In addition to their Cash Management Account (CMA), Macquarie offer their clients an Accelerator high interest account.
The Accelerator account is linked to the CMA and offers a higher rate of interest on balances. To fund and draw from the accelerator account, funds must move through the linked CMA.
For more information on the product, click here: Cash Management Account | Macquarie
What’s new?
Previously, DASH has been able to add an unlisted asset to a client’s portfolio to represent the Accelerator accounts and the balance of these was manually updated.
DASH now offers the ability to include the Accelerator account into your client’s portfolio and view the balance via data feed which updates every 30 minutes.
- For Cash Management accounts, transactions are imported under DASH product code: MacqbankCMA.ADI
- For Accelerator accounts, transactions will be imported under DASH product code: MacqbankAccelerator.ADM
Set up Requirements
Once you have established the Accelerator account with Macquarie, please email Adviser Services at clientservices@dash.com.au so that we can link the account.
The authority carries over from the linked CMA, so a separate authority form is not required. If DASH already has access to the CMA, we will have access to the Accelerator account.
Rebalancing clients with an Accelerator
As the Accelerator account is attached the CMA account, DASH cannot use the funds within it to rebalance a portfolio.
The rebalance will always (even for unlisted assets) calculate orders based on the client’s portfolio’s target composition, meaning orders for an Accelerator account will be calculated and sent through the rebalance process with DASH investment operations.
This can be optionally overridden as part of the rebalance by manually adjusting orders.
When an order for an Accelerator account is included in a rebalance, you will be required to deposit/withdraw the calculated value from the Accelerator account to the CMA via the Macquarie Portal. DASH will not move these funds on your behalf.
Associated Fees
Balances in the Accelerator accounts will be included in the portfolio administration fees.
Existing Unlisted Accelerator Accounts
If you have an unlisted asset established as an Accelerator account for your client and would like to update it to the live data feed, please contact clientservices@dash.com.au