Contact details
Phone: Freecall 1800 888 223
+61 2 8397 1864 (outside Australia)
Hours:
8.30am - 6.30pm, Monday to Thursday (Sydney time)
8.30am - 6.00pm, Friday (Sydney time)
Fax: 1300 793 596
Address:
Locked Bag 3005 AUSTRALIA SQUARE NSW 1215
Email: support@sharetrading.netwealth.com.au

Financial difficulty

If the unexpected happens and you’re having trouble paying what you owe, please get in touch. We may be able to help.

Sometimes unexpected events can occur in life which can leave you needing support to get financially back on track. Our Customer Service team may be able to help customers experiencing financial difficulty by:

  • applying concessions to fees and charges; and/or
  • working with you to develop a payment plan.

Our financial assistance process

  1. If you’re experiencing financial difficulty, please contact us. You will be assigned a dedicated case manager, who will ask you questions about your situation and may ask you to provide documents such as payslips, bank statements and medical certificates.
  2. We will review all information available, and get in touch with you to discuss next steps.
  3. At this point, if you choose to apply for financial assistance, we will ask you to submit an application which we will review and either accept or decline.
  4. If accepted, we will work with you to develop a tailored financial assistance plan. If your application for financial assistance is declined, we will let you know our reasons in writing.

If you prefer, we can also work with a representative nominated by you, such as a financial counsellor. Please provide us with their details at any stage of the process.

If you have already applied for financial assistance with us and you are not satisfied with the response, you have the right to lodge a complaint. Please click here for more information.

Your financial assistance plan

This tailored plan of action will:

  • provide details of the new arrangement
  • highlight any necessary repayments
  • explain when the new arrangement will end, and
  • advise next steps.

We’re here to help

For more information or to apply for financial assistance with us, please contact us.

You may also find these external resources helpful:

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Estate management

If you have recently lost someone close to you, we understand this may be a very difficult time. We want to make it as simple as possible for you to manage their account.

Below is information that will help guide you through this process, from how to notify us through to what documents you will need to provide.

Further detail can be found below in our Frequently Asked Questions.

To assist in understanding some of the terms which are used in the below that you may not be familiar with, we recommend reviewing the Glossary below.

What you need to do

Step 1: Notify us

To ensure the account of your recently deceased client, family member or friend is protected1, please notify us by phone or email of their passing as soon as possible. Please provide us with the deceased’s:

  • Full name
  • Account number/s
  • Postal address
  • Date of birth
  • Date of passing

The property and assets of someone who has passed away is known as a ‘deceased estate’, so your notification will be received by our Estate Management team. They will send you details of the next step, which relates to the formal documentation we require. Once your details have been verified, the team will:

  • send you details on what to do next ;
  • remove all authorities who have access to the account and restrict all trading; and
  • switch off any recurring fees.

Please note that from here, we are only able to take instruction from the Estate executor, Administrator or appointed solicitor.

Step 2: Provide formal documentation

The documentation we need will depend on the account ‘type’ held by the deceased. We will send you a list, but if you already know the account type, please select from the below to find the general requirements:

Once we receive this documentation, the shares in the account will nearly be ready for transferring or selling. At this point, we are also able to provide more detailed account information, for example, details on the types of ‘holdings’ (assets) within the account. How to find the details of the account/s held by a deceased customer.

Step 3: Transfer or sell the shares

Once we have all the necessary documentation, we can ‘disburse’ the shares, which means we can sell or transfer them. Again this process depends on the ‘type’ of account held by the deceased, so please see the relevant selection below for more information:

We’re here to help

We are very sorry for your loss, and want to help you by making this process as simple for you as possible. For more information on managing the account/s of a deceased estate, please view the below Estate management frequently asked questions and glossary. Alternatively, please contact us.

Estate management glossary

  • Administrator - The person/s appointed by the court in the event of no Will.
  • Beneficiary - Someone who receives or shares in the proceeds from a deceased person’s estate.
  • Death certificate - An official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
  • Deceased estate – The property and assets of someone who has passed away.
  • Executor - The person/s named in a Will to take charge of the deceased’s assets and property.
  • Last will and testament (will) - A legal document in which a person specifies how they wish their estate to be distributed after their passing.
  • Letter of administration – A documents granted by the Supreme Court, giving authority to an administrator to collect and distribute the assets of the estate, in the absence of a valid Will.
  • Probate - A document issued by the Supreme Court that confirms the validity of a Will, and authorises the executor/s to act. If this was issued as an electronic grant after 26/11/2018, a non-certified copy is acceptable.
  • Next of kin - A person's closest living relative or relatives.
  • Trustee - A trustee is an individual person or member of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.

Frequently asked questions

Share Trading

Someone I know with an account has passed away without leaving a will. What should I do?

In the event that a customer passes away without leaving a will, the documentation we require depends on the amount of ‘holdings’ (assets) in their account.

