Paying for the services we provide

AMP Financial Planning as the licensee collects financial planning advice fees and commissions on our behalf. They retain a percentage to cover their costs and the balance is passed on to us. The percentage is determined annually, based on a number of factors, including our business revenue for the prior year.

Payment options

We will agree with you the form and amount of charges before we provide any advice or services.

Our payment methods are:

financial planning advice fees; and/or
transaction fee and/or
commissions (for insurance and banking products).

These methods are explained below and the actual costs will normally be shown in our written advice to you or in the acknowledgement form completed when a transaction is requested. For transactions without advice you can ask us for details of the remuneration or other benefits at any time before the transaction is completed.

Financial planning advice fees

The fees charged for our advice and service may be based on:

a dollar amount
a percentage of the amount you invest
an hourly rate
a combination of some or all of the above.

Our financial planning advice fees may include charges for:

providing you with Initial advice and providing you with a statement of advice
providing you with ongoing advice and service; or
other fees – for example, a fee for a transaction

You may choose to pay these fees directly to AMP Financial Planning or from the product(s). Our schedule of fees is available on request.

Commissions

We do not charge commissions on investments through new superannuation, managed funds or retirement products. However, some products, particularly older products, may attract commissions.

Any commission amounts will be disclosed to you when providing our advice.

The following is a guide of commissions we may receive:

Investment products: contribution fee between 1.1% and 5.5% of all contributions made to the investment and between 0.11% and 0.44% of the investment value each year.
Insurance products (including those held within superannuation): between 99% and 110% of the first year’s premium and between 11% and 12.5% of the premium each following year.
Loans: between 0.22% and 0.33% of the outstanding loan balance each year.
Other banking products: between 0.33% and 0.55% of the balance each year.

All fees and charges include GST.

If an agreed advice fee is charged then we may rebate all or some of the commission.

NewCourse Financial Pty Ltd, ABN 57 131 584 953, is an authorised representative of AMP Financial Planning Pty Limited (Australian Financial Services Licence No. 232706).