Cost of Financial Advice in NZ: How Much Does Financial Advice Cost?.

The cost of financial advice depends on the type of advice you need and the level of ongoing service you select.

At Yovich & Co, the initial meeting is free. This gives us an opportunity to understand what you need, explain how we may be able to help and talk through the services available.

If you decide to proceed, the cost of preparing a Statement of Advice is $250 + GST. If you accept the advice and continue with the recommended service, the $250 is rebated.

What Does the Statement of Advice Include?

A Statement of Advice sets out our recommendations and explains why they are appropriate for you.

Depending on the advice required, it may cover areas such as:

• How your money should be invested
• The level of risk that may be appropriate
• Which investment structure or service best suits your needs
• How to generate income from your investments
• Retirement planning
• KiwiSaver fund selection
• Changes to an existing portfolio

For example, someone investing an inheritance may need advice on how much to invest, how much to keep available and how to balance income, growth and risk.

What Influences Ongoing Fees?

Ongoing fees are determined by the level of service you select.

The cost may vary depending on:

• Whether you require one-off or ongoing advice
• The level of investment management provided
• The value and complexity of your portfolio
• How often your investments are reviewed
• Whether you need regular adviser meetings and reporting
• The amount of administration and support involved

A client who wants ongoing portfolio management, regular reviews and investment recommendations will receive a different level of service from someone who only requires advice on a specific matter.

What Do Ongoing Fees Cover?

Depending on the service selected, ongoing fees may include:

• Monitoring and managing your investments
• Regular portfolio reviews
• Investment recommendations and rebalancing
• Adviser meetings
• Reporting
• Retirement income planning
• Ongoing access to your adviser
• Adjustments when your circumstances change

All fees are explained before you proceed so you understand what is included.

Is Financial Advice Worth the Cost?

The value of financial advice comes from having a clear strategy and knowing your decisions are based on your goals, timeframe and circumstances.

An adviser can help you avoid unsuitable investments, structure your portfolio appropriately and make changes when needed.

The value is not only about investment returns. It also comes from having a plan, professional oversight and confidence that your money is being managed with purpose.

Frequently Asked Questions

Is the first meeting free?
Yes. The initial meeting with Yovich & Co is free and there is no obligation to proceed.

How much does a Statement of Advice cost?
The cost is $250 +GST. If you accept the advice and proceed with the recommended service, the $250 is rebated.

Does everyone pay the same ongoing fee?
No. Ongoing fees are based on the level of service selected, value of investments and the work involved.

Will I know the fees before I proceed?
Yes. We explain the fees, what they cover and the level of service you will receive before you make a decision.