We’ve introduced a new automatic sell instruction ‘pro rata across managed funds and managed portfolios only’ to better manage your clients’ accounts where they have a mix of managed funds and managed portfolios.


What’s changing?

As of 1 December, our automated solution for you and your clients is now available to enable accounts to proportionally sell any managed funds and managed portfolios when the cash account falls below the minimum amount. This is now the new default sell instruction. All other sell instruction options are still available.

How does this impact me?

No action is required by you unless you wish to use this new sell instruction.

  • For existing accounts, in the investment instructions screen you will see a new automatic sell instruction 'pro rata across managed funds and managed portfolios only’
  • When creating a new account for your client, 'pro rata across managed funds and managed portfolios only’ will be pre-populated as the default sell instruction.
  • Please note: If we need to top up the platform cash account and are unable to successfully sell investments using the sell instruction specified (excluding where the sell cannot proceed is due to trade minimums), the system will automatically revert to sell managed funds and managed portfolios on a proportionate basis.
Adviser Support

Please see below to assist you to navigate this change to automatic sell instructions in North Online.

A short video which demonstrates the changes on North Online.
 

We’re here to help

If you have any questions, please contact your Business Development Manager, North Training Consultant or, the North Service Centre on 1800 667 841 or north@amp.com.au.

What you need to know

The information on this page has been provided by NMMT Limited ABN 42 058 835 573, AFSL 234653 (NMMT) and is general in nature. It is for professional adviser use only and must not be distributed or made available to retail clients. A person should consider whether this information is appropriate for them before making any decisions. It’s important a person considers their circumstances and reads the relevant product disclosure statement and/or investor directed portfolio services guide and target market determination, available from northonline.com.au or by contacting the North Service Centre on 1800 667 841, before deciding what’s right for them. 

You can read NMMT's Financial Services Guide online for more information, including the fees and benefits that companies related to NMMT, N.M. Superannuation Pty Limited ABN 31 008 428 322, AFSL 234654 (N.M. Super) and their representatives may receive in relation to products and services provided. You can also ask us for a hard copy. Past performance is no guarantee of future performance. MyNorth Super and Pension, North Personal Super and Personal Pension are issued by NM Super as trustee for the Wealth Personal Superannuation and Pension Fund ABN 92 381 911 598. MyNorth Investment is operated by NMMT. MyNorth Investment Guarantee is issued by National Mutual Funds Management Limited ABN 32 006 787 720, AFSL No. 234652.  

MyNorth and North are trademarks registered to NMMT.