For your security, we can only discuss or act on a Selfwealth account with the account holder, or with someone whose legal authority we have verified. This article explains how another person can be authorised, and what they can and can't do.
Please don't share your login. Your password and login codes are personal, and sharing them puts your account at risk. Use one of the options below instead.
Which option do I need?
| You want | Use |
|---|---|
| Someone to make decisions and give instructions for you, such as a family member helping a parent | Power of attorney |
| Your accountant or financial adviser to receive information about your account | Third-party authority |
| Your accountant or portfolio tracker to receive your contract notes | An additional email address for contract notes |
| Your SMSF administrator to receive trade and cash data | A Class or BGL data feed |
| To act for someone who has passed away | Our deceased estate process |
Power of attorney
A power of attorney (POA) is a legal document that lets another person, the attorney, manage your financial affairs. We can register a POA on an individual account. Company and corporate trustee accounts need a company power of attorney instead.
What we need
- A certified copy of the full power of attorney document
- Certified photo ID for the attorney
- The account holder's name and Selfwealth ID, if they already have an account
See What is a 'certified copy' of an original document? Email the documents to support@selfwealth.com.au. Our Compliance team reviews every power of attorney before it is added, and we'll confirm by email once it's in place.
What an attorney can do
- Authorise a transfer of shares
- Change the nominated bank account
- Update the address and other personal details
- Request statements and transaction history
- Have their email address added to receive contract notes
What an attorney can't do
We can't give an attorney their own login to trade online on the account. If shares need to be sold, contact us and we'll explain how this can be arranged. Sale proceeds are paid to the nominated bank account on the account.
Opening a new account under a power of attorney
If the person you act for doesn't have a Selfwealth account yet, for example you need to sell shares they hold with a share registry, send us the power of attorney documents before you apply. Once they're reviewed, we'll guide you through opening an individual account in that person's name. We'll also need to verify their identity and residential address.
A power of attorney ends when the account holder passes away. After that, the executor or administrator of the estate needs to contact us.
Third-party authority (information only)
A third-party authority lets us share information about your account with someone you nominate, usually your financial adviser or accountant. It doesn't allow them to trade, withdraw funds or change your details.
What we need
- A signed third-party authority form or letter naming the person or firm you're authorising. Most advisers and accountants have their own form.
- Certified photo ID for every account holder
Email these to support@selfwealth.com.au. Once the authority is recorded, your adviser or accountant can ask us for your holdings, cash balance and transaction history. We send documents to them password protected.
Other legal authority
If you hold another form of authority, such as a financial management, administration or guardianship order, contact us with a certified copy and we'll let you know what we need.
Common questions
Can my partner or family member call on my behalf? Only if they hold a registered power of attorney. Otherwise we need to speak with you.
Can I add someone to my individual account? No. An individual account has one owner. To hold shares together you would open a joint account.
Is the "Limited Power of Attorney" in my application the same thing? No. That authorises Selfwealth to move funds in your cash account to settle your trades and fees. It doesn't give anyone else access.