Idealx MDA Client Agreement

Definitions and interpretation #

A specific meaning or rule in the relevant service clause prevails over a general definition. References to an accepted schedule or record mean the version supplied for that service, not an undisclosed internal policy. Mandatory legal rights and obligations are not displaced by these definitions.

For termination under this MDA contract, Business Day means a day other than a Saturday, Sunday or public holiday in the place where notice is received by the MDA Provider. The maximum two-Business-Day notice right prevails over longer general platform notice periods.

Commencement and availability #

This is the master contract for Idealx Auto Pilot and separately allocated Idealx Managed Strategies. A managed service begins only after the relevant appointment, client assessment, advice, documents, acceptance and provider activation have been completed. Existing customers are not automatically migrated into an MDA.

1. Parties and service roles #

The parties are the Client identified in the Investment Program; Trend Investor Services Proprietary Limited (Trend), AFSL 255475, as the MDA Provider when it accepts the Client for the service; and Idealx Platform Pty Ltd, ABN 83 694 912 126, ACN 694 912 126, as platform operator and investment manager within its effective written appointment. The issued Service Particulars identify the appointment, relevant provider details and service scope. No managed service begins before those arrangements take effect.

Platform’s address is Suite 109, Level 1, 40 Burgundy Street, Heidelberg VIC 3084, Australia. Support: support@idealx.com. Notices: notices@idealx.com. Complaints: complains@idealx.com. Trend’s direct contacts and external dispute-resolution details accompany the service in its Financial Services Guide. Platform routes MDA complaints to the responsible provider; the Client need not identify that provider correctly to lodge a complaint.

The AP Team comprises appropriately appointed and supervised personnel; it is not a separate contracting entity. An external adviser or custodian contracts directly with the Client where the completed arrangements require it. A Console login alone confers no investment management or advice authority.

2. Contract documents and priority #

This agreement incorporates the completed client Investment Program, selected Auto Pilot or Managed Strategy mandate, accepted Fee Schedule, custody particulars and specific authorities. Mandatory law prevails. A specific restriction in the Client’s Investment Program overrides a broader generic power. For the managed service, these documents prevail over conflicting general platform, ordinary client-approved strategy, cash or Console provisions.

The FSG, advice record and investment disclosures are supplied in their appropriate capacity; acknowledging their receipt does not waive rights or make every disclosure a contract. Fees apply only as actually disclosed and accepted. Uncompleted particulars do not authorise trading or deductions.

Important differences from direct investing: the manager makes decisions within your mandate without asking for each trade. Assets may be held through the disclosed custodian or nominee, and voting, corporate actions, withdrawal timing and access to issuer communications follow those arrangements rather than direct personal control. Management and performance fees may apply in addition to transaction and investment charges. The service does not guarantee returns. The electronic acceptance review prominently identifies these differences and your acknowledgement of them.

3. Eligibility, advice and acceptance #

Before activation the provider or properly appointed adviser must obtain relevant client circumstances, assess the service and investment program, and provide the required personal advice and disclosures. A growth preference or self-selected risk questionnaire alone is not treated as completing that process. The Client must supply accurate information and promptly report material changes.

For companies, trusts, SMSFs and joint accounts, the contracting capacity, beneficial interests, investment powers and required authorisers are established before activation. A common login does not merge legal account holders. Overseas access is subject to the laws and approved distribution arrangements of the relevant jurisdiction, not merely absence from sanctions lists.

Acceptance may occur electronically through an authenticated process that links the legal account holder and authorised signers to the exact delivered documents. Trend’s acceptance and activation confirmation complete the service commencement process. No pre-ticked box, silence or ordinary login activates management.

The document titled Investment Program includes the responsible adviser’s suitability opinion and reasons, investment strategy, discretion and significant risks, who reviews it, and any external adviser or custodian’s identity and contacts. Limited or inaccurate personal information can make the MDA unsuitable, and a change in circumstances can make a previously suitable service cease to be suitable. The Client should promptly tell the provider of material changes.

4. Two managed services #

Auto Pilot covers the eligible account assets and available cash expressly identified in the Investment Program, including qualifying future deposits. Manual investment instructions are restricted while active.

Managed Strategies cover only the accepted allocation and its proceeds, income and accepted subsequent contributions. Other account assets remain outside that mandate. The Client does not acquire units in an Idealx pooled fund merely by selecting a strategy; assets and results are attributed individually.

5. Appointment and dealing authority #

The Client authorises Trend and Platform within its appointed role to implement transactions, settlement instructions, currency conversions, corporate actions and incidental administration reasonably required by the accepted mandate. Separate confirmation of each trade is not required within those limits.

The authority permits dealing with approved brokers and custodians, appointing permitted service agents and selecting order methods, subject to the disclosed holding arrangements. It is not a general power to bind the Client outside the service, change beneficial ownership for Idealx’s benefit, guarantee another person’s debt, or grant unauthorised collateral rights.

Investment decisions must serve the Client’s interests. No authority is granted to borrow client property for Idealx’s own business or retain portfolio investment returns except for expressly disclosed lawful fees or an independently valid cash-interest arrangement.

