The cost varies from client to client, depending on the complexity of the advice required. The initial meeting with one of our advisers is free of charge. At that point, we will gather relevant information about your current situation, and then we will look to see what strategies we can employ to help you achieve your objectives.
Initial cost
C & J Partners provides excellent advice in the form of written Statements of Advice (SOAs). The fee for preparing a SOA will generally be between $1,650 and $3,300, depending on the scope and complexity of the advice. The cost will be fully disclosed to you prior to any expense being incurred, and in most cases, the expense can be paid from your superannuation.
Ongoing cost
Our ongoing cost of advice is 0.88% per annum of your investment balance, and this may be less if the appropriate strategy for you involves a Self Managed Super Fund (SMSF). The ongoing cost of advice with a SMSF is a flat dollar fee, which varies depending on the complexity of the fund and the level of service that you require.
Personal Risk Insurance
We will take great care to identify and recommend insurance that provides the best value for money for our clients. In line with industry practice, C & J Partners receives a commission on insurance placed through us.
Please note that while the commissions are payable based on the premium you pay, the commissions do not form part of your premium and are not an additional fee to you. The level of commission payable to C & J Partners will be fully disclosed at the time of the recommendation.
SMSFs are the fastest growing part of the superannuation market, but they are not for everyone. SMSF's offer an unparalleled level of flexibility and diversity of investment opportunities, but with great power comes great responsibility. Being a member, and therefore a trustee, of a SMSF requires you to be actively involved in the management and compliance of your super fund, and there are severe penalties for those who do not take their responsibilities seriously. C & J Partners will work with you to ensure you remain on track with your obligations, but it is important to remember that it is the responsibility of the trustee to ensure the fund remains compliant with superannuation rules.
A SMSF's fee structure differs from a standard retail or industry fund, and this is another area where SMSF's can be worth consideration. While a standard fund tends to charge fees on a largely percentage basis, meaning you pay more as your funds grow, a SMSF tends to have more 'fixed dollar' fee structures. As a general rule, if the combined superannuation balances of yourself and your partner is less than around $250,000, it is likely that a SMSF is not going to be economical from a fee perspective. As your funds increases over and above this level, the balance can shift towards a SMSF being economical. If you have a super balance of over $500,000, it is advisable to compare a SMSF to your current arrangements to see if it is something that will save you money (assuming you are prepared to take an active role in your super going forward).
C & J Partners are specialists in SMSF and we would welcome the opportunity to discuss your suitability and compare your options.
We are a full service accounting and financial management firm, known for our ability to solve problems – making us the firm that other accountants turn to when a complex situation arises. This solution driven focus has enabled us to provide helpful business solutions in matters where time and complexity have proved otherwise challenging.
Our office is located at Eastwood, however, our services not only across Eastwood, Ryde and the surrounding area but also across the Sydney region. Please feel free to contact us for details.
