Our process

This initial meeting is offered to you at no cost, emphasizing our commitment to understanding your financial needs and goals without any financial obligation on your part. Our primary aim during this meeting is to gather comprehensive information about your financial situation and to identify your primary goals and objectives in seeking financial advice. At the conclusion of this meeting, we will provide a clear outline of the next steps in the advisory process and transparently detail any applicable fees associated with our services. Our goal is to ensure transparency and clarity from the outset, allowing you to make informed decisions about how you wish to proceed with our advisory services.

You may incur a Statement of Advice (SoA) preparation fee, which is determined based on the complexity of your individual circumstances and the type of advice you require. This fee is designed to cover the cost of preparing a comprehensive and personalized financial plan tailored to your specific needs. It’s important to note that any fee for service must be paid within seven (7) days of the date of the tax invoice issued to you. The SoA preparation fee typically ranges from $500 to $2,000, depending on the intricacy of your financial situation and the depth of advice required. We strive to provide transparent pricing and ensure that you understand the value of the services rendered. If you have any questions or concerns regarding fees, we are here to address them and work with you to find a suitable arrangement. Our priority is to deliver high-quality advice that helps you achieve your financial goals while ensuring fairness and transparency in our fee structure.

Implementation is a crucial phase where we translate the recommendations outlined in your Statement of Advice (SoA) into actionable steps to achieve your financial goals. Before any work is initiated, we will provide a clear breakdown of all associated fees, including Implementation Fees, for your authorization. These fees cover the cost of implementing the recommended strategies and ensuring their seamless execution. The Implementation Fee may vary depending on the complexity of your financial situation and the scope of the advice provided. Typically, Implementation Fees range from $1,000 to $10,000. We prioritize transparency and will ensure that you fully understand and agree to the fees before proceeding with any implementation activities. Our goal is to deliver value-driven services that empower you to make informed decisions about your financial future while maintaining clarity and fairness in our fee structure. Should you have any questions or require further clarification on fees, we are committed to addressing your concerns and working together to find a solution that aligns with your needs.

Paramount Financial Services Pty Ltd may receive up-front commission of up to 60% (exclusive of GST) of your first annual insurance premium for arranging your cover. In addition, my company or I may receive, after the first year, an ongoing annual commission of up to 20% (exclusive of GST) of your annual insurance premium. Note that where commissions are the same for initial upfront and ongoing annual commission (i.e. level commissions) the above commission caps do not apply.

These commission payments are made by the relevant product issuers and are not an additional cost to you.

If you elect to pay a fee for access to services involved in the ongoing review of your financial planning strategy, the ongoing fee is based on the complexity of ongoing advice and the services provided.

The ongoing advice fee will be based on the level of services made available to you and the complexity of the advice. Complex advice requirements include the use of trusts and ownership structures, overseas assets, or incomes, executive options, or multiple investment entities. The frequency that review services are made available to you will also impact on the fee charged.

The ongoing advice fee can range from 0.88% to a maximum of 1.10% per annum. For example, for investments valued at $200,000 the maximum ongoing fee would be $2,200 pa.

For clients who prefer not to engage in an ongoing advice fee arrangement but still require occasional guidance on an ad hoc basis, we offer the flexibility of ad hoc advice services. In such cases, a transparent hourly fee of $250 per hour may apply for the advice provided. This fee structure allows you to access professional financial advice as needed, without committing to a recurring fee arrangement. We believe in providing our clients with the flexibility to choose the level of service that best suits their individual preferences and requirements. Our aim is to ensure that you receive high-quality advice whenever you need it, while maintaining transparency and fairness in our fee structure. If you have any questions or would like to discuss your specific needs further, please don’t hesitate to reach out, and we’ll be happy to assist you.