Fixed Fee - Fee For Service - No Ongoing Fees
One-Off Financial Advice: Pay Once, Then You Are Done.
Most advisers charge an ongoing fee. I do not. You pay one fixed fee for a complete plan, I present it to you, and that is the end of the bill. It is rarer than it should be.
$330, credited against your advice fee. If you do not need advice, I will tell you.
Four consultations a week.
Most People Need Advice Twice
Once to get set up, usually in your 30s or 40s. Once at retirement. In between, a good super fund does the work, and changes in your life rarely change which fund is right.
If you lose your job tomorrow, would that change your super fund? No. If you get promoted, would it? No. Most 'further advice' is putting more money into the same place.
Get the prescription once, from someone who has no reason to over-prescribe. Then get on with your life.
One-Off Advice Versus An Ongoing Adviser
Most advisers charge you every year. I charge you once.
| Comparison | An Ongoing Adviser | One-Off Advice |
|---|---|---|
| The fee | About 1% of your balance, every year | From $6,600, once ($8,800 if complex) |
| On $800,000, over ten years | About $110,000 | From $6,600 |
| Where your money sits | Often in a product the adviser manages | In your own name, in a low-cost fund |
| Who pays the adviser | Your balance, automatically | You, once, by invoice |
| If you do nothing | The fee keeps coming out | There is nothing to cancel |
Illustration only: 1% a year of a balance that starts at $800,000 and grows 7% a year. Real fees and returns vary.
Why I Work This Way
I was an adviser at Macquarie Private Bank by the time I was 25. It was about then I realised the industry takes far more than it gives. People go looking for advice and wind up with products.
I cannot design a better portfolio than a top-flight industry fund. I do not have their scale, their bargaining power or their hundreds of analysts. If I could, every person I have ever met would be in it. So I do not pretend to, and I do not charge you every year for pretending.
I would make far more running the standard model. I would rather sleep.
How One-Off Advice Works
1. Consult
A 45-minute consultation by Zoom, Teams or phone. We go through your super, insurance and investments with the actual figures on the table, and I tell you plainly whether full advice is warranted, what it would cover and what it costs. It is a consultation, not an advice session. $330, credited in full against your advice fee.
2. Advise
A Statement of Advice: a fixed-fee, one-off document covering superannuation, insurance, investments and tax, with clear recommendations and the reasoning behind them. Presented to you in a dedicated meeting.
3. You're Done
Get on with your life. No ongoing fees, no retainers, no percentage of your assets. Most people need advice twice in their lives: once to get set up, and once at retirement.
What Is In A Statement Of Advice
What You Will Never Get From Me
- An ongoing fee, a retainer or a percentage of your assets
- A commission from any product
- A wrap platform you do not need
- An annual review you did not ask for
- A portfolio only I can explain
What Does An Extra 1% A Year Cost You?
Fees you do not need, or returns you are not getting. Put in your own numbers.
Higher fees, weaker returns, or both. Compare your fund's fees and returns with a low-cost alternative to find yours.
- With the extra cost
- $1,603,568
- Without it
- $1,934,842
Illustration only. Assumes 7% a year before the extra cost, no contributions or withdrawals, no tax and no inflation. Not a forecast and not personal advice.
One-Off Advice, Answered
What is one-off financial advice?
Advice you pay for once. You receive a written Statement of Advice with specific recommendations, it is presented to you in a meeting, and there are no fees after that.
Is fee-for-service advice the same thing?
Not always. Many advisers call themselves fee for service and still charge a fee every year. Ask whether the fee stops. Mine does.
Who puts the advice into action?
You can, with step-by-step guidance that is included. Most of it is a few forms and phone calls to a super fund. Nobody is required to have me implement anything.
What if something changes in five years?
Come back for an hour or two at $660 an hour, or for fresh advice if your whole situation has changed.
Why is this so rare?
Because an ongoing fee on a client's balance is the most reliable income in financial services, and giving it up is expensive. I think it is worth giving up.
Is the fee different for a couple?
No. The fee is the same whether the advice is for one person or a couple.
Can I pay the fee from my super?
No. Fees are paid personally. I do not accept payment from super funds.
General advice only. It does not take your objectives, financial situation or needs into account. Consider whether it is appropriate for you before acting on it.
Where Are You At?
Coming Up To Retirement
How much is enough, when you can stop, and how to draw it.
Already Paying An Adviser
Find out what you really pay, and whether it is worth it.
Sorting Out Your Super
The right fund and the right option, chosen once.
Thinking About An SMSF
Whether you need one. Most people do not.
Just Received A Lump Sum
Inheritance, redundancy or a property sale.
Book A Consultation
If you do not need advice, you find out for $330, not $6,600.
- 45 minutes with the adviser himself, not a junior
- A fixed quote on the call, if advice is warranted
- The $330 is credited in full if you proceed
Why $330 and not free? A free first meeting is usually paid for later, through ongoing fees. I would rather you paid once for my time and owed me nothing.
Pay $330 now. A consultation, not an advice session. Reschedule up to 48 hours before.