Independent Financial Advice

Independent Financial Advice

Established by Dennis Barton (who is still one of our directors today) in 1982, Andep Investment Consultancy was one of Perth’s first independent financial advice practices. The name “Andep” is a contraction of “Analytical and Independent”. Andep was the first Western Australian and third Australian organisation to offer hourly fee based investment advice and this is still the basis of our fee structure today.

We do not accept any commissions, charge asset based or ongoing fees. We have a transparent fee structure with more information about our fees available here.

We have no ownership or licencing links to any of the bank or other financial product providers and avoid conflicts of interest at every opportunity.

Andep’s history of independence

When Andep was initially established, investment advice was routinely provided at no direct cost to the client and the adviser was remunerated by initial commissions and sometimes trailing commissions, both of which were fixed and could not be changed.  There was no capacity for fund managers to rebate fees that would have gone in commission to advisers to clients instead.  So Andep passed the commissions through its trust account, back to clients.   In the early days, before “dial down” of commissions,  this was the only way clients could benefit from Andep’s independence from commissions.  

Partly as a response to Andep and other genuinely independent advisers, some, but far from all, fund managers began, in the late 1980s and early 1990s, to offer commissions that were variable down to zero.  Andep’s clients always took maximum advantage of this “dial down” capacity.   Andep also offered a service to people who knew what investments they wanted to make and could see no reason for an adviser to receive a commission for no work or advice.  Andep sponsored these investments for those clients.  If it were possible for the client to benefit directly from commission freedom, Andep arranged this.  Otherwise, it received initial commissions into its trust account and passed them back to the investors.  In return for this service, Andep charged a small fee or elected to receive non rebatable trailing commissions.    

Andep’s fee structure for new clients, however, does fall within the definition of independence as it is now able to rebate all initial and trailing commissions on investment products and rebates all commission initial or trailing, on insurance products.  

Andep has always been located close to or in Perth.  We started in Altona Street, West Perth, then in 1990 moved to Parliament Place, West Perth, moving again to Hardy Street South Perth in 1997 and then in 2000 to its current building at 251 Adelaide Terrace Perth. 

Providing Uncompromised Financial Advice In Perth Since 1982.