Fees

Financial planning fees

 

Andep has been fee for service for nearly 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 fees, with our current rates shown below, that are charged for the time spent meeting with and reporting to clients.  We do not charge any ongoing fees and we leave it up to the client how frequently we review their situation. By not accepting commissions on insurance products, clients 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 an adviser to point them in the right direction 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 on our usual advice processes at the bottom of this page.  Often clients simply need to speak to an adviser to discuss their situation generally and a full Statement of Advice (a formal report usually 20-30 pages in length) is not needed.  

 

We invite our clients to consider our fees as an investment, and consider them as proportion of their assets. 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.  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.

 

Fees can be paid by direct deposit, credit card (with a surcharge) 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 (if it was for follow-up/subsequent advice).  

 

Click here to download a copy of our Financial Services Guide (FSG).

Hourly rates

  • Senior adviser $420 per hour + GST
  • Adviser $315 per hour + GST
  • Para-planner $210 per hour + GST
  • Administration $145 per hour + 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 a “general advice” appointment at the flat rates below. 
Liz Rae: $600
Dennis Barton: $800
All rates/prices are inclusive of GST.

 

Referral policy

 

Andep disagrees with paying its clients to refer other clients due to the obvious conflict. Where there is a known client referral we instead give a discount of 10% to the referred client.


OUR PROCESS AND WHAT TO EXPECT

Because 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- SCOPEDPERSONAL ADVICE- FULL
Pre reading of a client’s situation prior to the meeting (5-20 mins) Pre reading of a client’s situation prior to the meeting (5-20 mins) Pre reading of a client’s situation prior to the meeting (5-20 mins)
Initial meeting (30-90 mins) Initial meeting (30-90 mins) Initial meeting (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 is prepared (1-3 hours) Full statement of advice is prepared (3-8 hours)
Expected final cost: $350-$1,000 depending on the adviser seen and complexity/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, meeting with clients to help with implementation of recommendations in the statement of advice. (15-60 mins) If needed, meeting with clients to help with implementation of recommendations in the statement of advice. (15-60 mins)
End of process End of process
Expected final cost: $1,500-$2,000 depending on the adviser seen and complexity/length of the discussion Expected final cost: $2,500-$3,500 depending on the adviser seen and complexity/length of the discussion

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


Providing Uncompromised Financial Advice In Perth Since 1982.