What Is Fee-For-Service?
Tupicoffs operates under the Fee-For-Service umbrella of remuneration for Financial Planners. Meaning that we charge an annual fee which covers all our work for the year. There are no other fees or charges for preparing Statements of Advice or implementing recommendations, nor do we charge asset based fees. This means that our clients know when they sign up exactly what we expect from them, and they know what they can expect from us.
At Tupicoffs we do not receive any form of commission or remuneration from financial institutions. This means our advice is focused on our clients best interests, not product providers.
Each year our clients have the option to re-engage us for another twelve months. If they want, clients are able to discuss an increase or change to the work we do for them, and we will issue them with a new annual fee based on this information.
Our fee varies for each client based on the amount and complexity of work required. Our initial meeting allows us to understand your current financial situation and your financial goals. From the information provided in that meeting we prepare the outline of how our services would apply to you as a client agreement. After our initial meeting we will prepare a client agreement and send this to prospective clients with a quote for their annual fee. Clients can make a decision about whether they wish to use us after they have received our client agreement and fee quote, and had time to consider them. Clients are also welcome to contact us to discuss anything in their agreements that they find unclear or would like clarification on.
If we don’t think we can add more value than the advice will cost then we will be upfront about that as well. We won’t take on clients unless we believe that we can add value relative to the cost.
