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Overview
The Default Platform feature allows users to set up default superannuation (super) and non-super platforms for use in super rollovers and Income streams. This ensures that the correct platforms are available automatically.
Accessing Default Platform Settings
Navigate to Tools > Adviser Tools > Default Platforms.
Types of Platforms
There are two main types of default platforms you can set up.
| These platforms are used for investments and savings unrelated to superannuation. They typically include various types of investment accounts or savings products. |
| These platforms are specifically used for superannuation, a long-term savings arrangement designed to accumulate money for retirement. |
Configurable Fields
Under each type of platform, you can set up the following fields according to your requirements.
| A wrap account designed for accounts with smaller balances. A wrap account consolidates all investments into one account, providing comprehensive reporting and administrative convenience. |
| A wrap account tailored for accounts with larger balances, offering similar benefits to the Small Balance Wrap but usually with additional features or benefits suited to larger investments. |
| This field sets the maximum account balance that qualifies for the Small Balance Wrap. Balances exceeding this threshold would typically be managed under the Large Balance Wrap. |
Setting Up Default Platforms
From the Platform Default screen choose the Non-Super Platform or Super Platform Defaults column and enter the details for Small Balance Wrap, and Large Balance Wrap by typing into the empty field, then selecting the platform from the drop-down options.
Set the Maximum Threshold for Small Balance Wrap $ by entering the dollar amount in the empty field. Any amount higher than this will be managed by the Large Wrap assigned.
You can apply the default platforms company-wide or to your individual account by selecting or deselecting the tick box in the top right corner of the screen.
Ensure all configurations are saved to apply the default platforms for future super rollover processes.
By setting up default platforms, you can ensure a smoother and more efficient management of super rollovers, tailored to the specific needs and balances of different accounts.