We will only consider and accept clients as wholesale clients who have met the following criteria:

1. The Wealth Test

You are considered a wholesale investor if:

• you have net assets greater than AUD 2.5 million, or
• you have a gross income of at least AUD 250,000 per annum for each of the past two financial years.

If you meet either of the above two criteria, you must:

• have a qualified accountant certify in a letter that you satisfy either of those criteria;
• the certification must be no more than 6 months old at the time the offer of financial products is made; and
• this letter will be required to be updated every two years to stay current.

When calculating your net assets, remember to include the following:

• Your home and other properties
• Superannuation, shares, managed funds, bonds, savings
• Vehicles, boats, collectibles or any other assets you own

When calculating your gross income, remember to include the following:

• Salary
• Dividends and interest earned
• Rent received

To obtain a copy of the sample certificate, please visit the related page on ASIC website (https://asic.gov.au/regulatory-resources/financial-services/financial-product-disclosure/certificates-issued-by-a-qualified-accountant/)

2. The Professional Investor Test

You are considered a wholesale investor if you meet one or more of the following:

• you are a Financial Services Licensee;
• you are a body regulated by APRA, other than a trustee of any of the following (within the meeting of the Superannuation Industry (Supervision) Act 1993):
  • a superannuation fund;
  • an approved deposit fund;
  • a pooled superannuation trust;
  • a public sector superannuation scheme.

• you are a body registered under the Financial Corporations Act 1974;
• you are a trustee of:
  • a superannuation fund;
  • an approved deposit fund;
  • a pooled superannuation trust;
  • a public sector superannuation scheme; within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million.

• you control at least $10 million (including any amount held by an associate or under a trust that the person manages);
• you are a listed entity, or a related body corporate of a listed entity;
• you are an exempt public authority;
• you are a body corporate, or an unincorporated body, that
  • carries on a business of investment in financial products, interests in land or other investments; and
  • for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82, the terms of which provided for the funds subscribed to be invested for those purposes.

• you operate a foreign entity that if established or incorporated in Australia, would be covered by one of the paragraphs above.

3. The Size of Business Test

The financial product or service is provided for use in connection with a business that is not a small business. For a business to be considered as NOT a small business, the business must have:

• 20 or more employees; or
• if the business is or includes the manufacture of goods, then 100 or more employees.

If you believe you are eligible for being classified as wholesale client, please contact us at [email protected] and send through all the relevant documents and forms

Please note that if you are eligible for any of the above tests, the following restrictions will not be applicable to you:

• Lower compulsory margin close-out at 50%
• Retail negative balance protection
• Retail disclosure documents (Financial Services Guide, Product Disclosure Statement or any other retail disclosure documents).
• You will not be entitled to retail clients’ protections under the Corporations Act 2001 (Cth).
• You will also forfeit the right to complain to the Australian Financial Complaints Authority

If you think you are qualified to be a wholesale or sophisticated client, please email our customer services team and our friendly staff will contact you. Email address: [email protected].