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Helping our clients understand their finances

Marshall recently met with a client, and throughout the meeting they indicated that they felt their fees were too high. In response Marshall asked some questions about which fees they were referring to, and their concern related to the monthly administration and product fees they could see in their superannuation cash account which tallied to almost $10,000 per annum. 

That certainly sounds like a large number, however when Marshall dug a little deeper he then explained what this number was made up of, and how it compared to the broader market when expressed as a percentage of the assets being managed.

As a business we feel that transparency is important and in portfolios we run, administration and investment costs are paid monthly and are visible to our clients, whereas many major funds wrap up those fees and only share them in annual statements. For these clients, with a portfolio of $1,960,000, it meant that they were paying product fees of 0.51% per annum, which when compared with peer superannuation funds, is a highly competitive number.

When framed in that way, our clients left our office feeling much more comfortable, knowing that they have a comprehensive family retirement plan at a similar or even less cost than some major superannuation funds.

If you wish to talk to one of our advisers about your retirement and superannuation call us today 9232 6800.

It’s my job to work as my client’s financial ‘lifesaver’ to ensure that they swim between the flags and that they don’t get in over their heads.

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