Our planning principles, process and fees
Our Planning Principles
Our Engagement Roadmap
The process we follow goes through these critical stages:
- The most important point is to gain clarity on your future goals and aspirations and the financial outcomes that we need to plan for. Your vision for the future is intrinsically linked to your money and finances.
- You and I need to gather your financial data to complete a comprehensive analysis of your current financial situation.
- This analysis visually represents your current financial reality and provides the basis for your plan to create your chosen future lifestyle.
- We will then model various actions, options and investment strategies to show the impact on your financial future and allow you to bridge any financial gap. Various factors including tax, liquidity and risk will be taken into account. You and I settle on an outcome that you feel most empowered to own and to follow through.
- I will document your financial plan or the action plan for you to consider.
- We assist you to implement your plan, with effective solutions that are aligned with your required outcomes.
- You and I will review your plan annually to ensure that it remains relevant to your changing circumstances, adding and adjusting as necessary to ensure that you stay on track to meet your goals.
We refer to these as the pillars of our holistic financial planning process.
FKC operates as an independent financial planning practice and is paid for its services in the form of fees and/or commissions earn on financial and/or insurance product purchased on advice from FKC. In the event that no such products are purchased or that advice is not taken up in full, the fee earned is in the sole discretion of FKC insufficient to justify the time spent in providing the service to the client. FKC shall be entitled to raise a minimum fee of R1 500.00 per hour plus VAT for providing the service and/or any advice. Any fees/ commission earned will be offset against any fees charged.
Fees on investments are based on the following scales:
- initial fee of 0% of the initial investment and every subsequent contribution
- ongoing fees of 1% (VAT Excluded) per annum on assets under management from R1 – R2’500’000
- ongoing fees of 0.75% (VAT Excluded) per annum on assets under management from R2’500’000 – R10’000’000
- ongoing fees of 0.50% (VAT Excluded) per annum on assets under management from R10’00’000 – R50’000’000
- ongoing fees of 0.40% (VAT Excluded) per annum on assets under management from R50’00’000 – R70’000’000
- ongoing fees of 0.30% (VAT Excluded) per annum on assets under management from R70’000’000 upwards
Commission on long term insurance products
- commission on long term insurance implementation vehicles at the rate of commission allowed by legislation or as may be agreed by the parties.
- The client consents to the facilitation of payment of the fees to the financial planner from the product supplier or Investment Company concerned.
- The FSP shall be entitled to revise the fees on an annual basis, whether up or down, (“the revised fees”) on written notice to the Client, provided that the practice shall give the Client at least 1 months written notice of the revised fees.