Loginfrequently asked questions (f.a.q.)
about iportfolio
What is iportfolio?
iportfolio is a fully administered, online service that provides advisers and their clients with a complete solution for all their reporting needs.
Starting with its core an administration and tax reporting service available from as little as $396 per annum (incl. GST), iportfolio allows advisers to select additional services including corporate actions and mail house support, as well as a payments function, made under a limited power of attorney.
Regardless of which services are selected, advisers and their clients will be provided with secure 24/7 access to our iportfolio website.
Starting with its core an administration and tax reporting service available from as little as $396 per annum (incl. GST), iportfolio allows advisers to select additional services including corporate actions and mail house support, as well as a payments function, made under a limited power of attorney.
Regardless of which services are selected, advisers and their clients will be provided with secure 24/7 access to our iportfolio website.
Why use iportfolio?
iportfolio allows advisers to access to a seamless, end to end, fully administered portfolio service, without the expensive overhead of an internal administration function.
Our purpose built technology platform provides tax support for a range of complex assets, as well as unique portfolio reporting and management features, which are unavailable in other platforms.
Our purpose built technology platform provides tax support for a range of complex assets, as well as unique portfolio reporting and management features, which are unavailable in other platforms.
How can you offer iportfolio for $396?
The key to providing such a feature rich service at this price point is automation and technology.
To enable high levels of automation, iportfolio's base administration fee covers Standard Investments* such as those where electronic data feeds are readily available i.e. cash, term deposits and all listed Australian securities (including Exchange Traded Funds).
Of course, owning our own technology means that unlike other administrators, we do not have to pay external parties for software licences. It also allows us to ensure our platform is continually optimised to reduce processing overheads, allowing us to keep our fees low.
* Other assets can also be supported on iportfolio, however these will attract an additional fixed dollar administration fee.
To enable high levels of automation, iportfolio's base administration fee covers Standard Investments* such as those where electronic data feeds are readily available i.e. cash, term deposits and all listed Australian securities (including Exchange Traded Funds).
Of course, owning our own technology means that unlike other administrators, we do not have to pay external parties for software licences. It also allows us to ensure our platform is continually optimised to reduce processing overheads, allowing us to keep our fees low.
* Other assets can also be supported on iportfolio, however these will attract an additional fixed dollar administration fee.
What investments does iportfolio support?
Cash, Term Deposits and ASX Listed Equities, Exchange Traded Funds and Interest Rate & Hybrids securities are all within our Standard Investment range.
Non-Standard Investments will attract a premium to offset the complexity or manual processing overhead associated with these assets.
Non-Standard Investments such as ASX Exchange Traded Options, ASX Trading Warrants and International Equities will attract an additional fixed monthly administration fee, payable regardless of the number of securities held.
Foreign Currency Accounts, Unlisted Managed Funds and Unlisted Australian Shares will also attract an additional administration fee, however these fees will be applied to each individual asset held.
Non-Standard Investments will attract a premium to offset the complexity or manual processing overhead associated with these assets.
Non-Standard Investments such as ASX Exchange Traded Options, ASX Trading Warrants and International Equities will attract an additional fixed monthly administration fee, payable regardless of the number of securities held.
Foreign Currency Accounts, Unlisted Managed Funds and Unlisted Australian Shares will also attract an additional administration fee, however these fees will be applied to each individual asset held.
Is iportfolio data hosted “offshore”?
No, iportfolio is hosted by Next DC (NXT), an ASX listed data centre provider.
Our servers are hosted at their Perth data centre, which is based in Malaga, Western Australia. NXT’s data centre facilities feature multiple fail safe measures to ensure iportfolio is maintained without interruption to you and your business.
Our servers are hosted at their Perth data centre, which is based in Malaga, Western Australia. NXT’s data centre facilities feature multiple fail safe measures to ensure iportfolio is maintained without interruption to you and your business.
How often is the iportfolio database backed up?
iportfolio’s data is backed up each evening and distributed to multiple NXT DC data centres around Australia.
Is iportfolio administered “off-shore”?
No, all manual administration tasks are performed by our administration team based in Perth.
available banks and brokers
What Bank Accounts can be used?
In order to keep costs down, we require you to use cash accounts for which we can obtain daily transaction and balance data feeds.
Currently we support a range a cash accounts, including but not limited to:
Macquarie Bank CMA
ANZ V2 CMA
DDH Graham Cash Account
Bank Accounts supported by SISS Data
Where you do not use one of these cash accounts, contact us to find out how we may be able to support your particular requirements.
