MLC Online Applications Adviser Guide Introduction MLC Online

MLC Online Applications Adviser Guide

Introduction MLC Online Applications have been designed to provide you with an improved means of submitting client application forms to us. Whether it is super, pension or investment, MLC is improving the efficiency of the implementation process, allowing you more time to focus on the important things. 2

Benefits for you Financial planning offices using MLC Online Applications will benefit from: • Immediate tracking • MLC will confirm receipt of the online application form and you can view and track its progress via the “My Work Tracker” functionality almost immediately. • Improved accuracy • By typing and validating forms before they are submitted, errors due to insufficient or incorrect information are significantly reduced. Errors caused by illegible hand writing are removed altogether, saving time on follow up. • Better use of resources • Online Applications allows you to pre-populate a form and ‘Save draft’ to your own computer or network prior to client meetings. This maximises your time. • Improved compliance efficiency • Ability to save and print submitted applications, improves compliance efficiency 3

Benefits for your clients • Removal of postage time • Applications sent via post can take up 3 days to arrive at MLC’s mail room, depending on the point of origin. With Online Applications you remove postage and sorting time and with a key stroke, MLC receives the application straight into it’s workflow • Secure delivery • Online Applications are immediate, and remove the worry of paper applications being lost or opened before the envelope arrives at MLC 4

How Online Applications work 1. Log in here 2. Select the product • The next screen provides product menu • Access to ‘Draft Applications’ previously entered • Access to ‘Submitted Applications’ • Links to PDS menu Product selection includes: • MLC Master. Key Super Fundamentals • MLC Master. Key Pension Fundamentals • MLC Master. Key Investment Service Fundamentals 5

How it works (cont. ) 3. Enter the client data • If the applicant is an existing customer, listed under your Adviser number, complete a search and the client data will be prepopulated in the form • Click on ‘Save as Draft’ at any time and return to the form later • Use the ‘Validate Page’ button during data entry or at completion to ensure all required data has been provided, and is in the right format. 4. Review • Once the form is complete and validated you will be presented with a review screen • Check data prior to submission to ensure it is correct, then: a) Accept and submit the application to MLC for processing, or b) Decline and save as draft, to return the Application Menu screen • Once submitted, track the application through ‘My Worktracker’ once processing has begun 6

Changes to application process • Because no investor signature is captured by MLC with an Online Application, there is a change to ‘Redemptions’ and ‘Change to bank account details’. • Each of these request types, when received will need to contain the following: • Name • Address • Date of Birth • Customer Number • Binding nominations, Benefit Transfer Requests and Transfer of Assets must still be signed by the applicant, however they do not stop the online application process. • With National Margin Lending, the online application is set ‘pending’ until receipt of Margin Loan approval. • For further details see following pages. 7

MLC Online Applications: Important Information Licensee obligations and client signatures • MLC is not changing your obligations under your licensee agreement. • You must capture your clients authority to proceed with the application either by them signing the paper application form that is attached to the Product Disclosure Statement or by signing the necessary declarations on the printed draft online application. • As best practise we recommend you retain a copy of the application form and client authority for seven years. MLC may at any stage request a copy of this file. Verification of client transaction requests without signature • MLC verifies identification for certain transactions such as redemption requests or changes to bank account details previously submitted online. • Where there is no signature on file, we verify that the person making the request is the same as the applicant. This is done via our Call Centre. If we are unable to contact the investor then we will issue the investor with a claim form requesting proof of identity or a completed statutory declaration before we can process the request. For urgent redemptions we recommend the investor contact MLC. 8

MLC Online Applications: Important information (cont. ) Binding Nomination, Benefit Transfer Request and Transfer of Assets Forms • These instructions can’t be received online as signatures and originals are required. This doesn’t stop the Online Application process from being completed, simply, a)Wait until an account number has been issued to you and note it on the applicable form, or b)Print a ‘Supplementary Cover Sheet’ associated with the submitted application and send to MLC. This helps us accurately match this request with the applicant. If the cover sheet is not attached and we can not easily identify the applicant then we may return this to your office for more information. • These forms can also be faxed to MLC, don’t forget to include the ‘Supplementary Cover Sheet’. How do I send cheques? • An applicant/investor may choose to submit their initial payment via cheque. (Please note Direct Debit requests and Credit card instructions can be submitted online. ) • As account numbers are not issued as soon as an online application is submitted an investor would not be able to quote their account number when sending a cheque. In this scenario a Supplementary Cover Sheet must be used. A cover sheet is available 9 for all submitted applications on the front menu page.

MLC Online Application Q & A’s Why is this only available for some Master. Key products? As each product solution is developed we have been making it available to our advisers. This has been a valuable process to helps us capture feedback for future releases. Can MLC view or process applications that have been saved as drafts? MLC can neither view nor process any application that has been saved as a draft by you. The ‘save as draft’ functionality is for advisers to commence an application and complete it at a later stage. Does Online Applications allow for welcome packs to be issued online? No, welcome packs are mailed to the client within 5 working days. Information is also available via the Clients login to mlc. com. au once the application is established. From what locations can I access online applications? Access from any computer that has an internet connection. You will simply need to have your username and password for the adviser secure section of mlc. com. au. Once I submit an application do I need to send anything further? No, applications are received directly into our back office ready for processing. Do not send a copy of the application form as this may create duplication. How can I/my staff get trained on how to use this? Your MLC Representative can assist you with training and any associated questions. I have just submitted and need to make a change – how do I do this? Once submitted you can not edit or make changes to the application. You will need to complete a change of details request and if the application is not completed by MLC (check ‘My Work Tracker’ for progress) then contact MLC immediately. I’m not the one who looks at this. Can you give my staff access? For security purposes we can only give access to your client information at mlc. com. au to the principal adviser associated with the client accounts. What should be done if a submitted application does not appear on ‘My Work Tracker’? If after 24 hrs the submitted application does not appear on ‘My Work Tracker’ you will need to contact MLC. You will need to provide the Client’s Name, Date Submitted and if known the Client ID and the application’s reference number. MLC will investigate the issue and advise you if you need to provide additional information. 10

Customer service If you have any queries or feedback on Online Applications contact MLC on 133 652 Speak to your MLC Representative if you have any questions regarding implementation of Online Applications into your business model. 11