Adviser fees for superannuation and investment accounts

The fees set up on your client's account as at the end of a given month (or as at the day when the client’s account is closed) will be the fees applicable for that month (or part thereof if the account is opened or closed within that month). These fees are charged to the client's account on approximately the 3rd business day of the following month (or upon account closure).

If there is insufficient cash balance to pay the fees, the fees will accrue and be charged in the next month's fee run, provided there is sufficient cash to cover both the current and previous month's fees. 

When a new account is opened, adviser fees will be charged based on the account's fee structure:

• Flat dollar fees: Fees will accrue from the date the account is opened
• Percentage fees: Fees will accrue from when the funds arrive in the account.

If there is an update to the adviser service fee within a month, the updated fee will be used to calculate the fee for the whole month. That is, the old fee will not apply for the part of the month for which it was initially loaded.

If you submit an ad-hoc adviser fee request, this will be paid out as part of our monthly fee run. This means, if the fee run has ended and you submit a request on the 7th business day of the month, this will be charged during the regular fee run on approximately the 3rd business day of the following month (or upon account closure). 

Flat adviser service fees are based on an annual amount and pro-rated based on the number of days in a month. This means that months with more days in them will result in slightly higher fees than months with fewer days.

We start calculating and processing fees from the first business day of the month. From the time of calculation, processing and then payment to the dealer group, this may take up to 10 calendar days but no longer than three business days from the time the fee is deducted from the client’s account.

Please consider time taken to transfer funds between banks and your dealer group’s processes when on-paying any fees to you. 

All fees must be provided to us exclusive of GST. We will add GST net of the effect of any reduced input tax credit (RITC) to the base fee you and your client have agreed on.

On Macquarie Wrap, your IDPS, Super and Pension clients have the opportunity to receive a Reduced Input Tax Credit (RITC). 

We have the ability to claim a RITC of up to 75 per cent of the GST paid on some fees deducted from client accounts. This may include fees for certain brokerage services, investment account management, administrative functions and custodial services. We may also be able to claim a RITC of 55 per cent of the GST paid on some of the other fees charged. Where we have claimed a RITC, we will pass the benefit of this on to the client.

This means your clients get the benefit of a tax credit when the fee is deducted but you still receive the full grossed-up amount that you agreed with your client. 

You will be able to see the full amount you have been paid via the Remuneration Report. If you want to view your client’s fee structures which are displayed inclusive of GST and net of RITC, you can see this in the Fee profile screen in Adviser Online.