Who 'owns' the assets?
Hi, Do the assets you purchase rest in the name of the individual (HIN) who originated the 'order' or in the name of a trust or other corporate arrangement ? - Submitted by Mike
This is a good question. All clients in the InvestSMART PMAs are the legal owner of the underlying assets. So all of the holdings you see in your InvestSMART account are registered in your individual name or your SMSFs/Company name/Trust name on CHESS. Every InvestSMART PMA has its own HIN (holder identification number) just like if you were to open a share trading account with a broker like Commsec or NABTrade etc.
In the case of InvestSMART not existing tomorrow, you would be able to easily arrange for the transfer of the holdings in your account out to a brokerage account of your choice.