For holdings of less than $50,000, we require notification of the customer’s passing from an Administrator or the Next of kin. We will review the account and respond with details of next steps.

Where the deceased has over $50,000 in holdings, we require a Letter of administration in lieu of a will.

Please send these details to us with the relevant account name and number, your contact details and information about your relationship to the deceased.

Can I still trade on a Deceased Account as the executor?

No, once we receive notice that a client has passed away we will be required to place a restriction on the account1. Before the account can be used to buy or sell shares again, we will require the relevant document to be provided and follow our standard process.

I am the executor or beneficiary of an estate where the deceased did not have a trading account, but I do. How do I transfer these shares into my account?

In this instance, the documentation we require depends on the amount of holdings (assets) held with the share registry.

For accounts with less than $50,000 in holdings we require:

Option 1

  • A certified copy of a Probate/Letter of administration, or

Option 2

  • A certified copy of the Death certificate; and
  • A certified copy of the Last will and testament (will); and
  • A Small Estates Indemnity form.

For accounts with more than $50,000 in holdings we require:

  • A certified copy of a Probate/Letter of administration.

Once we receive the relevant documentation, the shares will need to be transferred. To do this, please complete a Deceased Estate Off Market Transfer. Please note that fees may apply.

Please email or post the documentation to us.

How can I find details of the account/s held by a deceased customer?

We can provide information to the Estate executor, Administrator or appointed solicitor, such as details of current portfolio holdings (account assets) and historical transaction summaries, provided we receive the following documentation:

Please send your request to us with the relevant account name and number, your contact details and information about your relationship to the deceased.

How do I manage the estate of a deceased customer who held an account in a company name?

Unlike people, companies cannot become ‘deceased’, so we treat these accounts differently to ‘deceased estates’. In the event that a director of a company with an account in its name passes, you will firstly need to contact ASIC to update the company information. Please then let us know via phone or email. We will request a certified copy of the Death certificate.

To add a director, please complete an Authority to trade form and send this to us with a certified copy of the new director’s identification (passport or driver license).

Please email or post the documentation to us.

I am the executor of an estate where the deceased held an options account. How do I manage this?

Firstly, please notify us of the customer’s passing by phoning us. This will mean that for the options account, we will be able to reduce the potential for market risk by closing any open positions as quickly as possible.

We will then require certain formal documentation, but which depends on multiple factors. We will advise on which formal documentation we require when we receive your notification.

When an account is locked pending receipt of all documents, how can dividends and other proceeds be accessed?

Once we are notified that an account holder has passed away, we lock1 the account until all relevant documentation has been provided. During this time, any proceeds from the account, such as dividends or accrued interest, will be inaccessible through our website.

The Estate executor can still access these funds, via the relevant share registry. You may need to provide the share registry with new details, such as an updated tax file number, dividend plan and banking instructions. Please contact the relevant share registry to confirm.

What is a testamentary trust and what documents are required to setup the account?

A testamentary trust is a trust established under a will, providing control over how assets are distributed to Beneficiaries when the trust owner passes away. We recognise two types of testamentary trusts’:

It is possible to set up a trading account in the name of a trust. To do this, please send us the following documents to confirm the trust has been established:

  • A certified copy of the will; and
  • A certified copy of the Death certificate; or
  • A certified copy of the Probate/Letter of administration in relation to the estate trust.

Please email or post the documentation to us.

Please also set up a trading account to reflect the new trust structure.

How do I close the trust of a deceased account holder?

If a member of a trust or ‘trustee’ has passed away, you may wish to close down any trusts that they were a part of (e.g. self-managed super fund (SMSF), retirement fund or family trust). To close down an account owned by a trust, the executor or remaining trustee (as applicable) will need to send us instruction with a certified copy of the Death certificate along with a certified copy of the most recent trust deed (a legal document setting out rules for establishing and operating the fund).

Please email or post the documentation to us.

What formal documentation do I need to provide if someone with an account in an individual name has passed away?

An individual account is an account belonging to one person only, e.g. John Smith.

Once we receive notification of the passing of an individual account holder, we will ‘lock’ the account to ensure it is protected1. We will then require the below documentation.

For an account with:

Nil ‘holdings’
(assets within the account)
Holdings worth under $50,000 Holdings worth over $50,000

Please provide a certified copy of the Death certificate.

Once received we will
close this account.

Please provide:

And

  • Option 1
    • A certified copy of a Probate/ Letter of administration.

Or

  • Option 2
    • A certified copy of the Death certificate; and
    • A certified copy of the Last will and testament (will); and
    • A Small estates indemnity form (per account).

 

Please provide:

Please email or post the documentation to us.

Once received, the shares are ready to be sold or transferred.

How do I sell or transfer the shares of someone with an individual account who has passed away?

