Managing Your Engagement and Fees

Managing Your Engagement and Fees

Initial Engagement

Initial Engagement Proposal

Before engaging our services, you are provided with an Initial Engagement Proposal outlining the initial scope of work and proposed payment and fee arrangements.

We may seek your agreement regarding the amount to be invoiced and terms of payment.

If the scope of work includes superannuation and/or investment products, we may provide a guide to the upfront and ongoing fees which may be paid through the products. These may be considered when agreeing the amount to be invoiced.

If the proposal includes brokering risk insurance and/or finance, we may provide a guide to the upfront and ongoing commissions we may receive. Anticipated commissions to be received may significantly contribute towards funding the initial engagement work to be performed. These may be considered when agreeing the amount to be invoiced.

Statement of Advice Fee Disclosure

As part of your initial engagement work, if we provide financial advice, we will provide you with a Statement of Advice (SOA). Your SOA will include disclosure of all upfront & ongoing product fees (investment/superannuation) and all upfront & ongoing risk insurance commissions.

Your agreement to the disclosed fees and commissions in the SOA will be sought through an authority to proceed.

Ongoing product fees (investment/superannuation) and direct debit arrangements will be for a period of up to 12 months.

Loan Proposal Fee Disclosure

If we broker residential and/or commercial loans, before applying for the loan we will provide a loan proposal which will outline all upfront and ongoing fees and commissions that we may receive.

Ongoing Engagement

At the completion of the Initial Engagement and/or implementation of the recommendations you will be provided a Fixed Term Fixed Fee – Client Service Agreement (CSA) which contains the scope of service to be provided over the term of up to 12 months, the cost of the service and a payment plan.

To facilitate a reasonable basis for the setting of fees, all professional time incurred in relation to your file is accurately recorded, costed, and tracked using our industry-leading proprietary software, HPlan.

Fees will be set after careful consideration of:

  • the value of advice to be provided and anticipated financial benefits and outcomes,
  • the extent and complexity of your financial circumstances,
  • the accessibility of information and reporting on your financial circumstances
  • the complexity of issues to be resolved
  • the current information and analysis already on file
  • our relationship and the nature of agreements being replaced
  • the increased certainty to be provided
  • a fair contribution towards the fixed overheads and compliance costs of the business and the limited resources of the business
  • the education, experience and skill of your adviser and their support staff
  • the human resources required to complete the anticipated tasks and deliver the services
  • the significant investment into proprietary software and technology
  • your representations about your financial position and performance;
  • the timeliness, accuracy and reliability of information provided by you or collected on your behalf about your financial position, performance or projected financial performance; and
  • the actions taken and services provided by other stakeholders including product providers, third party service providers & professionals and related parties.

At the completion of the term, you will be provided a replacement Fixed Term Fixed Fee – Client Service Agreement (CSA) which contains the scope of service to be provided over the following term of up to 12 months.

If you do not agree to a replacement engagement, all direct debit and superannuation/investment product fee payment arrangements will end.

To view Our Transparent Fee Structure – Click Here.