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What fees are involved in the non-custodial administration service?

What are the administration fees? 

  • Non-custodial asset fee (per asset)
    • $100 + GST per asset, per annum, charged monthly
  • Non-custodial asset application fee
    • $220 + GST per asset application form completed by Netwealth
  • Historical data recreation 
    • Agreed upon time of request  

Netwealth administration fees will apply to the you/your client's combined custodial and non-custodial assets. Non-custodial administration fees will be deducted from the client’s platform cash account along with their custodial administration fees, as part of the normal monthly fee cycle.

Where an adviser wishes to retain the administration of any non-custodial assets (Adviser Managed), the adviser pays an XWrap licence fee of $16.50 (incl GST) per month per account, as they do today. Fees are usually charged at month end.  

 

What are the advice fees?

Advisers will be able to apply existing advice fee arrangements over the combined custodial and non-custodial account balance, if desired. For example, if the adviser is charging 0.70% on the balance of the Investor’s custodial assets currently, the Investor can agree to this fee being applied to the entire custodial and non-custodial account balance.

 

Can an AFSL or adviser pay the non-custodial fees on behalf of their client?

Yes, where fees are paid by the Investor to Netwealth, these fees are deducted from the Investor’s platform cash account. The licensee also has the option to pay these fees on behalf of their clients either as a default, or on an account-by-account or case-by-case basis.
Netwealth will calculate the fees monthly and issue an invoice to the adviser’s Licensee. Either the non-custodial administration fee, asset fee, or both can be paid by the adviser.

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