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If you are considering establishing your own AFSL you need to firstly understand the obligations and requirements. This guide outlines some key questions to ask yourself

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There are essentially three main steps to moving your clients to your new AFSL on one of BT’s platforms

1. Establish a dealer group – on the platform for your new AFSL if it doesn’t already exist

2. Connect advisers – to the dealer group code for your new AFSL

3. Move clients – to your new AFSL

We have produced step by step guides to help you.

When it’s time to move your clients to a new AFSL on one of BT’s platforms there are a few key questions to consider and facts to check. We’ve listed some of these below.

1. Dealer group release letter
Obtain a letter of release from your old dealer group in order to move clients to your new AFSL. If this is not possible there are alternatives provided in each of the guides.

2. Which clients?
Are all clients under your existing AFSL moving with you to your new AFSL or just some of them? If you’re moving some of your clients you’ll need to provide a list of the clients who should be moved.

3. Client fees
Will your client’s pricing change when you move them to the new AFSL? If the client’s fees are increasing you will need to provide us with client consent to move to the new pricing.

4. Client consent
Regardless of whether we require you to provide us with client consent to move them to your new AFSL, you will need to follow your own compliance requirements for obtaining client approval.

5. Are you moving multiple badges?
You will have to submit an application to us for a new dealer code for each badge.

6. Platforms Access
Who in your practice would you like to have access to the platform and should that access be read only or full access?

If you would like more information please contact us:

Disclaimer

BT Portfolio Services Ltd ABN 73 095 055 208 AFSL 233715 (BTPS) operates BT Wrap and Panorama Investments and administers Panorama Super and SuperWrap. Asgard Capital Management Limited ABN 92 009 279 592 AFSL 240695 (ACML) operates Asgard eWRAP Investments and administers Asgard eWRAP Super/Pension. BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 (BTFM) is the trustee and issuer of Panorama Super, SuperWrap and BT Super, which are part of Retirement Wrap ABN 39 827 542 991, and the trustee and issuer of Asgard eWRAP Super/Pension, which is part of the Asgard Independence Plan – Division 2

ABN 90 194 410 365. Westpac Financial Services Ltd ABN 20 000 241 127 AFSL 233716 (WFSL) is the responsible entity and issuer of interests in BT Managed Portfolios. In this disclaimer, “Product” refers to BT Super, BT Wrap, Panorama Investments, Panorama Super, SuperWrap, Asgard eWRAP Investments, Asgard eWRAP Super/Pension or BT Managed Portfolios.

Please consider the applicable Product Disclosure Statement or other disclosure document, available by contacting BT on 1300 784 207 or by visiting bt.com.au, before deciding whether to acquire, continue to hold or dispose of a Product. Investors should consider whether a Product is appropriate for them. Conditions, fees and charges apply and may change. BTPS, ACML, BTFM, WFSL, WSAL are subsidiaries of Westpac. An investment in a Product is not an investment in, deposit with or any other liability of Westpac or any other company in the Westpac Group. The Products are subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested.

Westpac and its related entities (other than the Insurer in relation to benefits payable in relation to Protection Plans) do not stand behind or otherwise guarantee the capital value or investment performance of a Product or

guarantees the benefits payable in relation to Protection Plans. This information is for use by advisers only. It is not to be copied, used, reproduced or otherwise distributed, circulated or communicated to any retail client or any other party, or attributed to any member of the WestpacGroup. The information provided is an overview only, is general in nature and does not take into account any client’s personal circumstances. No company in the Westpac Group intends that this publication be used as the primary source of the readers’ information.

The information shown on this site is general information only, it does not constitute any recommendation or advice; it has been prepared without taking into account your personal objectives, financial situation or needs and you should consider its appropriateness with regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice. You should also consider obtaining personalised advice from a professional financial adviser before making any financial decisions in relation to the matters discussed hereto.

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