Our initial meeting is free. After, or at the first meeting, David Harrison will discuss the fees and charges that may be applicable to you. We receive a portion of commission from product providers due to varying legacy factors ie, product grandfathering, cost to change, or where the product is still in the best interest of the client and their current situation. Our professional view is Money Options Pty Ltd endeavours to disregard the varying commissions that are permitted to be paid by product providers in order to remove bias and maintain integrity in our product selection process. Money Options Pty Ltd does not rely on commission-type revenues and base our advice solely on what’s best for you.
Due to the varying nature of individual client cases, our fee for SOA plan preparation, implementation and our ongoing management service process will be disclosed on an individual basis in writing to you and may include the following:
Initial Advice Fees SoA Plan Preparation - This fee is based on a written investment proposal (Statement of Advice - SoA) in which the cost will be based on the time required to prepare and could range from $0 to $1,000 (GST exclusive) or as agreed. You will be advised of the cost prior to preparing the Statement of Advice (SoA). Most SOA’s are under $500.
Adviser remuneration The cost of providing a financial product or service to you will depend on the nature and complexity of the advice, financial product and/or service provided. Generally, whenever we provide a recommendation for a financial product or service, we may be remunerated through either an initial fee for service; or an ongoing fee for service; or commission payments (in some insurance cases) from product providers where applicable; or a combination of any of the above. Details of the ranges and amounts of remuneration are set out below. Amounts are inclusive of GST.
Type of Remuneration
Adviser Service Fee* Intitial: 0% to 1.0% Ongoing: 0% to 1.0%
SOA Preparation Fee Initial: $0 to $1,000 Ongoing: N/A
Contribution Fee* Initial: 0% Ongoing: 0%
Hourly Rate Initial: $200.00 Ongoing: $200.00
Insurance Commission^ Initial: 0% to 60% Ongoing: 0% to 25%
*based on a % of funds invested ^based on a % of the premium
Prior to preparing any advice or providing financial services to you, we will discuss and agree upon all fees that will apply. All fees or commissions are paid directly to Money Options Pty Ltd.
What commissions, fees and other benefits are paid to Money Options? Money Options Pty Ltd calculation of fees and commissions is dependent on the level of service appropriate to the needs of the client. It has many levels of service each providing benefits to the clients it is designed to serve.
Upfront fees are calculated as either a percentage of funds invested or a fixed dollar value and can be debited via the agreed investment platform or by a minimum invoice amount dependent on the level of service chosen.
Ongoing fees can either be a fixed amount or calculated as a percentage of funds under management, this percentage varies dependent on the level of service chosen or agreed with David Harrison. All levels of service, their associated calculations for fees and charges and the ongoing services provided are discussed in the initial meetings and subsequently disclosed, prior to implementation of any recommendations, in the SOA.
You have a right to request for further information in relation to the remuneration, the range of amounts or rates of remuneration, and soft dollar benefits received by us.
Money Options Pty Ltd and its representatives do not typically receive a benefit from product providers. In the event they do receive non-cash benefits with a cash value less than $300 the details of benefits between $100 and $300 will be maintained on a register. These benefits will normally be one off and will not be received from a product provider on a regular basis.