The Cost of Advice

Most expats have gone into their bank or perhaps been cold called by a financial advisory firm and then bought a life policy, a savings plan pension, an offshore investment after seeing the salesman. The service often appeared to be free and therefore it was painless. This is very much the “old” model: the financial adviser has sold a product on a one-off basis.

Expat financial advice is likely to have been limited to the sale of the product rather than considering how the new addition linked to what was already in place within the ‘bigger picture’.

You need to know up front whether or not the service is appropriate for you. Below is a summary of the scope of our advice and typically what it costs. We will always confirm in writing before beginning work of what we intend to charge.


First Meeting

We offer all new clients an initial meeting which is at our expense and without any obligation. This can take place at our offices in Singapore, at your home or another convenient location. We can also do this via video conferance.

Following this first meeting, we will write to you with our initial thoughts which confirms the services we can provide and the cost of these services.

It will cover the areas that we have discussed and some key points that should be acted on.


Advice and Planning

We can charge a fixed fee for our initial service depending upon the complexity of your situation.

• Starting at $1,500 for advice on choices at retirement, investment management or insurance planning

• Starting at $3,000 for Financial Planning for full cash flow analysis and tax and estate planning.

Please note that our fees will be higher in some cases depending on the complexity and scope of the advice we are delivering.

We will always tell you exactly how much you will pay before you agree to proceed with our services. If you do not wish to proceed then you can walk away


Implementation

To implement any financial product solutions will depend on the type of financial plan you need or want. The initial report fee can be offset against the implementation cost

Recommendation and implementation of a new regular savings investment.

  • $1500

Recommendation and implementation of a new lump sum investment/pension recommendation.

  • 1-3% of the total amount invested for a lump sum depending on the level of investment

Recommendation & implementation of Insurance policies.

  • We are paid by commission from the insurance company.

Maintain

To deliver these services we charge you on the value of the assets that we manage for you

• $1m and less 1%

• $1m and above 0.5%

Our fees are payable by invoice or if it is more beneficial for you by charging against the cash funds in the investment.


Platform/Product Cost

• Platform/Product for Regular Savings: 0.15%-0.3% pa

• Lump Sum Platform/Product: 0.15%-0.3%pa plus admin and dealing fees.


Compare us with others

We are sometimes asked how our fees compare with our competitors.

Many offshore advisers do not charge separately for the advice and implementation but bundle the price together which you only pay if you buy an offshore savings plan or protection product.

You should ask how much the adviser is earning and where his remuneration is coming from. You can then identify where the conflict of interest is and if the adviser has a vested interest in truly independent advice that is right for you.

If they will not tell you how much the commission is for the product then you should walk away.