Introducing Holdings: your trust, company, SMSF + personal finances in one app

On Friday we released a major upgrade to the Wealthra Planner plan. It’s called Holdings. You can now bring your family or other trusts, investment companies and self-managed super fund into Wealthra alongside your personal finances and see each one on its own or everything together.

This post describes features in the Wealthra app. Where it mentions trusts, companies or super, it explains how the app works, not what you should do.

We built Wealthra to manage your whole financial life in one place. For a lot of Australians, that means more than personal bank accounts and a mortgage. It can include a self-managed super fund, a family trust that holds shares, a company that owns an investment property, or a unit trust you’ve set up with family.

Once your money is spread across structures like these, one big total stops telling you as much. Money in your own name isn’t the same as money in your trust or your SMSF. Until now, most people have kept the personal side in one app and the rest in spreadsheets, broker logins and their accountant’s annual reports.

Holdings changes that. Business accounting has long tracked separate entities and separate profit centres within one set of books. To our knowledge, Wealthra is the first personal finance app to bring that idea to personal finance: one app, one login, with every structure you’re connected to kept distinct and still visible in one place.

One platform, three ways to see your money

Holdings adds a selector that changes what every page in Wealthra can show.

• All holdings: Everything you and your structures hold, combined into one consolidated picture.
• Personally held: Just the accounts and assets in your own name. Your personal finances, on their own.
• One structure: A single trust, company or SMSF, with only its accounts, assets, budgets and activity.

The selector works across the dashboard, Accounts, Bank Connections, Assets, Budgets, Planning, Cash Flow and Reports. Transactions has its own Held by filter, so you can dig into the activity behind any number. The view you pick is saved in the page address, so you can bookmark your SMSF dashboard and go straight back to it.

Each view uses the right name for its total

A consolidated total isn’t the same as personal wealth. Assets in your SMSF or family trust aren’t simply yours to spend. So Wealthra labels each total for what it is:

Set up your structures once

Holdings starts with the Financial Structures register. Add each structure you’re connected to:

• Discretionary (family) trusts
• Unit trusts
• Companies
• Self-managed super funds (SMSFs)

For each one, record a name, its ABN, an ACN for companies, the date it was set up and any notes. Mark it as Active, Needs review or Archived. Archived structures can be restored at any time.

Once the structure is created, you then assign the holding structure to relevant bank accounts, assets & liabilities. From this point your Wealthra platform can record and report on each structure or your overall position.

Record who does what

Structures come with people and roles. Wealthra lets you record your own roles without creating a separate profile for yourself, and add other people, or another structure, where it helps. A common example is a company acting as corporate trustee of a family trust.

Supported roles are trustee, beneficiary, appointor, director, shareholder, unitholder and member. Each relationship can have start and end dates and notes. For shareholders and unitholders, you can also note a percentage and a description of the shares or units it represents.

Switch to the relationship map to see how all your people and structures connect.

Tell Wealthra who holds each account

Every balance-sheet account now has a Held by field. Set it to personally held, or to one of your structures. Assets linked to an account take on the same holder automatically, so an account and the asset it funds always line up.

That’s how Wealthra tells a share portfolio in your own name apart from one held by your trust or your SMSF, all inside the one login.

History stays accurate

Holder assignments are dated. Change who holds an account and the change applies from today by default, so your past figures don’t move. If you’re correcting a mistake, choose Apply to all history instead.

Behind the scenes, each transaction belongs to whoever held the paying account on the day it happened, and your historical net worth uses the holder that applied on each date. Changing a holder is more than relabelling today’s balance.

Budget, plan and forecast for each structure

Budgets, project budgets and financial goals can each be assigned to a holder. You can use the same budget category for different holders, so “Property maintenance” for your own home and for the company’s investment property stay separate. Accounts linked to a budget or goal must have the same holder, which keeps personal targets and entity spending from mixing.

Forecasts for a single holder only include that holder’s balances, assets, budgets and debts. Scheduled transfers between holders count as money in or out, depending on which view you’re in.

Reports work the same way. Printed statements show the holder in the header, and CSV exports from Assets and Transaction Review note the view they came from. When you send figures to your accountant, it’s clear which entity they belong to.

Money moving between structures, made clear

Money often moves between you and your structures: a contribution to your SMSF, a distribution from the family trust, or a loan to the company. Reconcile Transfers finds likely matching pairs of transactions over a date range you choose. You confirm each pair, and can tag it with a purpose:

• Contribution
• Distribution
• Loan
• Repayment
• Reimbursement

Linked transactions take you straight to the other side of the movement. Pairs can be unlinked, and if one side is changed or deleted, Wealthra flags the pair for review.

Private by default, shared when you choose

• Your structures are private. Only you see them unless you decide otherwise.
• Household sharing is optional. Turn it on and your household member gets read-only access to your structures, people and relationships.
• Roles don’t grant access. Adding someone as a trustee, director or beneficiary in Wealthra doesn’t give them access to the app.
• Sharing and viewing are separate. Who can see your structures and which holder you’re looking at are two different controls.

Read more about how Wealthra protects your data.

What Holdings is, and what it isn’t

Holdings is for organising your finances by who holds them, seeing each part clearly, and planning with the right context. It isn’t entity accounting or compliance software, and it doesn’t replace your accountant or SMSF administrator.

In particular, Holdings doesn’t:

• calculate trust distributions or beneficiary entitlements
• calculate SMSF member balances
• work out tax for any structure
• track amounts owed between entities (loans receivable and payable)
• allocate wealth or confirm entitlements based on the ownership percentages you record. Those are for your reference.
• check ABNs and ACNs against the official registers. Wealthra checks the number is in a valid format only.

Get started

1. Open Financial Structures in Wealthra and add your trusts, companies and SMSF.
2. Add your roles and anyone else connected to each structure.
3. Set the Held by field on each relevant account or set up new accounts for each holding.
4. Use the Holdings selector to see the picture you need.