What we need to authorise adviser trades

As an adviser, you can perform a number of transactions through Adviser Online. However, your client won’t need to sign something before each one. To do this, your clients will need to provide you with written confirmation ahead of time indicating they understand the process. 

Before authorising any trade, you’ll need to confirm that you have obtained written confirmation from your client that they understand the above implications.  

A trade can only be processed once an authorised adviser confirms their identity and the client’s confirmation of understanding. 

Once that documentation is in place, your client won’t need to sign something ahead of each trade. 

What does 'awaiting authorisation' mean?

Depending on your level of client authorisation, you may see trades that are ‘awaiting authorisation’. This means that the trade has been requested and is pending authorisation by an authorised adviser.

Some advisers or support staff have no or limited ability to trade on clients’ accounts. These are generally:

  • Enquiry Only
  • Limited Transact

How to authorise transactions

In order to trade on clients’ accounts, an adviser with Full Transact access with need to authorise the trade. They can do this by providing their Access Code and password.

  1. Log in to Adviser Online
  2. Click Transacting on the Adviser Online menu beneath the Adviser Online icon and select Work in progress
  3. Select View orders
  4. Search for the trade by either:
    • Searching the account by name or number in the search bar
    • Searching by Adviser, Product, Order Source, or trade Status dropdown menus
  5. Select the order ID
  6. Confirm the order details and the client declaration is correct. If they aren’t you can amend them by selecting Edit Orders
    • When purchasing a new managed investment or Separately Managed Account (SMA) for a retail client, you'll be required to answer questions relating to design and distribution obligations, asking you to confirm whether personal advice has been provided before recommending that the account holder(s) proceed with the new transaction
    • If personal advice hasn't been provided, you’ll be required to confirm that the distribution conduct is consistent with the product’s Target Market Determination(s) (TMDs)
  7. Enter your Access Code and password then select Authorise Orders.

Once you have authorised the order the status of the order in the Work in progress – orders page should update. 

Please note that mobile, email address and occupation are all compulsory fields to complete before proceeding.  

Where personal advice hasn't been provided and the distribution conduct isn't within the TMD, the transaction won't be able to proceed on a retail account.

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