Margin Loans Servicability on Margin Loans - wholesale customers

I note that CBA has 2 methods of applying for a margin loan. First, as a retail customer, in which a full servicability check is done. Or alternatively, you can apply as a wholesale cumstomer ($500k min facility). All that is required is an accountants letter. I think criteria from memory is $2.5m in net assets and/or >$250k in income per annum. Has anyone had experience applying as a wholesale customer. Assuming you meet criteria, appears a way of avoiding the extensive paperwork associated with a retail application, which can be cumbersome for those with complicated arrangements?

 

not sure on the extensive paperwork, i got a 250k limit and basically filled in a one pager with my name, address, income, desired limit and direct debit details.

 

What you're talking about falls under being a sophisticated investor - which generally relaxes the regulatory rules as you're seen to have a better understanding about what you're trying to achieve - so mum n' dad protections aren't necessary. In reality 99% of people will not qualify for the requirements and if you do, you'd likely service just fine under standard servicing policy.