Macquarie Online Trading gives you the option to charge a service fee or client directed payment (CDP) on trades made on your client’s account.
To enable this, your client must complete the Direction to pay your financial adviser form and authorise the payment and its value.
Charging a service fee in Macquarie Online Trading
Set the adviser service fee on a trade
Once authorisation is set up on the client’s account, you’ll see Service Fee in the brokerage box on the right-hand side of the order pad when you go to place a trade.
On the order pad you have two options - Free and Default Licensee.
- Free brokerage means the CDP value won’t be charged to the client as part of the order. The client will be charged the standard brokerage rates.
- Default Licensee will display a dollar and percentage value for CDP. The client will be charged the greater of the two values based on the value of the trade.
When selecting default licensee as a brokerage option, you’ll have the option of reducing the CDP value to a lower dollar value or percentage. Please note you won’t be able to increase the CDP beyond what the client has approved.
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