Within the Investment Program, the manager may consider and exercise voting, election and corporate-action rights for the Client and must perform the duties the mandate assigns. For a right outside that authority, the provider passes on the relevant communications promptly and takes reasonable steps to implement valid Client instructions. Custody cut-offs and legal restrictions remain applicable.

6. Limits and special products #

Only approved instruments and exposures within the Client’s Investment Program may be used. Borrowing, short selling, non-limited-recourse products, digital-asset lending, staking and other enhanced-risk activities are disabled unless specifically approved, assessed, documented and accepted with any separate consent required. A broad asset-class list is not permission for an unlimited position.

If a service or asset is outside the actual licence, CAR, custody or execution permissions, it is unavailable even if mentioned as a future capability. Restrictions in the Investment Program are monitored; inadvertent breaches trigger risk control, documentation and remediation, not retrospective permission.

For a retail MDA relying on the applicable ASIC relief, investments excluded by that relief remain excluded, including interests in unregistered managed investment schemes unless a specific lawful basis permits them. A Client checkbox cannot override this restriction. Private-fund access outside the MDA does not place those fund interests inside the managed mandate.

Before any non-limited-recourse product is used, the Client receives its separate written risk statement and gives the required separate written consent acknowledging it. The statement explains the product, significant risks, leverage or unlimited liability, a dollar illustration of potential loss, and margin-call and loss-closing policies. No short label replaces that statement. Consent reuse and review follow the applicable law and Investment Program.

7. Custody, cash and ownership #

The issued custody particulars identify the legal holder, custodian and any direct custodian agreement, account structure, client entitlement, reconciliation arrangements and material insolvency risks. Client assets are held legally or beneficially for the Client. Providers may use permitted omnibus custody with individual entitlement records; this does not permit pooling client investments into an undisclosed common investment scheme.

Holding arrangements must separate client property from company operating property as required. Provider choice is flexible within approved arrangements; any change requiring consent or new disclosures must follow that process. MDA acceptance alone neither makes Idealx a bank nor authorises arbitrary cash placement.

Unless a separate lawful and appropriately disclosed cash-interest allocation applies, income attributable to the portfolio is credited to the Client. Any interest retained by Platform or a provider must be identified in the cost disclosures and conflict assessment. Foregone interest is not counted as a return earned by the Client for performance-fee purposes.

Optional asset-use agreements 27 and 28 do not automatically apply to managed assets. There is no automatic pledge of other strategies, other client accounts or unallocated assets for a managed allocation’s liabilities.

8. Execution and valuation #

Screen prices, indicative quantities and model allocations are estimates. Market orders may execute at different prices, in parts or at different times; liquidity, spreads, foreign exchange and settlement affect outcomes. Execution follows the mandate, broker terms and applicable duties. A market-order default does not prevent using limit orders or other methods when appropriate.

Values are determined under the supplied valuation policy using consistent market sources, currency translation, liabilities and accrued costs. Illiquid or stale prices are identified. Material valuation errors and fee errors are investigated and corrected; unverified values are not used to crystallise a performance fee.

9. Client controls and instructions #

Clients retain access to information, security settings, complaints, relevant circumstance updates, withdrawal requests and termination. Within a managed account or allocation, direct investment instructions from the Client, Console delegates, APIs and Atlas AI cannot bypass the approved management process.

A request to restrict investments or withdraw is routed to the provider. If inconsistent with the mandate, the provider must resolve it through an agreed amendment or exit rather than silently ignore it. Contributions remain attributed to the Client; their acceptance and investment follow the applicable mandate.

10. Fees and conflicts #

Auto Pilot uses Idealx Auto Pilot Fee Schedule. Each Managed Strategy uses its own completed fee schedule. Applicable advisers’ charges require their own valid authority. No undisclosed fee or unaccepted fee increase may be imposed. Required renewal consents must remain current.

Platform receives the fees disclosed for its service. Related-party investments and transactions, retained cash earnings, referral benefits, turnover incentives and overlapping charges are managed and disclosed where required. A disclosure does not authorise prohibited remuneration or displace client-interest duties.

An allocation into an underlying Idealx strategy within Auto Pilot will receive waivers or credits preventing a second Idealx management or performance fee on the same assets. Third-party embedded costs remain separately disclosed.

11. Reports and ongoing review #

The MDA Provider gives the Client substantially continuous electronic access to transaction history, holdings and valuations, portfolio liabilities, revenue, expenses and fees, with the information date and required quarterly comparisons. The accessible history covers at least two years or the shorter period since joining. The provider also supplies the required annual transaction summary, audit information and advice or suitability-review statements for each year ending 30 June within three months after year-end. Any lawful alternative or transitional reporting arrangement must be identified to the Client before it applies. Actual results are distinguished from model or hypothetical performance.

The MDA Provider arranges review of the Investment Program and continuing suitability at least every 13 months and sooner where relevant circumstances require it. Required personal advice and records accompany that review. If suitability or authority cannot be established, the provider restricts the service and implements an appropriate exit process.

