FEE FOR SERVICE

Fee-for-service means your financial adviser charges a fee based upon the time he or she spends with you working on your financial plan. The overall fee depends on the time taken and complexity of the plan.

Fee-for-service charges come in several shapes and sizes including;

  • Hourly rates, which range from $120 to $400 an hour.
  • Flat fee rates might be charged for a financial plan ($1000 - $4000). For example, an adviser might work with you to develop an introductory financial plan for a flat fee of $1000. Then they might meet with you twice a year to review the plan for another flat fee of $750 per consultation and review.
  • Premium service fees may also be levied. Generally speaking expect to pay 1% of your investment portfolio for premium service fees.

The initial meeting with a fee-for-service adviser will be 'free-of-charge' but you will be charged whether or not you act on the planner's financial recommendations detailed in the financial plan.

Commissions
Premium service fees
Video
Introduction to Managed Accounts
Click here to download the presentation. Watch video
Code monitoring move disappoints industry
14 October 2019, 12:05pm
Treasurer Josh Frydenberg and Assistant Minister Jane Hume announced the government will accelerate its implementation of the Royal Commission's recommendation to establish a single disciplinary body ... Read more
Link to something 6veS3PqD