Our Financial Planning Fees are affordable and transparent. When do you start paying fees?
Step 1 – Free Initial Meeting
You will not be charged for an initial consultation - it is at our cost. During this meeting information will be gathered to provide you with assistance so that we can best meet your needs. If you agree to proceed to the engagement process you will be required to pay a commitment fee. That will be to deliver a detailed statement on your current financial position at thee second meeting.
Step 2 - Our Second Meeting
During this meet we will issue you a statement about your current position and offer strategies that might meet your needs. Upon agreeing to move onto the next stage, we will provide you with a financial plan which outlines our fee structures.
Step 3 - Financial Plan Preparation Fee
Your Statement of Advice will provide you with unique strategies from iMoney Wealth Management that will be tailored to your financial needs. Your Financial Plan Preparation Fee will differ depending on your requirements and the complexity of your plan.
The Plan Preparation fee covers work to advise a new client before they begin our ongoing financial advice service:
- Hourly Fee, or
- Mutually agreed performance fee.
If you are happy with our advice, we will commence the process of implementing the recommendations. We charge a fixed execution fee to implement your financial plan. This includes a meeting with you to confirm placement of our recommendations and prior to beginning our ongoing advice service.
Step 4 - Ongoing Review Annual Fees
depend on the amount and complexity of your advice.
As a client you will only pay a fee for achieving your outcomes. You want to do business to best achieve your outcomes - not just to clock up your bill. We do not structure fees around the size of your investment portfolio and do not sell any products to get higher commissions.
Relationship Service fee
is like an annual subscription for your golf membership which can be paid upfront or monthly.
Additional Services fee
If you are serious about learning or improving your golf handicap you may take golf lessons and tuition from a PGA golf instructor to examine and develop the core mechanics of your game. Similarly, you may pay an additional service fee for additional coaching and extra work during your life events (marriage, divorce, retirement, birth of a child, death, receiving a considerable sum of money, etc).
Special Project fee
As the complexity increases you may pay a Special Project fee for us to project manage complex work involving several external specialists (e.g. accountants, financiers, legal advisors, estate administrators, government).