Partnering with onepath

How to establish an adviser sales account number (SAN)

To be registered with ANZ Wealth OnePath your dealer group must have a Product Issuer Agreement in place and the following documentation must be completed.

You can send this documentation to us via:

How to establish a corporate sales account number (SAN)

If you are wishing to establish a sales account number (SAN) in the name of a company, the following documentation is required:

You can send this documentation to us via:

How to establish a dealer group relationship

To establish a dealer group relationship with OnePath, you will need to follow the below steps. If you have questions about this process please contact our team.

For each application you will require:

  1. One Signed Copy of the OnePath Product Issuer Agreement
  2. A completed Registration of Dealer Group form
  3. A completed Sales Account Number application form (for each representative)
  4. Provide a copy of your Australian Financial Services Licence
  5. Provide a copy of the driver licence or passport for the Authorised or Responsible Officer who has signed the PIA on behalf of the Dealer Group.

You can send this documentation to us via:

Once we receive all completed documentation, we will:

  • Keep in contact with you to let you know the progress of your application
  • Send the paperwork to our Sales team to complete the due diligence check
  • Confirm the new Master Sales Account Number for the Dealer Group
  • Confirm the new Sales Account Numbers for the Authorised Representatives
  • Return a signed copy of the Product Issuer Agreement to your company, with OnePath sign off, to be retained for your records.

Important:

This new Agreement does not permit ‘grandfathered’ commission payments Commission payments with respect to products issued by OnePath Custodians Pty Limited and OnePath Funds Management Limited will cease when clients are transferred to a Dealer Group where this new Product Issuer Agreement applies.
This change is as a result of a review of our ongoing commission arrangements following the recent Financial Services Royal Commission recommendation to remove ‘grandfathered’ commissions. Commission payments with respect to life insurance products issued by OnePath Life Limited are not affected.

For more information, or assistance with the above please contact out team below:

  • Email: aps@onepath.com.au
  • Phone: 1800 222 066 (option 4), Monday to Friday 8.30am to 5.30pm AEST.

How to update your contact details

You can notify us that your contact details have changed via:

  • Email: aps@onepath.com.au
  • Phone: 1800 222 066 (Option 4)
  • Post: OnePath APS Team, GPO Box 5367, Sydney NSW 2001

Note, all dealer group change of bank details or changes to payment frequency must be authorised in writing and signed by the dealer groups Authorised or Responsible officer. This document can be emailed to aps@onepath.com.au

How to notify that you've changed dealer groups

To advise us that you have changed dealer groups, the following documentation is required:

You can send this documentation to us via:

Transferring clients to a different dealer group

In order to have your clients transferred to your new dealer group, the following documentation is required:

  • Release letter from previous dealer group
  • Acceptance letter from your new dealer group

Note, Excel format is preferred including the client's name, policy number and sales account number (SAN)

You can send this documentation to us via:

Transferring clients within your current dealer group

In order to have your clients transferred between advisers under the same dealer group, the following documentation is required:

  • Signed and dated request from the Authorised or Responsible Officer of the dealer group. Alternatively, this request can be sent from the registered email address OnePath hold for the dealer group

Note, Excel format is preferred including the client's name, policy number and sales account number (SAN)

You can send this documentation to us via:

Adviser Payment Services – FAQ’s, Tips and Hints

  • Can I see my client's accounts online?

Yes! Adviser Advantage provides financial advisers the flexibility to view and generate reports at any given time. Follow the below link to the Adviser Advantage log in page:
https://www.onepath.com.au/adviser/AdviserAdvantage/adviser-login.aspx

If you currently have not registered for Adviser Advantage, creating your online access is easy, simply go to the above link click register in the log-in details box; then follow the prompts. Creating your online access should be done after you have requested your Sales Account Number (SAN) to be created.

Note, Commission statements for the last 12 months can only be generated via adviser advantage.

  • What type of reports can I access on Adviser Advantage?

Currently Adviser Advantage offers a variety of reports. Please refer to the below list of available reports;

  • My Business – By Sales Account (report of FUM by sales account and product)
  • My Business – By Product (report of FUM by product)
  • Client Contact List (client name, address and contact information)
  • Client Balances (name, address, phone, insurance premium and portfolio balances)
  • Client Portfolio Balances (name, address, policy number, investment fund, unit information)
  • MoneyForLife Account Balances (policy number, balance, MoneyForLife investment balance, MFL commencement date, MFL anniversary, protected income base and maximum annual income details
  • Employer Fund List (list of all employer funds including fund name, fund number, product, portfolio balance and number of members)
  • Employer Fund Report (detailed report showing fund summary, default investment options and member listing is optional)
  • My Commission – By Sales Account (displays date paid, policy number, client name, product, date commenced, premium, commission type and amount
  • Work In Progress Report (date received, date modified, policy number, client name, type of transaction, status and outstanding)
  • Does OnePath offer a change of servicing adviser form?

Yes! Please use the the Change of Adviser form

  • When will commissions generate?

Commissions will only generate a) once a policy is inforce and b) the premium is received.

Once a commission amount is generated it is then paid to your Dealer Group within their nominated commission cycle.

OnePath pays commissions to registered Dealer Groups on a monthly or weekly basis (Payment frequencies vary between dealer groups and we suggest speaking with your dealer group for the payment frequency applicable to you).

  • Who do I contact for...
Adviser Payment Services (APS)
1800 222 066 (Option 4)
aps@onepath.com.au
Risk Adviser
1800 222 066
Risk.adviser@onepath.com.au
Adviser Services
1800 804 768
adviser@onepath.com.au
  • Enquiries on commissions paid (not applicable for SmartChoice members)
  • Change of Adviser Requests
  • Set up of New Adviser Requests
  • Reports (if greater than 12mths history is required)
  • Commission Adjustments
  • Update/ Changes to adviser details
  • Partial and Bulk transfer requests
  • Retail Insurance product information
  • Retail Insurance Policy Details
  • Retail Insurance Premium Details
  • Submitting of any forms for new Insurance quotes
  • Pension & Investments/ Superannuation product enquiries (New & Existing)
  • New business applications Claims & Hardship
  • What are the commission structures for OneCare Policies?

Pre LIF Grandfathered policies (before 1st January 2018)

Policy Year Upfront Stepped Hybrid Level
Year 1 115% 95% 70% 32%
Year 2 11% 12.5% 24% 32%
Year 3 11% 15% 24% 32%
Year 4 11% 17.5% 24% 32%
Year 5+ 11% 20% 24% 32%

Post LIF (after 1st January 2018)

Policy Year From 1 Jan 2018 From 1 Jan 2019 From 1 Jan 2020
Upfront Level Upfront Level Upfront Level
Year 1 88% 30% 77% 30% 66% 30%
Year 2 22% 30% 22% 30% 22% 30%
Year 3+ 22% 30% 22% 30% 22% 30%

** Please note all percentages are inclusive of GST

  • What is the difference between a Sales Account Number (SAN) and a Master Sales Account Number?

The difference is the Sales Account Number (SAN) is your personal code used to write up new business or to identify yourself when interacting with OnePath. Whereas the Master Sales Account Number represents your Dealer Group you fall under.

  • Does my Dealer Group have authority to transfer my policies to other advisers?

Yes! The legal agreement that is in place sits between OnePath and the Dealer Group you represent. As part of this agreement, the Dealer Group has authority to request OnePath to enact certain changes (including transfer of policies) which we are required to action.

Remuneration, Fund and Product codes

This should be used in conjunction with your commission statement to identify the commission and event type and product description. Click here to access