Certain documents like contracts, tax submissions, ASIC forms and statements of advice can be signed digitally via your wealth portal. Signing your document can be done using your computer or your mobile phone.
Digital document signing helps you to quickly and securely sign documents for your financial professional without the need for printing/signing/scanning and emailing back. You can be on holiday, at home, work or even out and about, and still be able to get forms authorised quickly and securely.
In Australia, digital signature law was established in 1999 with the Electronic Transactions Act. Legally, digital signatures are generally treated the same as handwritten signatures. Documents such as non-disclosure agreements, procurement documents, terms of sale documents, employment contracts, real estate documents or lease agreements can all be signed electronically.
Documents relating to migration or citizenship, bills of exchange, wills, powers of attorney, and real estate transactions still require a handwritten signature.
For your security, you can only electronically sign your documents once you have logged into your secure wealth portal.
The law around digital signatures has meant a great improvement to business processes and allows you to set up important information in your wealth portal quickly and efficiently.
When your adviser sends you a document to sign, you should receive one or both of the following:
- A “do not reply” email from myprosperity branded with your financial professional’s logo, or directly from your financial professional
- A push notification on your mobile phone informing you that there is a new document to sign in your portal.
You will then digitally sign the document with your mobile device or computer. Your financial professional then receives notification of signature completion and can view the signed document on the secure portal.
All this is done to ensure a quicker, more streamlined and secure process to get your documents signed and returned without delays.