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Our financial planners do not receive or charge commissions*
IFFP charges on a fee-for-service basis; you only pay for the time it takes to prepare and implement your financial plan. The IFFP planners do not accept commissions for recommending a certain product, and are therefore only interested in giving you appropriate advice.**
Commission based financial planners can receive trail commissions and other benefits for recommending you a certain product, and this could influence their advice. They might also charge you initial or ongoing commissions for investing in a product, and this can end up being very costly.
Please note that the fees stated below might vary due to your personal circumstances.
Example - Investment and saving of $300,000
For example if you need Full Financial Advice on multiple issues such as Transition to Retirement, Super Income Streams (Pensions), tax planning, wealth creation, insurance, Centrelink, redundancy and estate planning.
| Fee |
Other Placement |
IFFP Placement |
| Plan preparation |
$1,500 |
$2,860^ |
| Amount available for investment |
$298,500 |
$297,140 |
| Initial commission @ 3% of amount available to be invested*** |
$8,955 |
Nil |
| Trail commission ^^ |
0.4% (i.e. initially $1,158 p.a.) |
Nil |
| Net investment |
$289,545 |
$297,140 |
| Value after 10 years at 8% p.a. |
$602,000 |
$641,000 |
| Additional growth |
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+ $39,000 (or 6.48%) |
* IFFP does not accept commissions (either upfront or ongoing). If IFFP receives commissions from the product issuer they will be rebated to your account.
** Our financial planners can only recommend products on IFFP's approved products list.
*** Other financial planning groups might charge you 1% - 4% of your investment as an initial commission.
^ Average fee for Full Financial Advice
^^ Other financial planning groups might charge trail commissions, a small ongoing amount paid to planners in the years after you buy the investment. It usually ranges from 0.4% to 1.25% pa.
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