Paying for advice and services
Financial Services Partners is committed to transparency in our pricing of advice and services to our clients.
This means that:
- We promise to explain our fees in an easy to understand manner.
- We promise to provide you with complete pricing, with no extra or hidden fees.
- We promise to provide you with an understanding of fees for service prior to any fee being charged.
- We promise to ensure that you will 'direct' the fee, that is, you approve any fee before we charge it.
- Should we change our advice and service pricing at any time, we promise to be upfront with you and provide an appropriate explanation as to why the fee change is occurring.
Our commitment ensures you understand what you are paying for. It's our way of providing you with the confidence you need to understand and implement the financial advice provided by your adviser to help you create a brighter future.®
When will fees be charged?
Fees are charged at different stages of the advice and service process. Depending on the advice being provided and your personal situation, fees can be charged in a number different ways.
Typical approaches include:
- Limited advice or specific advice - you pay for specific services to deal with specific issues. This is often charged as a fixed fee based on the estimated time and expertise required.
- Stages of advice - you pay for the specific stage of the financial planning process that you use. This might include an analysis fee, a strategy fee and a journey management fee.
- Advice packages - you pay for a suite of advice and services depending on your needs.
How much will my fees be?
Your Financial Services Partners Adviser will be able to provide you with an indication of their fees. This information is also found within the Financial Services Guide. This document will be given to you by your adviser, usually at your first meeting.
The actual advice and service fees that you will pay will depend on a number of factors, including:
- the nature and complexity of your situation
- the complexity of the advice being provided for your situation
- implementation costs
- the ongoing advice and service offered, and
- your adviser's time.
How can I pay?
Your Financial Services Partners Adviser may offer a range of options to pay for the advice and service provided, including a fee invoice, a regular direct debit from your account, or a fee debit from the product or service you have implemented. If you have implemented a personal risk product, a commission may also be payable.
Your Financial Services Partners Adviser will be able to provide you with specific fee information once they understand your advice and service needs.