Section 1 - Client Information
The Bellmont Securities account opening process has been designed to be as hands off and streamlined as possible. This page outlines what requirements we need from you to ensure the best experience for the client.
What we need
Upon receiving a new client portfolio request, Bellmont will need the following information from you to initiate the account opening process:
- Client Class code
- Certified Trust Deed (if in trust structure)
- Certified ID (drivers licence or passport) for each client associated with the account
It is important that the Class file has been accurately updated and if it has been, this should be all thats required. However, we are realistic and we know that from time to time there will be the need to come back to you for more information. This may be that Class doesn't have all the details required or perhaps the client is transferring existing shares to their new Bellmont account.
There are a couple of common roadblocks which may alter how we open the account for the client.
- Clients not completing their parts of the process. There are 3 emails clients need to review and accept. Namely, the Macquarie cash account, Open Markets share trading account and the Record of Advice. All of this is done electronically and is just button clicking and writing their signature with their mouse or finger on phone.
- Pair of clients only having 1 email address. This results in paper share trading accounts being required by Open Markets for compliance reasons.
- When clients have existing share portfolios to bring across, there will be an extra 1-2 days in the process plus the physical signing of a one page form. This is a broker to broker transfer form. The one pager is required as other brokers will not release shares to each other without signed client requests.
- The overnight linking of the Macquarie CMA to the share trading account.
Section 2 - Data-Feed
The Bellmont Securities accounts have been setup to automatically data feed into Class. As a Class user you will need to setup your login to receive the data. Below are the key details on the setup.
Data is being fed from two sources:
- Open Markets Australia - Broking Account
- Macquarie Bank (CMA Account) - Cash Account
- When the client account is setup Bellmont will email you the clients Open Markets and Macquarie CMA account numbers
- Add Open Markets Australia as a broker datafeed
- Add Macquarie CMA as a datafeed
- Add client account numbers to client file to receive feed
Depending on your class setup you may also need the following:
- Data feed form to be signed by client
- Data then pushes down to the client file once Class & Macquarie have received authorisation