cut-off times

On submission of the alignment switch request, for those accounts where you hold authority, the following happens:

1. The transaction request is automatically entered into the Colonial First State system.
2. If we receive the alignment switch request before the cut-off time, we will process the switch using the unit prices calculated, based on market valuations, at the close of business for that day. The switch request will then be processed on the same day. Units are normally allocated on the following working day once the entry and exit price has been calculated and our registry system is updated.
3. You can view the details of the transaction at any time, by selecting Transaction history from the left navigation menu, using the Tracking tool.
   

You will need to have your client sign the Switch and Account rebalance form and return this to Colonial First State for processing.

On receipt of the signed form by Colonial First State the alignment switch will be processed using the unit prices calculated, based on market valuations, at the close of business for that day. Units are normally allocated on the following working day once the entry and exit price has been calculated and our registry system is updated.

To get authority to transact online without the need for your client signature download the Adviser Online Transaction Authority form.

Client authorised alignment switch requests are stored on FirstNet for 12 months before they are purged from the system.

The transaction status will show the status of the alignment switch. Statuses that will display are:

Adviser authorised transactions

• Processing
  This is when the alignment switch has been sent to Colonial First State.
• Submitted
  The switch has been accepted and is awaiting unit pricing.
• Failed
  The alignment switch has failed. To view details of why an alignment switch has failed, click on the link 'failed' and it will display the reason for failure.

Client authorised transaction

• Generating forms
  This status is for Client authorised accounts only. The alignment switch is currently being confirmed.
• View/print
  This will appear for Client authorised transactions. Click on the transaction status link and print the form generated for your client to sign and return to Colonial First State. After the link has been clicked, it will update to Signature required.
• Signature required
  This will appear for Client authorised transactions. Click on the transaction status link and print the form generated for your client to sign and return to Colonial First State.
• Failed
  The alignment switch has failed. To view details of why an alignment switch has failed, click on the link 'failed' and it will display the reason for failure.
  

Each failed transaction should be investigated to determine the failed reason.

If the transaction failed due to a pending transaction, re-submit the alignment switch transaction once the pending transaction has completed.

You cannot submit a switch request on an unfunded or a closed account.

For more help on failed transactions call Adviser Services on 13 18 36, Monday to Friday 8.00am-7.00pm (Sydney time).

What are the processing times for online transactions?

Unauthorised batches will be stored in FirstNet for 12 months before they are deleted from the system.

The client(s) account will be aligned to the model portfolio and auto-rebalancing will remain on. Auto-rebalancing will align the accounts as per the frequency set on the account.

Unavailable investment options are options that are suspended, restricted or otherwise unavailable and include terminating investment options. Due to the long-term nature of FirstRate Investment Deposit investment options, these options are considered unavailable for FirstNet Adviser Model Portfolio tools.

For detailed information regarding unavailable investment options, call Adviser Services on 13 18 36, Monday to Friday, 8am to 7pm, Sydney time.

Please also see below if your client holds FirstRate Term Deposits or FirstRate Wholesale Term Deposits (together 'FirstRate Term Deposit products').

I'm trying to perform a bulk switch using model portfolios. What happens to my client’s accounts?

• For accounts without unavailable investment options
  FirstNet Adviser will perform the bulk switch to re-align your clients' accounts as instructed by you.
  
• For accounts with unavailable investment options

Your clients' accounts containing unavailable investment options fall into one of two categories:

1. Accounts partially invested in unavailable investment options
2. Accounts entirely invested in unavailable investment options

FirstNet Adviser applies different processes when re-aligning these accounts.

1. Accounts partially invested in unavailable investment options

FirstNet Adviser will re-align only the portion of your clients' accounts outside the unavailable investment options.

Money in unavailable investment options cannot be switched and will remain invested as is.

FirstRate Term Deposit products
For your clients' accounts partially invested in FirstRate Term Deposit products, - unless you specifically elect to switch from FirstRate Term Deposit products in the alignment process, the portion of your clients accounts invested in FirstRate Term Deposit products will remain as is.

2. Accounts entirely invested in unavailable investment options

FirstNet Adviser will not allow you to re-align these accounts.

Money in unavailable investment options cannot be switched and will remain invested as is.

FirstNet Adviser will remove these clients from your bulk switch.

FirstRate Term Deposit products
For your clients' accounts entirely invested in FirstRate Term Deposit products, - unless you specifically elect to switch from FirstRate Term Deposit products in the alignment process, your clients' accounts invested in FirstRate Term Deposit products will remain as is.

For more information on FirstNet Adviser, contact the FirstNet Adviser Support team on 1300 360 636, Monday to Friday, 8.30am to 5.30pm, Sydney time.