The OneAnswer Portfolio Service provides a gateway to a range of products. You, with your adviser, choose which products to invest in and hold on a single portfolio which we administer.

How it works

The OneAnswer Portfolio Service allows you to build your investments into a single customised portfolio.

We act on instructions to buy and sell your investments.

A custodian holds your investments which allows for the consolidation of your paperwork.

How do you join?

To join the OneAnswer Portfolio Service, you must have:

  • a financial adviser
  • a portfolio of $10,000 or more.

To join, read the Client Agreement and brochure, then complete and send your adviser the application form and relevant documents.

What are the main benefits?

The OneAnswer Portfolio Service's main benefit is that it provides a simple and efficient way to manage your portfolio, giving you:

  • Access to a wide range of investments
  • Information through regular and comprehensive reports and statements. You can also have online access to your portfolio information
  • Online access to view your portfolio
  • The convenience of having your investments in one place
  • Reduced paperwork no investment applications to complete and one consolidated end-of-year tax report.

For more information, see the more information tab above.

Your adviser helps you manage your investments

Together with your adviser, you build your portfolio and decide which investments to buy or sell. The agreement you have with your financial adviser, and the extent of their role, will be set out in the separate agreement you have with them. We’re not responsible to you for anything that your adviser does (or fails to do).

What are the fees and costs?

The administration and custodian fee will vary depending on the size of your portfolio. You will also incur costs for making certain transactions on your portfolio and for services you receive from your financial adviser. For more information, see fees and expenses tab above.

How can you make deposits and withdrawals from your portfolio?

When you join the OneAnswer Portfolio Service, we’ll open a Cash Management Account for you. All your cash transactions flow through this account. You can make regular deposits to and withdrawals from your Cash Management Account at the frequency you choose.

We hold your investments and keep the paperwork sorted

We've arranged for the appointment of a custodian to hold your investments. The custodian can also appoint sub-custodians to hold your investments. You remain the beneficial owner of your investments. If more than one client holds the same investment (for example, the same managed fund) then all those investments will be held together in the name of the custodian, and your beneficial interest in the investment will be identified in the custodian's records. Currently, we've arranged for FNZ Limited to provide custodial services. You can find out more about these custodial services, including how FNZ Limited is remunerated from the OneAnswer Portfolio Service, by reading a copy of FNZ Limited's Disclosure Statement.

 

Features and benefits

Simple and efficient managements of your portfolio

By arranging for a custodian to hold your investments, we take care of the paperwork and administration around buying, selling and holding investments based on your instructions. To make an order to buy or sell a product, talk to your adviser first.

Your adviser will then tell us what your instructions are - it's as easy as that.

A gateway to a range of investments

Through your adviser, you have access to a wide range of investments - from managed funds, New Zealand and international shares, fixed interest and cash (including foreign currencies).

Investments that are made available through the OneAnswer Portfolio Service are not guaranteed by ANZ Bank New Zealand Limited, Australia and New Zealand Banking Group Limited (together ‘ANZ Group’), or any other person. We do not research or review investments to determine their suitability for you.

Online access

You can get access to view your holdings and transactions online. Talk to your adviser about whether viewing your portfolio online is right for you.

Regular and comprehensive reporting

We provide regular and comprehensive reporting - making it easier for you to keep track of your investments.

Income collection

The OneAnswer Portfolio Service will receive and report on any income (or other benefits) from your investments in your Cash Management Account.

Your investments held in custody

Any investments you hold through the service are registered in the name of a custodian (or their sub-custodians). Nevertheless, you remain the beneficial owner of the investments. Holding the investments in custody allows the OneAnswer Portfolio Service to handle all transactions on your behalf as well as consolidate your portfolio reports. If you want to stop using the OneAnswer Portfolio Service, you can either sell your investments or we will need to transfer legal ownership of the investments back to you.

Taxation reporting

The OneAnswer Portfolio Service will send you a consolidated statement after the end of the tax year (i.e. after 31 March). This statement details the income you've received during that tax year as well as any tax you've paid on assets you hold through the service. When you've got investments in a portfolio investment entity (PIE), the OneAnswer Portfolio Service will provide you with an investor certificate detailing your income, tax credits, any allocated rebates, as well as any PIE tax paid on your behalf.

