The Benefits of Tupicoffs Fee-For-Service Approach
The financial advice Tupicoffs provide’s is holistic and unique to every client we see. We don't have a list of predefined services, strategies or products. A core part of our philosophy is recognising that every client is different and our value lies in our ability to provide advice tailored for each client's individual circumstances. Charging fee-for-service allows us to provide this unique and tailored advice, with no conflicts of interest.
Our fee-for-service approach means we charge an annual fee. This 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. We do not receive any form of commission or remuneration from financial institutions. Each year our clients have the option to re-engage us for another twelve months if they choose.
This annual fee varies for each client based on the amount and complexity of work required. After our initial meeting, we will send a client agreement and a price for our work. 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. 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 we can add value relative to the cost.
Fee for service allows us to uphold our values of being truly Independent Financial Planners, where we have no affiliations with other financial service providers and do not receive commissions. This is a core value of who we are as a business and reassures our clients that the advice we are providing, will always be in their best interests.
The fee we charge also covers the skills and work of our industry-leading team. We work with clients to build and implement a financial plan for them. We consider and discuss alternatives, we help clients understand their choices and trade-offs. Once a decision has been made, we assist clients to put their plan into effect. While many financial advice firms outsource their strategy and advice preparation, we have a dedicated in-house team of Financial Advisors, as well as Financial Strategists and Client Service Managers, who all play an important part in developing and implementing the advice.
Our team is recognised as Australia’s most awarded Independent Financial Planning practice. We are incredibly proud to have the industry's best working on helping our clients achieve their goals. Many of our Financial Planners and Financial Strategists have been national and international industry award finalists and winners. We also receive constant positive feedback from our clients, expressing their satisfaction with the thoroughness in which we provide our service. By having an in-house team, we can provide our clients with advice tailored to their goals, rather than pre-packed generic advice generally received when the service is outsourced.
By charging fee-for-service, we can provide ongoing management of our clients’ financial plans. We work with them to ensure they stay on track and to make modifications where the situation dictates. Our clients tell us they value the ability to have conversations about issues or challenges they face with someone who understands their situation. Financial confidence comes from knowing that we will always be honest with them and do our best to help them.
