What is a Third-Party Authority?

During your appointment you may be asked to sign a third-party authority (TPA) for your superannuation, insurance, or investment accounts. But what is a third-party authority? ​

TPA’s allow us to enquire on your superannuation, insurance, or investments accounts. This can include: 

• Calling the fund on your behalf for information on your account 

• Communicating with the fund through email or mail 

• Submitting forms to initiate changes  

• Initiating and actioning insurance claims  

• Obtaining documents and correspondence, such as statements  

 
Some TPA’s also allow us to: 

• View your account on an online portal  

 
Why do we need a TPA? 
We must verify your existing superannuation, insurance, and investment accounts prior to making any recommendations as part of our duty of reasonable care. This is an essential compliance measure that ensures your entire financial situation is considered prior to making any changes or recommendations.  

It also allows us to facilitate changes (with your approval) to your account, which is essential to the implementation and maintenance of your Statement of Advice.  
 
What are the limitations of a TPA? 
A TPA will not allow us to make changes without your written approval and consent. You can think of a TPA as an “authority to view” rather than an “authority to change”.  
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Every action, from changing an email to switching investment options, needs to have written consent to occur.  
 
Who is listed on the TPA?  
 
The default TPA that we use has all staff listed, as well as a provision for “any representative of Evergreen Financial Advisers”. This enables us to assist you more effectively by allowing:  

• Any member of our team to assist you with your requests 

• Your account to appear on applicable fund portals  

 
At Evergreen we do not outsource to third parties through external paraplanners or administration staff. All representatives are part of our team and located at our Hermit Park office. Even then, we appreciate that you may feel more comfortable only granting a select few staff access to your account. We can discuss who is present on the authority and find a solution that you are comfortable with.  
 
How long do TPAs last?  
 
It’s different with every fund. Some authorities have no expiry date and are only removed if revoked. Others last between 10 and 20 years. A select few funds have expiry dates between one and three years.  
 
If you have any further questions about how TPAs function, please feel free to contact the office.  ​