Overview

Professional Third Party overview 

This guide is for all account holders.  

Professional Third Party accounts allows professionals, like accountants, to better service their Netwealth clients. With access, Professional Third Parties can view Netwealth client accounts online, run detailed portfolio and transaction reports, and download client statements. 

In this module we will cover:

• As a professional: How to open a Netwealth Professional Third Party account

• As a Netwealth investor: How to grant Professional Third Party access to Netwealth account(s)

• As a Netwealth investor: How to provide an adviser with authority to delegate Professional Third Party access

• As a Netwealth adviser: How to organise Professional Third Party access to Netwealth account(s)

Open an account 

Opening a Professional Third Party account

How to open an account as a Professional Third Party, including the process of setting security passwords and ABN validations. 

Step 1: Navigate to 'Open account'

As a professional, start the online application by navigating to www.netwealth.com.au, select 'Open Account' located on the top right hand side of the menu bar and choose the option of opening an account 'As a Professional Third Party'. 

Step 2: Create a username and password

Complete the account opening questions, providing contact details and a valid ABN. The email address provided becomes your username to access Netwealth's online portal. After setting the password, read the Terms & Conditions and select 'Start." 

Step 3: Validate your email address and finalise the application

A security code will be sent to the email address just entered to validate your email.  Enter this validation code into the online registration form and select 'Register' to finalise the application. 

Step 4 - Login to your new account 

The confirmation page contains a link to login to your newly created account.  On initial login and for security purposes, respond to three security questions that can be used for password resetting in the future. 

Investor authority 

Granting Professional Third Party Access to Netwealth account(s)

Netwealth investors can provide Professional Third Party access to others so they can view their account information online. Third Parties can only view information and cannot make changes or transact on these account(s).

Step 1 - Login to 'Professional Third Party Access'

As an investor, login to your Netwealth account, and in the menu bar select  'Client Details' > 'Account Settings' and select the 'Professional Third Party Access' tab.

Step 2 - Select your ' Professional Third Party'

Using the search box, type in the name of the Professional Third Party whom to provide access to your Netwealth account(s).  If the desired third party does not appear in the search results then they may need to open a Netwealth Professional Third Party account (refer above steps). 

Step 3 - Select your Netwealth account(s) 

Select the account(s) you wish to grant Professional Third Party Access, add an expiry date for access (optional), then select 'Next'. 

Step 4 - Confirm your request

To confirm your request, review the summary, accept the user acknowledgement and then select 'Confirm'.  A notification will be sent either via text message where Netwealth has your mobile number listed or via email.

Step 1 - Navigate to the Account Settings

Login to your Netwealth account and then navigate using the main menu to My details > Account settings and  select the 'Authorised adviser' tab on the account settings page. 

Step 2 - Requesting authority to manage Professional Third Party settings

Select 'Yes' to the question 'Do you wish to authorise your adviser to manage all professional third party settings?, read the important notes and then select 'Confirm.'  

Adviser authority 

Organising Professional Third Party access to Netwealth account(s)

Advisers with a Netwealth account can initiate the granting of Professional Third Party Access to their clients' accounts. 

Client approval is still be required, of which there are two approval options:

1. Pre-approval - Clients provide a one-off approval for their adviser to delegate all Third party Access requests on their behalf (more information).  
2. Individual approval- Clients approve each Third Party Access request initiated by the Adviser in the below steps.

Step 1 - Login to your 'Professional Third Party Access'

Login to your Netwealth account, and in the menu bar select Business Settings > Professional Third Party Access.

Step 2 - Select Professional Third Party

Using the search box, type in the name of the Professional Third Party whom to provide access to Netwealth account(s). If the desired third party does not appear in the search results then they may need to open a Netwealth Professional Third Party account (refer above steps).

Step 3 - Select Netwealth account(s)

Select one or more clients using the search bar. A list of clients accounts will appear. Select the account(s) you wish to grant Professional Third Party Access, add an expiry date for access (optional), then select 'Next'.

Step 4 - Confirm your request

To confirm your request, review the summary, accept the user acknowledgement and then select 'Confirm'.

If you have an authority to delegate Third party access (more information), then access is granted immediately and the client will receive a notification confirming this.

If you do not have an authority, your client will be sent an approval request via SMS or email (see  next step).

Step 5 - Client approval (if no pre-approval)

Once submitted, a notification will be sent to the client via SMS or email requesting they log into their Netwealth account and approve the request.

To approve, the client navigates using the main menu to Activities and Tasks > Open Activities and approves the outstanding task. Once approved, access is granted to the Professional Third Party.