Our Fees and Remuneration
Our services are provided on a Fee for Advice basis only which means we do not take commissions from financial institutions on investment products.
The Wealth Management Plan Fee
The wealth management plan fee covers the detailed work undertaken to research and analyse your current situation and determine what steps should be taken to help you achieve your stated goals. The fee entitles you to ownership of the strategy outlined within the wealth management plan and covers the cost of Strategic Wealth’s intellectual property, experience and expertise.
We have a reputation in the market place as a firm whose work is of the highest quality. The people we employ are highly qualified and are the best in our industry and our Plan fee covers the cost of our staff and the significant professional responsibility we incur for preparing and implementing the advice. As a guide, our plan fees range from $3,500 to $12,500 (inc. GST).
The specific fee will depend upon the complexity of the advice and the time taken, and will be agreed in writing with you in a Plan Proposal Letter prior to any agreement to proceed. The fee for the development of the plan will be fixed and will not change unless the scope of the work involved changes significantly. If you instruct us to proceed with implementing the plan, we may charge a separate implementation fee by agreement where your circumstances require. You will be advised of this before proceeding always ensuring full transparency, and tax efficiency. A good strategy poorly implemented can often undo the whole plan.
The Ongoing Relationship Management Fee
There are three elements to our fee structure for our Ongoing Relationship Management, namely:
The three elements can be described as follows:
This fee is paid on a monthly basis and enables us to maintain your financial lives in a state that will ensure that you are on the best path to maximise the probability of achieving your financial goals.
Your financial affairs will be in the best possible order which, in essence, means that we are constantly aware of your short and long term financial goals, your financial beliefs and fears along with your financial values and circumstances. We also review your cashflow, insurances, assets, purchases, structures, investments, loans, salary, share options and other areas in scope to ensure that they are ‘in order’ in terms of being appropriate for the attainment of your financial goals.
We also take responsibility for scanning the inevitable developments in new financial products, legislative changes, changing economic markets along with your ever changing circumstances to re-assess what the impact of these changes will be on the probability of you achieving your financial goals.
This service provides you with ‘peace of mind’, ‘confidence’, ‘reliability’ and other intangible qualities that are associated with quality advice.
Life isn’t predictable and abnormal or out-of-scope changes can occur. Hence the Service Fee is paid when additional work is required due to changing circumstances and without making relevant adjustments we can no longer assure you that you are on the best possible path to achieving your financial goals.
These fees may also be charged for specialised services that we offer to protect your financial position (e.g. Risk Management or Estate Planning) or that further simplify your lives (e.g. our Cashflow Management Service). The Relationship Management Fee and Service Fee will be presented as one fee derived from an assessment of your needs over the course of the coming year.
This fee is paid when we are engaged to project manage any period of high complexity in your lives. We may engage external professional advisers on your behalf and act in a co-ordinator role. For further information on this specialised service, please click on the following link Private Wealth Management Service.