An individual account is an account belonging to one person only, e.g. John Smith.

Once we receive notification of the passing of an individual account holder, we will ‘lock’ the account to ensure it is protected1. We will then require the below documentation.

Once we receive this documentation, the shares will be ready to be sold or transferred.

Selling the shares

To do this, we require all Estate executors to complete a Deceased estate trade form.

Sale trades will then be placed at ‘market price’ (the price of the share at the time of sale) by the participant.

Phone brokerage applies – Please refer to the FSG to view phone brokerage rates.

Proceeds will be paid by cheque in the name of the deceased, and sent to the address nominated on the Deceased estate trade form within five days of the trade being made. Please note that we are unable to direct funds to a nominated bank account.

Transferring the shares

To arrange for the shares to be transferred to one or more executor/s or Beneficiary/ies, please complete a Deceased estate off market transfer form. If the transfer is to be made to an existing trading account, please complete an Internal Bulk Off Market Transfer form instead.

Please email or post the documentation to us.

Once received, we will action your request within 14 days, however if this is not possible for any reason we will let you know.

Note: We understand that you may not be ready to sell or transfer all shares at a single point in time. If this happens, we will send you a reminder, but please note that any shares remaining in the account three months after the initial sale or transfer will automatically become Issuer Sponsored. This means they will be registered as per the current name and contact details held on associated with your Holder Identification Number (HIN) with the relevant share registry for each security. You would then need to then liaise directly with the share registry to manage the shares.

What formal documentation do I need to provide if someone with an account in a joint name has passed away?

A joint account is an account belonging to more than one person, e.g. John Smith and Anna Smith.

Once we receive notification that one of the joint account holders has passed away, we will ‘lock’ the account to ensure it’s protected1. The next step is to send us a certified copy of the Death certificate, or a certified copy of a Probate/Letter of administration.

Please email or post the documentation to us.

Once received, the shares are nearly ready to be sold or transferred. If there are no shares within the account, the account will be closed.

How do I sell or transfer the shares of someone with a joint account who has passed away?

A joint account is an account belonging to more than one person, e.g. John Smith and Anna Smith. When we receive notification that one of the joint account holders has passed away, we ‘lock’1 the account until all relevant formal documentation is received.

Once this documentation is received, the shares will be automatically transferred to the remaining account holder/s existing trading account and the joint account will be closed. If there is no existing trading account/s, we will automatically set one up – there is no need to reapply.

The shares are no longer considered as part of a ‘deceased estate’, as they are now in an account held solely by the surviving customer/s.

The shares may then be:

Sold

Simply log into the website and place a trade.

Transferred

Visit our website and navigate to the forms page. Here, you will find all transfer options and instructions, including:

  • transferring the securities to another broker
  • transferring securities from another broker
  • transferring securities from a share registry

To transfer shares to a share registry, please phone us.

Please email or post the documentation to us.

What formal documentation do I need to provide when someone with a formal trust account passes away?

A formal trust account is one opened using a trust deed (a legal document setting out rules for establishing and operating the fund), such as a self-managed super fund (SMSF), retirement fund or family trust account. A formal trust account with may have a title like: John Smith and Anna Smith <Smith SMSF>.

Once we receive notification that one of the formal trust account holders or ‘trustees’ has passed away, we will ‘lock’ the account to ensure it’s protected1. We then require:

  • A certified copy of the Death certificate; and
  • A certified trust deed amended to acknowledge the death of one trustee and replace them with another.

Please email or post the documentation to us.

Once received, the shares are nearly ready to be sold or transferred.

If there are no shares within the account, the account will be closed. If there are shares in the account, a new trading account will need to be opened, reflecting the new trust structure. To do this, please apply here.

How do I sell or transfer the shares of someone with a formal trust account who has passed away?

A formal trust account is one opened using a trust deed (a legal document setting out rules for establishing and operating the fund), such as a self-managed super fund (SMSF), retirement fund or family trust account. A formal trust account with may have a title like: John Smith and Anna Smith <Smith SMSF>.

Once we receive notification that one of the formal trust account holders or ‘trustees’ has passed away, we will ‘lock’1 the account until all relevant documentation has been received.

When this step is complete, shares are ready to be transferred to a new account set up to reflect the new trust structure. Here they can be sold if the ‘new’ account owner/s chooses.

To transfer shares to a new account, please complete an Internal Bulk Off Market Transfer form. Once received, we will action your request within 14 days, however if this is not possible for any reason we will let you know.

Please email or post the documentation to us.

Dissolving the trust

Another option is to close or ‘dissolve’ the trust. (Please visit the ‘How do I close the trust of a deceased account holder?‘ FAQ above for more information.)

1Under ASX business rules, all CHESS holdings on individual and single trust accounts must be ‘locked’ on initial notification of a deceased estate. This means shares cannot be transferred or sold until all requirements have been satisfied.