Wherever possible, we prefer to charge an agreed fee via a fee-for-service arrangement.
Our fees can be paid by cheque, bank transfer or directly from your investment, pension or superannuation account.
In general, investment advice usually includes three sets of fees which we outline below; our Ongoing FinAdvisory Service fee is optional and only payable should you elect to engage our continuing services.
No costs shall be charged until you clearly understand the fees and are happy to move forward.
Investment product fee
This is the fee charged by the investment(s) you choose to use. This is usually a modest expense.
Should we continue to use your existing superannuation account, this is the fee you are already paying.
If we recommend a new investment, superannuation or pension account, this is the fee they charge for providing their services.
This is not an additional fee charged by us. We make no income from this fee – it is charged directly to you by the product provider.
Plan Preparation and Implimentation Fee
This fee covers the cost of us meeting to discussing your goals and ideas, discussing your adviser’s ideas and options and agreeing to move forward.
It may also cover the costs involved in investigating existing and prospective investments, clarifying your strategy, projecting expected outcomes, preparing, documenting then presenting your personal financial plan.
Once you are happy with the recommendation, this fee also covers the cost of implementing your strategy then forwarding you copies of all documents signed, along with your confirmation details.
This fee may be based on the level of complexity involved, and/or be a percentage of the funds under recommendation. Ordinarily, the percentage charged reduces as the wealth under advice increases. Under most circumstances, this fee is charged from the funds being invested, however the option to pay upon invoice is available.
If your financial plan includes regular contributions to your portfolio, this fee is usually charged on each top-up, to cover the costs of administering and monitoring the regular transactions on your behalf.
This fee is usually only ever charged once on each amount under advice. In the unlikely event where your circumstances change, and your entire personal financial planning circumstances change and a whole new financial plan be required, this fee may be charged again, however this will be discussed at the time and only payable if you are in complete agreement
Personal Life Insurance Advice Charges
Under most circumstances, the only fee charged for advice on Life Insurance, Total & Permanent Disability (TPD) Insurance, Trauma Insurance and/or Income Protection Insurance, is the cost of the insurance premiums.
In these circumstances, the cost of your advice is covered by the commission paid to us by the insurance provider – this is not an extra cost to you and in most instances is the most cost-effective way for you to pay for our services.
Notwithstanding, should you prefer to pay for personal insurance advice via a fee-for-service agreement, we will be happy to come to a mutually suitable arrangement.
Ongoing FinAdvisory Service Fee
This is a voluntary fee covering the costs of your Ongoing FinAdvisory Service. This fee is usually paid via an adviser services fee from your portfolio and/or via regular monthly bank transfers from your bank account to ours.
This charge can be cancelled by you at any time, however most clients retain this service, as they see the value and the ongoing benefits it provides.
All advice is provided in writing, and shall include full disclosure of the costs, fees charged by all parties involved and how much each party may receive.