6.4.4.10 MD extract - who can give advice & how to contact them
The Ministerial Directions set out who can provide legal and financial advice to workers. The relevant Directions are Direction 12 for financial advisers and Direction 13 for legal advisers. The Directions also give information about how to find an adviser. This information is reproduced below.
Categories of persons from whom financial advice may be received
A person providing financial advice must be a person who is:
- either:
- entitled to provide investment or financial product advice as the holder of a license under the Corporations Act 2001 of the Commonwealth or
- permitted under the Corporations Act 2001 of the Commonwealth to act as the representative of such a licensee and
- either:
- a Certified Financial Planner or
- a Certified Practising Accountant or
- a member of the Institute of Chartered Accountants in Australia or
- a member of the National Institute of Accountants.
Notes
For Direction 12, the Financial Planning Association of Australia issues the Certified Financial Planner designation and has information on those persons. The Association may be contacted on its website at www.fpa.asn.au or on 1800 626 393.
CPA Australia has information on persons who are certified practising accountants. CPA Australia may be contacted on its website at www.cpaaustralia.com.au or on (03) 9606 9606.
The Institute of Chartered Accountants in Australia has information on persons who are members of the Institute. The Institute may be contacted on its website at www.charteredaccountantsanz.com or on 1300 137 322.
The National Institute of Accountants has information on persons who are members of the Institute. The Institute may be contacted on its website at www.publicaccountants.org.au or on (03) 8665 3100.
Categories of persons from whom legal advice may be received
A person providing legal advice must be an Australian Legal Practitioner Legal practitioner means an Australian legal practitioner within the meaning of the Legal Profession Act 2004 within the meaning of the Legal Profession Application Act 2014.