Netwealth sharpens adviser fee design

Amid increasing competition in the platform space, Netwealth has offered more attractive fee arrangements to financial advisers.

In an e-mail sent to advisers this week, Netwealth said it was offering additional per centage advice options in its Super Accelerator Core and Wealth Accelerator for fixed per centage advice fees noting that they could be calculated with reference to:

1. your client’s total account balance;^[
2. all assets held outside a Managed Account only;
3. all assets held within a Managed Account only;
4. a combination of the above (except for A and B together).

It said that per centage-based fees were calculated daily and deducted monthly in arrers from client cash accounts.

Netwealth’s communication to advisers also announced new investment categories for managed funds and managed models noting that the new categories are ‘Australian fixed interest – specialist’ and ‘International fixed interest – specialist’.

“The new categories have resulted in some managed funds being reclassified from ‘fixed interest – general’ to fixed interest – specialist’. This reclassification has resulted a change to the investment limits and SRM assigned to these managed funds,” the communication said.