Fee for service

Before we even begin plotting a course we ask where YOU want to be.

When we provide any kind of advice we first consider broadly what your needs might be. We can have a general chat about your options, this first meeting is at our cost. If we see there is a benefit for you in engaging us, we research our strategy in detail and produce what is known as a Statement of Advice. Once we have this plan, we can help you implement it and make sure that this becomes a reality. If we believe that we aren’t well suited to provide you with top quality advice or you have things handled yourself we will tell you so, at no charge.

After we have completed and implemented your initial advice, we can move forward as you wish. You can just let us know when you need further advice. Everyone’s needs progress and change over time so we encourage reviews but they are not mandatory as we have no ongoing fees.

Typically, insurance advice is initial only and our fee for service system saves you up to 30% on your premium every year. We believe this provides significant benefit for the type of client we work with.

initial advice

We always quote and agree on any charge before we begin work. The vast majority of our work fits into the following 3 tiers. The scope of our advice may change due to circumstances outside our control and we always discuss any amendments if needed.

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Tier 1 - Simple Personal Advice - for existing NOR clients +

ESTIMATED FEE RANGE: $880 - $1,760

**This tier suits existing NOR Financial clients, with no significant changes to their circumstances. While we consider other options and potential benefits this covers the majority of our review work that simply requires occasional course corrections. (Tier 1 simple personal advice is also included in our yearly advice retainer.) **

Examples include but not limited to:

✓ Reduce existing insurance cover

✓ Rebalance/adjust existing investments to suit your changing needs

✓ Contribute under 100k to existing super or investment

✓ Consider investment options and refer to network eg broker, buyers agent or SMSF specialist etc

✓ Increase existing insurance using automatic features eg Guaranteed Future Insurability or Newly qualified professional's option

Tier 2 - Intermediate Personal Advice +

ESTIMATED FEE RANGE: $2,200 - $3,960

Financial advice for clients not yet engaged with NOR Financial. We consider all relevant information and recommend a course of action and implement it with you. This covers all research, production and implementation of a new Statement of Advice (SOA)

Examples include but not limited to:

✓ Analysis of all existing Superannuation or Investment and potential alternatives

✓ Create new super or investment account

✓ Create investment bonds to fund children's future education costs

✓ Establish savings plan or investment account for defined goal

Tier 3 - Complex Advice +

ESTIMATED FEE RANGE: $4,400 - $6,600

This is most commonly for clients starting to build their financial foundations for future prosperity. You might need to manage tax or risk for the years ahead or start building a nest egg. It is unlikely that you would need this level of advice on a regular basis.

Examples include but not limited to:

✓ New/replacement insurance advice

✓ Complex investment strategy involving multiple entities

✓ Complex insurance alterations and restructure

✓ Tax minimisation strategy eg Capital gains tax management

✓ One off large super/investment contributions

General discussions and admin assistance +

ESTIMATED FEE RANGE: $440 - $880 (Admin assistance billed at $165 p/h in 15 min blocks)

**This is for basic general discussion with your adviser where no research is required. We can tell you what you CAN do but not what you SHOULD do. We also charge for administration tasks based on complexity. **

Examples include but not limited to:

✓ Admin and factual information only - No Advice Document required

✓ Tools and techniques, buy or rent etc.

✓ Admin assistance - Change of details or general adminstration work.

✓ Consider investment options - non product specific discussion on assets types and structures

✓ Tax minimisation - How different tax structures work and general pros/cons

✓ Assistance with setting up Will and Power of Attorney through our legal providers

✓ Initiate claims process (we send notification to insurer and you take it from there. Claims management by NOR falls outside the tiered pricing system and is discussed on an individual basis)

Moving forward - No Fees or commissions

No its not a carefully worded misdirection. We do not charge existing clients anything at all on funds under advice. Also, unless we both agree to a special case, we receive no insurance commissions. Where possible, we stay listed as your adviser on your investment, super and insurance accounts. We may offer a review or give you an update if something critical happens but ultimately we work on a reactive basis. When you want our advice we can often access information and act on your behalf without needing to update third party authorities. You simply pay for a service when you want to. At last check, this saved our clients over $5,000pa.

We give you adviser level access to cutting edge investment and superAnnuation platforms*

We have developed a system where you can become your own adviser. Our preferred platform is cost effective and allows you to trade and monitor your investments with adviser level access. If you need help you can contact us to help or contact your product provider directly. This means we remove all fees and commissions entirely and simply charge for the work you ask us to do, when you want us to.

NOR Financial knows that the concept of “value” is different for everyone. One of our guiding principals is that our work must benefit the clients that engage us. We will always provide you with the information you need to determine for yourself if our fee structure works for you. Ultimately, if we don’t think you are getting good value we will tell you so, and provide an alternative course of action.

Pricing FAQs

Extras

We help manage through our professional network. We don’t receive any referral fees or kickbacks but we can help with passing info back and forth so you don’t have to for a small admin fee.

Wills, Powers of Attorney and legal docs through Legal professionals
Entity & Trust structures through Accountants
Self Managed Superannuation Funds through specialist Advisers and accountants
Property purchase through buyers agent