Wrap account fees
Wrap account fees may include management fees, service costs and adviser fees. You can balance this against the potential benefits of an investment wrap account, such as ease of administration, convenience and simplified tax reporting.
Ask your financial adviser
Wrap accounts are generally only available via a registered financial adviser. Check with your financial adviser to see if a Wrap account is appropriate for you.
Wrap fee offerings can vary, depending on what solution your adviser recommends. Ask your financial adviser for a breakdown of any account fees or charges for setup, maintenance, switching and financial advice.
Wrap account fee benefits
Through Wrap you can access managed funds at wholesale rates. The management fees for wholesale managed funds are usually lower than if you invest in the same funds outside of Wrap. There is also a transparency of fees on BT’s Wrap as a display of all of the fees you pay can be viewed in reporting available online.
Tax benefits for wrap fees
Some Wrap fees may be tax-deductible, depending on your circumstances. It's best to seek professional taxation advice on this.
The price of financial advice
Some financial advisers may directly charge fees for their services. Ask your financial adviser for details up front. Your financial adviser may receive a payment or commission from the investment provider when you set up a wrap account.
Learn more about Investment fees
BT Portfolio Services Limited ABN 73 095 055 208 (BTPS) operates Wrap. An IDPS Guide is available for Wrap and can be obtained from your financial adviser. You should obtain and consider the IDPS Guide before deciding whether to acquire, continue to hold or dispose of interests in Wrap. BTPS is a subsidiary of Westpac Banking Corporation ABN 33 007 457 141 (Westpac). Apart from any interest investors may have in underlying bank accounts held at Westpac through a Wrap Cash Account, or Westpac securities acquired through Wrap, an investment in, or acquired using, Wrap is not an investment in, deposit with or any other liability of Westpac or any other company in the Westpac Group. These investments are subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. Neither Westpac nor any other company in the Westpac Group stands behind or otherwise guarantees the capital value or investment performance of any investments in, or acquired through Wrap.
Did you know?
Investing money for the first time can be daunting. Whilst it’s important to seek professional advice before investing, it’s also good to understand the investment basics.
It’s never too early to start investing money. In fact the earlier you start investing, the more time you have in the market to increase your chances of higher returns on your investments.
