How financial referral services work

A useful referral conversation focuses on your goal, the decision you are facing, timing and the kind of expertise that may be relevant. It should not require passwords, identity documents or full account details at the enquiry stage.

The referrer may then identify a third-party provider whose stated service category appears relevant. The provider should conduct its own enquiries and explain whether it can assist.

A referral does not transfer the provider's professional responsibilities to the referrer. Advice, credit assistance, tax work or another service should be delivered under the provider's own scope, authorisations, terms and complaints process.

Ask for the provider's details, documents and costs directly. Verify relevant credentials using official registers where applicable.

Before personal information is passed to another organisation, you should be told what is proposed and how the information will be used. Read the applicable privacy notice and ask if anything is unclear.

Also ask whether a fee, commission or other benefit may be paid in connection with the introduction. The specific AFC privacy and referral disclosures must be confirmed and approved before launch; no arrangement should be assumed from this article.

An introduction creates an opportunity for a conversation, not an obligation to engage. Consider the provider's expertise, communication, credentials, fees and conflicts before deciding.

AFC's intended role is to make the starting point clearer and facilitate relevant introductions. The final choice of provider and whether to accept a service remains yours.