Understanding third party authority for financial service professionals

A financial services professional (FSP) is an adviser that has registered with Macquarie to use and distribute certain Macquarie products but works for a Financial Services Company (FSC). The FSP is a representative or authorised representative of an FSC.

A Financial Services Company (FSC) is a financial group or dealer to which individuals belong. This includes financial advisory firms, stockbrokers, accounting firms or SMSF Administrators that have access to view and/or transact on client's account/s.

Your client can revoke access to third party authorities through Macquarie Online Banking or in the Macquarie Mobile Banking app. See How do I remove a third party authority from my account? in our Help Centre.

For urgent requests, including who has authority on your client’s account, your client can contact us via Q.

An FSP can have view access to their client's account details (BSB, account number and account name), account balance and transaction history.

If you opened a Macquarie Cash Management Account (CMA) or Wrap IDPS account for your client, then the FSP and any support staff with access to your adviser code would also be able to:

• create transactions for clients to authorise using Adviser Initiated Payments
• initiate a Macquarie Cash Management Accelerator (Accelerator) short-form online application via Adviser Online portal.

To have these authorities, the FSP and support staff must be registered with Macquarie. For further information on how to register, see Accessing or navigating in Adviser Online.

Please refer to our terms and conditions for further information on authorisations.

To gain third party access to your client's account, the FSC must be registered with Macquarie. For further information on how to register, see Registering your dealer group, adviser or support staff with Macquarie.

The levels of authority available depend on what type of third party your client appoints. Please refer to our terms and conditions for further information and authorisations.

• View Authority*
• General Withdrawal Authority **
• Tax Payment Authority
• Financial Services Debit Authority
• Accelerator Account Transfer Authority
• Term Deposit Authority

These authorities allow FSPs with the appropriate level of authority within the appointed FSC to have view and/or transact authority. To obtain general withdrawal, tax payment and/or financial services debit authority on your client’s account, your FSC must be registered for bulk transacting.  

* View Authority appointed on a Macquarie CMA or Vision Cash Account will automatically be replicated on the linked Accelerator account or Vision Savings Account.

** General Withdrawal Authority is only available to select firms that meet specific eligibility criteria.

For more information on how to complete the CMA Third Party Authority forms, please read Guide to completing CMA Third Party Authority forms in our Personal Help Centre.

Your client can add or replace an adviser or other financial services professional or company through Macquarie Online Banking or Macquarie Mobile Banking app. See What do I need to complete to grant or remove third party authority for my accounts? in our Help Centre.

Macquarie Online Banking

1. In the side menu, select the settings icon in the bottom left-hand corner
2. Select Connected people & platforms
3. Select Add connection
4. Select Add a financial services professional
5. Read and complete all required fields
6. Select Submit request
7. To help streamline the process, please provide your client with your dealer and adviser code to avoid delays.

Macquarie Mobile Banking App:

1. Select the menu icon
2. Select View profile
3. Select Connected people & platforms
4. Select Add connection
5. Select A financial services professional
6. Read and complete all required fields
7. Select Submit request
8. To help streamline the process, please provide your client with your dealer and adviser code to avoid delays.

A Professional Third Party can be provided with information and certain reports via secure data feeds or on-request reporting. A professional third party is a financial services company or professional, such as an accountant, who a client can authorise to receive information and reports. Access for a Professional Third Party is provided via secure data feeds or on-request reports and does not include access to Digital Banking.

As an FSP you are able to use your ESI credentials to access account, balance and transaction data from integrated Third Party platforms. For more information on how to set-up your access and use these data feeds please see Connecting to third-party platforms with ESI data feeds.

This section outlines the different authority process for the investment component of a Wrap IDPS account, and for Wrap Super and Pension accounts.