Who We Don't Help
Fees & Pricing
Fees can be broken down into the following types:
First Meeting
$195
Before scheduling your first meeting we discuss with you, your personal situation, your questions and concerns. If we feel you’ll benefit from a meeting, we’ll then schedule a meeting. The cost for the first meeting is $195 and covers our time, allowing us to fully focus on answering your questions and concerns. If at the end of the first meeting any further work needs to be undertaken, we’ll provide you with a quote.
Financial Plan Fee (Statement of Advice)
Typically $1,650-$3,300 depending upon complexity
Whenever we provide you with personal financial advice, you will receive a written Statement of Advice. In preparing the Statement of Advice we assess your situation, analyse possible strategies and options to make best use of your money, research potential investments and make financial projections. As part of this process another meeting is then made to go over the Statement of Advice with you.
The cost of a Statement of Advice is usually a one-off, at the commencement of our relationship (unless your circumstances change materially). Thereafter, any further advice provided will be covered as part of our ongoing advice retainer (see below).
Ongoing Advice Fees
Annual Retainer
If we decide to embark on an ongoing relationship and work together, there will be ongoing advice fees. This will only occur if we feel we can add value to your situation. The exact amount charged will depend upon your situation and our scope of work. This fee will be clear, easy to understand, agreed upon upfront and can be cancelled at any time. Ongoing advice fees start from $165 per month. Most clients typically pay between $220 -$385 per month and fees can be deducted from investment balances.
To some clients, financial planning fees can sound like a lot of money initially, until they start to see the value we provide. It is also worth remembering that we do not receive any commissions and part of our job is to minimise investment product fees elsewhere. Given we’re working for you and not product providers, we’re often able to save our clients thousands of dollars a year in product fees they were unaware they were paying.
Our advice fees are almost always flat dollar amounts. We stand behind our advice and don’t need to hide behind percentages or convoluted fee structures. Just because someone has worked hard throughout their life and accumulated a lot of assets does not mean we should be paid more – a portfolio worth $2million does not entail twice as much work as a portfolio of $1million. So recognising this, our fees are based upon a combination of the work involved and value we provide. We’re completely transparent about this. We only take on clients where both parties have a mutual respect for one another, where it’s agreed the client will benefit from an ongoing professional advice relationship and where we feel we can truly add value.