(08) 9225 5899 LEVEL 13, 251 ADELAIDE TERRACE, PERTH
 

Fees

Financial planning fees

 

We invite our clients to consider our fees as an investment, and even consider them as proportion of their assets.  Andep’s fee model is very different to most financial advisers and we are confident that we provide great value for money for our clients.

 

Andep has been fee for service for over forty years.  This means we do not receive any commissions from the products we recommend.  With no ownership or licensing links to any financial product providers you can rest assured the advice we provide is unbiased.

 

We do not charge asset based fees on funds under advice as we believe this creates a conflict of interest and isn’t fair for our clients.  Our only remuneration is hourly or fixed rate fees, with our current rates shown below, that are charged according to the time spent meeting with and reporting to clients.

Hourly rates

  • Senior adviser $484 per hour
  • Adviser $363 per hour 
  • Para-planner $242 per hour
  • Administration $182 per hour 

All of the above rates are inclusive of GST.

 

Dennis Barton’s time is always charged at the “senior adviser” rate.  Liz Rae’s time is charged at the “adviser” rate when conducting client meetings and the “para-planner” rate when writing up meeting notes or preparing reports.

 

Fixed fee appointments

For those clients who prefer the certainty of a fixed fee appointment, we offer our “general advice” appointment at the flat rates below. The majority of our clients will only need a general advice appointment.  Please see below for information about what a general advice appointment involves.
Liz Rae: $650
Dennis Barton: $850

The above rates are inclusive of GST.

 

 

OUR PROCESS AND WHAT TO EXPECT

 

Because some of our fees are based around hourly rates and the time the advice process will take is not clear at the outset, the ultimate fee clients pay is often uncertain. The table below attempts to give prospective clients a guide on what to expect from our process and what the final cost will be.

 

GENERAL ADVICE PERSONAL ADVICE- SCOPED PERSONAL ADVICE- FULL
Pre reading prior to the meeting (5-20 mins) Pre reading prior to the meeting (5-20 mins) Pre reading prior to the meeting (5-20 mins)
Initial meeting containing factual information and general advice only (30-90 mins) Initial meeting discussing your personal financial issues (30-90 mins) Initial meeting discussing your personal financial issues (30-90 mins)
Adviser writes up of notes of what was discussed in the meeting (20-60 mins) Adviser writes up of notes of what was discussed in the meeting (20-60 mins) Adviser writes up of notes of what was discussed in the meeting (20-60 mins)
Those notes are peer reviewed by a fellow adviser before they are sent to the client (5-20 mins) Those notes are peer reviewed by a fellow adviser before they are sent to the client (5-20 mins) Those notes are peer reviewed by a fellow adviser before they are sent to the client (5-20 mins)
End of process Restricted statement of advice on one issue is prepared (2-4 hours) Full statement of advice is prepared (4-10 hours)
Expected final cost (hourly rates): $450-$1,000 depending on the adviser seen and length of the discussion Restricted statement of advice peer reviewed by a fellow adviser (20-60 mins) Full statement of advice peer reviewed by a fellow adviser (20-60 mins)
 

If needed, a follow up meeting with clients to help with implementation of recommendations in the statement of advice. (15-60 mins)

 

Unlimited emails back and forth until the advice is successfully implemented

If needed, a follow up meeting with clients to help with implementation of recommendations in the statement of advice. (15-60 mins)

 

Unlimited emails back and forth until the advice is successfully implemented
  End of process End of process
  Expected final cost: $1,700-$2,500 depending on the adviser seen and complexity/length of the report Expected final cost: $2,500-$4,000 depending on the adviser seen and complexity/length of the report

 

 

For certainty of the final fee, fixed fees can be quoted for all of the above at the client’s request.

 

More about our fees

  • We do not charge any ongoing fees and we leave it up to the client how frequently we review their situation.  We have an analogy that a financial plan is like a will, one should always have one but it only needs to be updated when your circumstances change.
  • An advantage of not accepting commissions on insurance products is that clients receive an approximate 30% discount on personal insurance premiums for policies arranged by Andep.
  • Some advisers offer “free” initial appointments.  All Andep has to “sell” is our time and as such are unable to offer free initial appointments.  Often clients will only require a single appointment with one of our advisers as our appointments are so comprehensive and any further service would be unnecessary and over servicing.
  • The fees clients can expect to pay for advice depend on the complexity of their situation and the level of reporting and assistance required.  Please refer to the guidance above.  Often clients simply need to speak to an adviser to discuss their situation generally and a full Statement of Advice (a formal report usually 30+ pages in length) is not needed.
  • Fees can be paid by direct deposit, credit card or cheque. In some cases fees can be deducted from superannuation or other investments. If fees are paid directly, they can sometimes be claimed as a tax deduction.
  • Click here to download a copy of our Financial Services Guide (FSG).