Tax deduction on fees

Some of the fees charged by your financial adviser or the OneAnswer Portfolio Service could be tax deductible. Your authorised financial adviser or tax adviser will be able to tell you more.

Interest on cash balances

You may receive interest on money held in your Cash Management Account. The rate of interest that you receive

  • will depend upon the currency in which the money is held
  • may vary from time to time
  • is paid to your Cash Management Account after administration fees are deducted by the custodian, FNZ Limited.

The current interest rates and information about the custodian's administration fee are set out in FNZ Limited's Disclosure Statement.

Regular withdrawals

If you need a steady income stream from your investments, you can set up a regular withdrawal facility. The amount you choose will be deposited in your bank account at the frequency you choose.

More about how the OneAnswer Portfolio Service works

You appoint a financial adviser

To join the OneAnswer Portfolio Service, you must have a financial adviser. The agreement you have with your adviser, and the extent of their role, will be set out in the separate agreement you have with them. We’re not responsible to you for anything that your adviser does (or fails to do).

Decide which investments to buy or sell

You, together with your adviser will need to decide which investments to buy or sell to build or customise your portfolio. We only act on instructions to buy and sell products so we don’t decide whether these decisions are suitable for you.

Give us your instructions

To tell us what you want to do with your investments, you or an authorised person you’ve named can instruct your financial adviser, who will provide this information to us. 

Your adviser can give us instructions without you needing to authorise them as long as you have given authority to your adviser (Adviser Authority) over your OneAnswer Portfolio Service account. 


 

 

 


 

How the service works

Fees and expenses

The following fees and expenses are deducted from your Cash Management Account by the custodian, FNZ Limited, when they are due:
 

  • the administration and custodian fee
  • your financial adviser's fees
  • FNZ  Limited's administration fees
  • expenses on your account

If you instruct us to do so, we can pay any fee rebates and trail commission on your investments to you or your adviser from the money we hold on your behalf. 

The administration and custodian fee

We charge an administration and custodian fee (calculated as a percentage of the total value of your account) each year as set out below. This fee is calculated using the monthly daily average balance of your account and paid monthly in arrears. It covers all the services provided (or that are provided on our behalf) by the OneAnswer Portfolio Service.

 

Total value of your account Annual fee

Less than $500,000

0.35%

Greater than $500,000

0.30%

Greater than $1,000,000

0.25%


Expenses on your account

We can payexpenses on your account. These expenses include brokerage (calculated as a percentage of the value of each transaction or a fixed fee) for each sale or purchase into listed shares and fixed interest as set out in the table below.

 

Product Brokerage

Shares

0.4% or $40 (whichever is greater)

Plus any external charges

Fixed interest

0.3% or $40 (whichever is greater) 

Plus any external charges

Other expenses include third party brokerage, break fees, management fees, and trustee fees (within a fund). You should ask your authorised financial adviser for information about these.
 

Your financial adviser fees

Your financial adviser will charge you a fee for their services. They which may include helping manage you investment account. Your adviser will discuss and agree their fees with you.

By signing the Client Agreement with us, you authorise these agreed fees to be paid (by deduction) from your Cash Management Account. 

FNZ Limited's administration fees

The custodian, FNZ Limited, may deduct the following from your Cash Management Account:
 

  • an administration fee from interest earned on your Cash Management Account. The fee will not be greater or less than the relevant maximum and minimum rates set out in FNZ Limited's Disclosure Statement.
  • an administration fee on any transaction where money is converted from one currency into another. This fee will not be greater than the maximum rate set out in FNZ Limited's Disclosure Statement.

Fee rebates

Sometimes you will receive fee rebates (such as for managed funds). On your application form, you can choose whether these rebates are paid to you or to your adviser. You should ask your financial adviser for information about these.

Trail commissions

Some investment providers will pay trail commission to advisers when their clients acquire an investment product. On your application form, you can also choose whether these trail commissions are paid to you or to your adviser.

 

Who do I contact?

If you need more information or have any questions about the OneAnswer Portfolio Service, please contact your financial adviser.