Go to Top

Fee for Service Definition

In March 2004, the financial services industry experienced a transition of compulsory open disclosure of fees and charges by all advisers. This did place extra strain on financial advisers but allowed the client to feel in greater control of how the adviser was making their money and what expectations there was for the investment over the entire financial journey assuming long term ongoing management. This Financial Service Reform witnessed a change in the fee structure charged, with some advisers electing to break up the adviser service fee from the platform and the product manufacturer.

Although there has some been discussion over the definitions, it is generally agreed that Fee Based Financial Planning is:

A fixed amount charged to a client for an agreed level of service. This is charged based on the level of Service and/or Performance and paid ONLY by the client.

When Beresfords began in 1994, a fee-for-service approach was adopted from the beginning as a business philosophy. It is encouraging to witness the industry in general shifting towards that pricing model. We cherish the integrity that this provides as we seek only the best outcome for our client’s. It ensures the clients best interests are in the following ways:

  • No commissions by third parties tarnish the quality of advice
  • The focus is on developing financial solutions to achieve the client’s goals and objectives rather than entry into products

We at Beresfords are in awe of the responsibility that is entrusted to us when we seek to manage and grow something as hard won and as precious as your wealth. When it comes to fees and charges, Beresfords maintains a commitment to ensure client fulfillment by:

  • Not being contractually associated with branded product
  • Being open, honest and direct in communicating with clients
  • Ensuring client education through our transparent procedures and processes
  • Constantly reviewing our service structure and performance
  • Believing in and demonstrating the value of open disclosure through daily application

Beresfords understands that everyone is unique. No two clients are at the same stage in their life with identical resources. Therefore, our fees have been divided into 4 different value-for-money categories that reflect the level of Beresfords service. This ensures that the right fee can align with your needs and affordability.

There are a Number of Steps

Beresfords Fees are divided into 3 stages:

  • Creation of a Tailored and Holistic Financial Plan
  • Implementation of a Tailored and Holistic Financial Plan
  • Review the Plan Long Term and engage in Ongoing Supervision and Financial Management

If you would like an Adviser to contact you regarding our Fees and Charges, please click here.