Managing an account with a Lasting Power of Attorney

Helping someone manage their Netwealth Account

A Lasting Power of Attorney (LPA) is the most common form of Power of Attorney. It is an ongoing arrangement with no expiry date, that will allow another person to make decisions on your behalf. Once the document is registered, the financial affairs part of the document can be used immediately with your permission while you still have capacity, or it can take effect from when you lose mental capacity.

If you are opening a Netwealth account on behalf of another person with a power of attorney or want your attorneys to manage your Netwealth account for you either now or in the future, then you must include instructions in your Lasting Power of Attorney to allow for a discretionary management scheme to be used.

The suggested wording from the Office of the Public Guardian is as follows:

"My attorneys may transfer my investments into a discretionary management scheme. Or, if I already had investments in a discretionary management scheme before I lost capacity to make financial decisions, I want the scheme to continue. I understand in both cases that managers of the scheme will make investment decisions and my investments will be held in their names or the names of their nominees."

This should be written in Section 7 of the LPA document within the Instructions box.

When opening the account online this should be opened in the name of the client. On provision of the Lasting Power of Attorney we will be able to give you and any other attorneys delegated access into the account. You will need to provide a certified copy or provide an access code to the 'Use an LPA' government service.

If you have any questions about the process please do contact us at or 020 3795 4747 and our team will be happy to help.