What Does Financial Advice Cost?
An outline of the costs and benefits of choosing to proceed with financial advice.
If you choose to proceed with personalised financial advice, then at different points in the financial planning process you’ll be asked to contribute fees to prepare and implement your advice.
What costs are involved?
Suncorp will cover the cost associated with your initial appointment with a Suncorp Financial Planner, so there’s no charge to you^.
If you choose to proceed with personalised financial advice, then at different points in the financial planning process you’ll be asked to contribute fees, either directly or from your super fund, in order to prepare and implement your advice.
The fee you’ll pay depends upon the level of service you require:
- Standard Advice (eg. Superannuation or investment strategies, or advice relating to your personal insurance needs)
- Complex Advice (eg. Advice relating to multiple strategies, such as Transition to Retirement)
- Comprehensive Advice (eg, Highly technical advice that may require alternative strategy analysis, detailed research or extensive calculations)
- Subsequent Advice (eg. A review of your financial plan to ensure it stays on track)
Should you choose to proceed with the recommendations in your Statement of Advice, other fees may apply including portfolio management and transaction fees. All applicable fees, as well as any commissions that Suncorp Advice receives from its product providers, will be clearly set out in your Statement of Advice.
^A fee may be payable if you proceed to a financial plan.
What do you get for your money?
Your Suncorp Financial Planner will take considerable time, care and effort to ensure your Statement of Advice reflects your specific needs.
The service we provide will include:
- Research and analysis of appropriate strategies and solutions
- Structuring the advice to meet current legislation
- Preparation of a Statement of Advice tailored specifically for you and your financial objectives.
What’s in it for you? Well you can expect to benefit from:
- Greater financial protection for your family, assets and lifestyle
- Better debt and budget management
- Opportunities to invest tax effectively and boost your long term savings
- Maximising your income in retirement.
How does a Suncorp Financial Planner get paid?
Suncorp Financial Planners are remunerated differently depending on whether they are Representatives (generally located within Suncorp Bank branches) or Authorised Representatives (located in their own financial planning practices) of Suncorp Financial Services.
Representatives are employees of Suncorp and are paid a fortnightly salary. How much they are paid depends on their experience and qualifications. On top of their salary, they may receive a bonus dependent upon their performance across a range of criteria.
The remuneration received by Authorised Representatives could be in the form of Upfront Commission, Ongoing Commission or Fee for Service. The basis and amount of all commissions and fees for service will be set out in the Statement of Advice and explained by your Financial Planner.
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Financial product advice is provided by representatives of Suncorp Financial Services Pty Limited ABN 50 010 844 621, AFSL 229885.
This is general advice and does not take into account your objectives, financial situation or needs. Before acting on this general advice you should consider the Product Disclosure Statement and the appropriateness of the advice having regard to your objectives, financial situation and needs and consult your financial planner.