Currently we support a range a cash accounts, including but not limited to:
Where you do not use one of these cash accounts, contact us to find out how we may be able to support your particular requirements.
What Brokers can be used?
The daily reconciliation of ASX securities is critical to the automation and accuracy of portfolios held on iportfolio.
iportfolio supports the execution of securities through any broker that is able to provide us with access to one daily composite file or three files (our preferred format) containing the following information:
Daily CHESS Holdings file - which contains all CHESS balances as at the “close” of the previous business day;
Daily CHESS Transaction file - which contains all CHESS movements for the previous day, accompanied by the respective CHESS transaction Codes; and the
Daily Trades file - which contains details of all ASX Contracts executed for the previous business day.
In addition, contact notes will generally be sent to iportfolio for storage within our online document archive.
Brokers we currently support include:
Alto Capital
AUSIEX
Canaccord Genuity
CPS Capital
Desktop Broker
Euroz/Hartleys
Morgans Stockbroking
Ord Minnett
Sentinel Stockbroking
Shaw & Partners
Where you do not use one of these brokers, contact us to find out how we may be able to support your particular requirements.
iportfolio supports the execution of securities through any broker that is able to provide us with access to one daily composite file or three files (our preferred format) containing the following information:
In addition, contact notes will generally be sent to iportfolio for storage within our online document archive.
Brokers we currently support include:
Where you do not use one of these brokers, contact us to find out how we may be able to support your particular requirements.
What Term Deposits can be used?
Ideally, Term Deposits should be sourced through Australian Money Market (AMM), through which we obtain electronic data feeds.
Where AMM is not used to make Term Deposit investments, advisers will need to provide us with the details of each investment made.
Where AMM is not used to make Term Deposit investments, advisers will need to provide us with the details of each investment made.
other information
How long does it take to apply for an iportfolio account?
Opening an iportfolio account involves the completion of a sequential, online application process.
Typically, it will take approximately 10 minutes to enter the details of a new portfolio and print out the required documentation.
We may also require TFN, ABN and/or ACN details, depending on the services required and the related legal entity of the portfolio.
Typically, it will take approximately 10 minutes to enter the details of a new portfolio and print out the required documentation.
We may also require TFN, ABN and/or ACN details, depending on the services required and the related legal entity of the portfolio.
What are the upfront costs to establish an iportfolio account?
There are no costs involved in the establishment on an account.
Can I transfer an existing portfolio to iportfolio?
Yes, iportfolio employs a comprehensive and highly structured online account application process to ensure details of your existing portfolio arrangements, such as the entity type, CGT parcel selection method, carried forward CGT losses and GST registration details are captured.
In addition, advisers will need to provide us with an asset schedule containing relevant parcel cost base information. Where iportfolio is replacing an existing portfolio service, this information will typically be contained in an Unrealised Capital Gains report.
In addition, advisers will need to provide us with an asset schedule containing relevant parcel cost base information. Where iportfolio is replacing an existing portfolio service, this information will typically be contained in an Unrealised Capital Gains report.
What are the onboarding costs to transfer an existing portfolio to iportfolio?
There are no costs involved in the transfer of an existing portfolio.
Does iportfolio account for portfolios which are registered for GST?
Yes, all portfolios can be accounted for on the basis that GST registration applies.
Quarterly and Annual Pro-forma Activity Statements can also be produced to assist you with your ATO reporting requirements.
Quarterly and Annual Pro-forma Activity Statements can also be produced to assist you with your ATO reporting requirements.
How and when are fees calculated?
iportfolio calculates and invoices its ongoing administration fees, monthly or quarterly in arrears, depending on your existing invoicing cycle for clients
Any fees payable in relation to previous months, will be included in the month in which your portfolio account becomes “Active” within iportfolio.
For example, where an existing Fund becomes “Active” in the October and reporting is required from the beginning of the financial year, you will be invoiced for four months of fees, i.e. the monthly fee for October, as well as back dated fees for the months of July, August and September.
Any fees payable in relation to previous months, will be included in the month in which your portfolio account becomes “Active” within iportfolio.
For example, where an existing Fund becomes “Active” in the October and reporting is required from the beginning of the financial year, you will be invoiced for four months of fees, i.e. the monthly fee for October, as well as back dated fees for the months of July, August and September.