Case Study 5: Advice on Retirement Planning
David and Mavis are married. David is retired and Mavis still works full time earning $50,960p.a. David and Mavis have a range of investments, including 3 different Allocated Pensions, and seek advice as to how best to structure their arrangements to maximise their wealth in retirement in the most tax effective manner.
Your savings:
- IFFP financial plan fee:$2840
- IFFP annual review fee: $880
- Fees charged by IFFP over 5 years (initial plan plus reviews): $7,240
- Fees charged by retail commission remunerated adviser: $25,246
- IFFP saved $18,006 in fees compared to advice from a retail commission remunerated adviser
- Net value delivered by IFFP: $70,961
- Net value delivered by a retail adviser: $11,714
The difference in net value over 6 years delivered by IFFP is $59,247 more than the value delivered by a retail commission remunerated adviser.