What Fee for Service means, and why it matters.
Fee for Service Financial Advice
What does fee-for-service financial advice mean?
It means no commissions.
It means no hidden fees or charges.
It means you know what your annual fee will be before you sign on.
It means you agree to your fee before we develop your plan.
Most importantly, it means no surprises.
What is fee for service financial advice?
The financial advice that Tupicoffs provides is comprehensive and personalised to each client. We don’t have predefined services, strategies, or products. We believe that every client is different and therefore all financial advice must be tailored to each clients individual needs and circumstances. The process of tailoring and the versatility of our services depending on client needs, is how we provide value to our clients.
It can be called many things; fee for service financial advice, flat fee financial advice, fee only financial advice. In all cases it means that clients pay only for the services provided by their financial planners. They don’t pay asset based fees, or commissions.
The Tupicoffs Fee-for-Service Approach
At Tupicoffs we charge our clients an annual fee that covers all of our work for the year. There are no other fees or charges for your Statement of Advice or for implementing recommendations. We don’t charge asset based fees. We are fully independent, and receive no commission or renumeration from financial institutions. We tolerate no conflicts of interest between product providers and our clients.
Our fees vary for every client based on the quantity and complexity of the work required. We meet with potential clients to get an understanding of their financial situation and their financial goals, then we prepare a client agreement and a quote of our fee. These are then sent to potential clients so they have time to peruse the document in its entirety and consider their decision.
Why Fee-for-Service Financial Advice Matters
To Tupicoffs
A fee for service financial advice model helps us to be completely independent financial planners.
We have no affiliations with other financial service providers and we do not receive commissions.
Independence is one of the core values of Tupicoffs. Our clients know that the advice we are providing, will always be in their best interests.
Our financial advice fee model allows us to keep an in-house team of some of the industry’s best Financial Planners and Strategists. It also ensures that we can provide ongoing management of our clients’ financial plans. We work with them to achieve their goals and we adjust for changes in the financial landscape and in their lives.
To Our Clients
The fees we charge cover the skills and work of our industry-leading team.
We work with our clients to build their unique financial plan and assist clients to put their plan into effect.
We do not believe in the trend of financial advice firms outsourcing their strategy and advice preparation. Instead we have a dedicated in-house team of Financial Planners, Financial Strategists and Client Service Managers, who all assist in developing and implementing our clients advice.
Part of our role is to ensure our clients have a complete understanding of their funds and their financial plan. Our clients value the conversations about issues or challenges they face with someone who understands their situation and will help.
