From 1 March 2020 we will be introducing a new fee structure and premium features.
With the significant changes happening in advice and our continued advances in technology we've taken the opportunity to make some changes. This is now your chance to better service clients and continue to meet best interests duty with the enhancements to our Wealth Accelerator Plus and Super Accelerator Plus products.
From 1 March 2020 we're introducing new fees to benefit the majority of clients, as well as new investment options to suit the needs of High Net-worth clients.
We've updated our administration fee structure for both Super and Wealth Accelerator Plus accounts to benefit most clients. From 1 March 2020, lower administration fee rates will apply for new clients, with the addition of a minimum annual fee of $550. Click here for more details about our new Accelerator Plus fees.
Also, for accounts with over $1 million in international securities the fee rate has been reduced. This change applies to all clients from 9 January 2020.
There has been no change to the fees for Accelerator Core.
As a guide, accounts with a balance greater than $62,000 for Super Accelerator or $77,000 for Wealth Accelerator account are likely to experience reduced fees. The threshold may differ for clients who are part of a family group or where special fee arrangements apply.
For a client with $250,000 in Wealth Accelerator Plus the saving in fees could be up to $285 a year.
For clients that are unlikely to benefit, they may wish to consider our Accelerator Core offering.
To help you meet the needs of your wholesale clients, we've introduced a Premium Service in Wealth Accelerator Plus and Investment Wrap. The Premium Service includes access to:
The Premium Service operates on a user pays basis. Clients will pay fees based on the premium assets they choose to hold.
Details of the Premium Service and how to qualify a wholesale client are included in the Netwealth Wrap Service Guide 2 Premium Service for Wholesale Clients which will be made available on our website.