Fee transparency to help you see the full picture

Transparent Fixed Fee Structure

Being independent financial advisors makes us rare. We think our financial planning fees make us truly unique. Simply disclosing it to you now is unique. But so does the fact that it is:

Consistent – we don’t charge different people different fees for the same work.

Fixed –  There are no unexpected surprises. There are no commissions. There are no percentage fees based on your account balance.

Annually renewable – We don’t sit back and collect fees for years on end. Every year you need to actively renew our agreement.

Statement of Advice (Financial Plan) Fee

$1,650 (incl GST)

This fee covers an initial meeting with you, the time we take to research your existing situation, determine our independent tailored advice, produce the Plan and then present the Plan to you.

+$550 for Self Managed Superannuation Funds due to additional compliance and complexity.

Plan Implementation Fee

$220 (incl GST)

This fee is only applicable if our recommendations entail using a product, and you seek our
assistance in establishing that product.

We waive this fee if you sign up for our Annual Service Agreement.

Life Insurance

0%

Life insurance is not something we seek to provide advice on.

Annual Service Fee

$3,300+ (incl GST)

Whilst not always required, if we have recommended an investment or superannuation portfolio, in most instances clients do value our Annual Service Agreement.

The promised services of an Annual Service Agreement are detailed within the Statement of Advice. The agreement has a lifespan of no longer than 12 months, and then your consent is required for the next twelve months. There are no additional advice costs, such as for future Statement of Advice documents for clients on an Annual Service Plan.

+ $1,100 p/a for each additional account (such as spouse’s account) due to the extra reporting and monitoring.
+ $550 p/a for Self Managed Superannuation Funds due to extra compliance requirements.

General Advice Meeting

$220 p/hr (incl GST)

We offer these consultations in order to ensure there is a low cost avenue for people to receive advice; albeit General Advice. There are significant limitations with General Advice, namely the advice I give is not specific for you.

General Advice does not take into account your particular situation, such as your objectives, financial situation or particular needs. For example, information about a product that might be suitable for you, but does not take into account your overall financial goals or actually recommend you take up the product, it is general advice.

Referral Fees

We do not accept or pay referral fees. We do not accept or pay any incentives.

If we refer you to another professional, it is because we think they are good – not because we get paid from them.

If an existing client refers someone to us, we may provide a token of thanks such as a movie ticket or bottle of wine.

IF YOU HAVE THE NEED, WE HAVE THE EXPERTISE YOU’LL WANT.

At Cornish Wealth we are not product driven. Strategies always come first. It is only after an appropriate strategy has been decided upon that products are explored.