Driving Down Financial Planning Costs

There are several certainties when it comes to investing; risk and reward are related, diversification reduces risk, asset allocation determines portfolio performance and an investor needs to maintain discipline no matter market conditions.

The final certainty is fees matter! They matter a lot because they’re a drag on investment returns. Along with our financial services licensee, FYG Planners, we’re mindful of fees you pay. We have a commitment with FYG Planners to look for ways to drive down fees whenever possible.

With this in mind, FYG Planners has successfully negotiated market leading fee reductions with one of our platform providers (where money is held) for clients on their platform.

We believe FYG achieved a particularly good outcome that came in two components:

A reduction in administration fees for super and pension clients.


Lowering the pricing cap of for all non-super accounts and for all super/pension accounts. Along with grouped pricing for up to 6 related family accounts.

Previously, fee capping didn’t occur for clients until a much higher level and there were no family grouping benefits.

You may notice we haven’t included specifics on the platform provider or the exact fees due to confidentiality reasons, but we’ll be more than happy to discuss these with you in person.

We’re proud to say for FYG this is the 5th admin fee reduction they’ve achieved for their advisers’ clients in the last 15 years. Importantly, given the potential growth of FYG Planners and its buying partners in the Asset Class Investing Group we expect they will be pushing to negotiate further discounts in the future.

In 2010 FYG’s “buying group” (FYG and 4 other firms) had $1.2 billion under management with this platform (FYG was about $600m). Today it is over $3.0 billion (which FYG represents over $1.45b).

Finally, you may notice the doubling in funds under management between 2010 and 2015. We believe this growth underlines, that as a client, you’re ahead of the curve in partnering with a non-institutional financial planning business.

Investors across Australia are beginning to realise what you’ve known for a while – it’s better to have a financial adviser who works for you rather than one who works for a bank or institution.

This represents general information only. Before making any financial or investment decisions, we recommend you consult a financial planner to take into account your personal investment objectives, financial situation and individual needs.

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