Financial and Credit Services Guide (November 2011) Firstly, we have just updated our Financial and Credit Services Guide to incorporate changes to our fee schedule for new clients. The Annual Retainer which was launched in 1999 has been abolished and the Strategy Fee has been renamed to Initial and Ongoing Advice. The Initial Advice fee remains unchanged at 3.30% inclusive of GST but the maximum has changed to $22,000 inclusive of GST to pay for the one-off research, strategy recommendations and implementation required on each new dollar invested. The Ongoing Advice remains unchanged at 0.99% per annum inclusive of GST of total funds under advice but the minimum has been changed to a flat dollar amount of $242 per month inclusive of GST. Secondly, these changes will apply to all our existing clients from the 31st May 2012 which is immediately following the end of the current Annual Retainer year and in the coming months all existing cleints will receive a new Client Service Agreement to reflect these changes. Many clients will be unaffected and some clients will find that their new Ongoing Advice fee will be lower than the fee that they are currently paying while some will find that their fee has increased. We will contact each client individually and before the end of the current Annual Retainer year to discuss our new fee schedule and answer any questions. For more details, please click the ‘FCSG’ button located over on the left hand side menu. At Newealth we are always looking to innovate and improve our ongoing services wherever possible and if you have any ideas or comments, please feel free to email me via ‘Contact Us’ at www.newealth.com.au or to call me on +61 2 9267 2322.
9th-November-2011 | 