12. Withdrawals and termination #

The Client or MDA Provider may terminate this MDA contract by giving written notice of no more than two Business Days. The Client may submit notice through the authenticated Stop management control or the notified support channel. The notice or confirmation identifies its effective time; that time must be no later than two Business Days after receipt unless the Client expressly requests a later date. Ending the MDA contract and completing settlement or transfer are distinct events. A request to withdraw cash specifies the amount and currency and does not automatically require liquidation of all holdings.

After a termination request, no new discretionary investment positions may be opened except authorised protective actions before termination takes effect. After termination, investment discretion ceases. The provider performs only the existing binding obligations and the exit instructions authorised under this agreement. It cancels cancellable orders, completes settlement and, according to the Client’s lawful election, transfers deliverable assets in specie or disposes of the identified assets and returns net proceeds. Sales needed to discharge an existing liability must have an existing lawful authority; termination alone does not grant one. Transfer or payment is arranged promptly as each asset becomes deliverable and verified destination details are available.

An illiquid asset or market closure may delay completion; the provider must explain the reason and give updates. There is no blanket ten-banking-day right to delay all MDA exits. Rights required by law are preserved.

The MDA Provider may end the contract using the same maximum two-Business-Day notice period, including for loss of permission, unsuitability, material breach, missing necessary information or commercial discontinuance. It must apply appropriate transition and protective arrangements. An urgent legal or security restriction may take effect sooner where required or permitted. Platform cannot prolong the MDA notice period through its general account terms.

The provider maintains written exit procedures and supplies them free on request. The exit confirmation explains unsettled orders, transferable and restricted assets, authorised closing actions and expected completion. A legal restriction, settlement cycle or genuine illiquidity may delay delivery but does not preserve investment discretion after termination or justify management fees for assets no longer managed.

13. Changes and service continuity #

Holdings and implementation can change without fresh acceptance within the mandate. Material changes to mandate, risk limits, contracting provider or fees require applicable advance disclosure and consent before implementation. A generic future-products clause cannot expand the mandate.

Administrative and legally required changes may be made using the notice process permitted by law and the contract, with reasons and timing. A replacement licensee does not automatically acquire discretionary authority from this agreement. Preserve client choice and lawful transition rights.

14. Technology and Atlas AI #

Atlas AI, Agent X and AtlasX may assist authorised workflows but cannot override investment limits, signer capacity, trading locks, withdrawal rights or required consents. Model outputs and displayed information may be inaccurate or incomplete. Human and system controls apply according to the approved operating model.

Security incidents, outages or suspected fraud may require proportionate restrictions. Alternative support and complaint channels remain available. Neither the use of AI nor the Client’s electronic acceptance transfers all operational or regulatory responsibility to the Client.

15. Risk, responsibility and remedies #

The Client bears investment-market risk, including loss of capital, subject to rights arising from breach of duty or law. No investment performance, liquidity, tax result or capital guarantee is given.

Each party remains responsible for its conduct and obligations. Nothing excludes duties or remedies that cannot lawfully be excluded, including liability for fraud, wilful misconduct, negligence where exclusion is unlawful, or breach of applicable statutory obligations. Service outsourcing does not remove responsibilities imposed on the provider.

Reasonable properly disclosed external transaction or recovery costs may be payable where authorised; this is not an unlimited indemnity for the provider’s own wrongdoing. General platform limitations cannot override these protections.

For the MDA service, the MDA Provider undertakes to act honestly, exercise reasonable care and diligence, and prioritise the Client’s interests when its own interests conflict. It must not misuse service information for an improper benefit or to harm the Client. It follows the agreed strategy and its FSG service representations unless the Client agrees in writing to an applicable change. These undertakings prevail over an inconsistent general Platform limitation.

The MDA Provider compensates the Client for loss caused by a person it engages in connection with the MDA to the same extent as if it had acted itself, subject to the statutory exception for an independently contracted external MDA adviser or external MDA custodian and persons acting for them. That exception does not exclude liability otherwise imposed on the provider by law or its own conduct.

16. Privacy, notices and complaints #

Personal and account information may be shared with the named provider, adviser, approved custodians and execution providers to operate, supervise and review the service, in accordance with the supplied privacy disclosures and applicable law. Overseas handling and material providers must be disclosed where required.

Service notices and documents may be delivered electronically to the agreed address or account with appropriate notification and accessible copies. Marketing choices remain separate. Complaints may be made through Platform or directly to Trend; the issued FSG must contain verified internal resolution and external dispute resolution details.

17. Governing law and contract records #

Australian law applies, with Victorian law governing contractual matters subject to mandatory rights and competent courts. The Client retains any non-excludable rights in other applicable jurisdictions. The electronic acceptance record identifies each party, capacity, documents, mandates and authorities. Invalid provisions are severed only to the extent possible without defeating the contract or mandatory protections.

18. Service activation particulars #

Your activation confirmation identifies the MDA Provider, appointed manager, relevant representative appointment, legal account and signers, Investment Program, advice and disclosures, custodian, approved instruments and exposure limits, fees and deduction authority, valuation and execution rules, and withdrawal arrangements. It incorporates the documents supplied before your acceptance.

Management begins only when the required client and provider approvals are effective. A pending application, a general account checkbox or a future product description does not appoint the manager or expand its permissions.