Wholesale Clients

Wholesale clients are able to access a greater range of benefits, interest rates, bonds and term deposit products than those available to retail clients.

Essentially, everyone is a retail client unless they satisfy one of the requirements to be classified as a wholesale client under section 708, 761G or 761GA of the Corporations Act 2001 (Cth):

  • 761G(7)(a) – The investment equals or exceeds $500,000.
  • 708 (c) / 761G(7)(c) – The investor has a certificate from a qualified accountant that the investor has $250,000 gross income p.a. for each of the last 2 financial years or $2.5M in net assets.
  • 708(8)(d) – The investor is a company or trust controlled by a person that has a certificate from a qualified accountant that the investor has $250,000 gross income p.a. for each of the last 2 financial years or $2.5M in net assets.
  • 708(10) / 761GA – The investor has a statement from an AFSL holder that the investor has sufficient experience to be classified as a sophisticated investor.
  • 708(11) / 761G(7)(d) – The investor is an AFSL, controls assets of at least $10 million, or is a listed entity.

Qualified accountant certificates expire after two years.