Changes To Aintree Group Client Identification & Verification Process From 1 July 2025

Recent legislative changes require all firms in the accounting, legal, wealth and advisory industries to follow stricter protocols for verifying client identities.

This means that your Aintree Group adviser may ask for proof of identity, even if you’ve been working together for years. These updates are about protecting your information and ensuring our compliance with the latest regulations.

What do you need to provide?

From 1 July 2025, Aintree Group is required to complete identity verification for all clients, both new and existing, before providing services.

You may notice the following changes to our onboarding and re-engagement processes.

We may request identification documents such as your:

• Driver’s licence.
• Passport.
• Medicare card.
• Utility bill (as proof of address).

Depending on the situation, we may need to:

• Sight original documents in person, or
• Request a digital ID verification via BGLiD.

If you’re a returning client, we may ask you to:

• Confirm your details, or
• Provide updated ID if your previous records are outdated or incomplete.

Being asked for identification by an accountant or adviser you’ve worked with for 15 years or more may feel a bit odd. However, this is now a legal requirement that applies to every client, every time a new engagement begins.

How will this impact you?

Our aim is to make this process clear, respectful and efficient, with minimal disruption to the high level of service you expect from us.

• We will offer flexible options to complete ID verification digitally via BGLiD, or during scheduled meetings if digital verification is not possible for you.
• BGLiD does not require any account set up on your end. You will simply be sent a request to provide your ID via a secure portal. Your adviser pre-arranges this to protect you from fraudulent requests. Please use the resources below if you’re unsure how the process works.
• The security of your personal information is at the heart of what we do. All ID checks and documentation will be handled in line with our strict privacy standards and procedures. BGLiD uses biometric verification to ensure the user matches the ID being provided.
• If you’re unsure why certain details are being requested, our team will explain and guide you through the process.

If you have a meeting booked in with your Aintree Group adviser, we recommend you bring copies of key ID documents with you, just in case!

How this ties in with Annual Service Agreement requirements:

In addition to updated identity verification requirements, recent changes to the Code of Professional Conduct for tax practitioners mean that the requirement to have a signed service agreement in place before commencing any client work is now being more strictly enforced across the industry.

As a result, we will now require all clients to sign a service agreement before we can begin work for the year ahead. This applies to all clients and all types of work. It is now a compliance priority for all tax practitioners, not just Aintree Group.

These service agreements, together with the updated ID verification protocols, form part of a broader effort to strengthen transparency, accountability and compliance in the professional services sector.

We understand this may feel like a significant change for some clients. However, it’s a necessary step to ensure compliance and protect both your interests and ours.

Why are these changes happening?

Since 2022, the Tax Practioners Board (TPB) has required registered tax practitioners to take reasonable steps to verify clients’ identities for both new and ongoing engagements. From 1 July 2025, these requirements will become more stringent, further supporting security and compliance across the industry.

These updates are part of a broader government initiative to strengthen protections against identity fraud and financial crime across the professional services sector.

They align with the latest requirements under:

• The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
• Tax Practitioners Board Practice Note TPB(PN) 5/2022.
• Updated guidance from the Australian Securities and Investments Commission (ASIC).

The main aims of these measures are to:

• Safeguard clients against identity theft and financial fraud;
• Ensure compliance with national regulations and industry best practices; and
• Foster transparency, trust and secure business processes.

Our Continued Commitment to You

We understand that these client identification changes may be new to some clients. So, we appreciate your understanding as we adapt to these new requirements.

Please be assured:

• Your privacy matters: All information gathered for ID purposes is stored securely and only used for compliance as required by law.
• Your experience matters: If you have feedback about the process of requesting your ID or signing Annual Service Agreements, please let your Aintree Group adviser know so we can take this on board for next time.
• We’re here to help: If you’re ever unsure, or would like more details about these requirements, just reach out to our team and we’ll be happy to assist.

Thank you for your cooperation and understanding as we implement these important updates to our client identification processes. By working together, we help ensure a safer and more compliant environment for all.

If you have any questions about these changes or need to update your details, please contact us.

This is general advice only and has not been prepared with your individual situation or needs in mind. For personalised advice, we highly recommend that you seek professional guidance from a qualified adviser.