Schedule of Fees and Charges - How Much Does it Cost?

Staff time is charged in 15 minute increments so there is a minimum charge for 15 minutes.

If an Adviser is doing administrative work, it will be charged at the administrative staff rate,

A portion of these fees are paid to the Adviser.

Brokerage is charged when we assist you to buy or sell securities.

Minimum brokerage $75.00.

Plus a Transaction Fee of $5.50 on listed securities. Please note that occasionally an order for a listed security may go through in more than one transaction so will incur more than one transaction fee. This may happen on securities with low liquidity that are infrequently traded or if the price limit is changed after the order is partially completed.

Brokerage and transaction fees are exempt GST.

A portion of brokerage is paid to the adviser.

BROKERAGE EXAMPLES

On any transaction of $5,000.00 or less you will pay brokerage of $75.00 plus, a $5.50 Transaction Fee if it's a listed security, 

A $20,000.00 listed share purchase will cost 1.5% on the first $10,000.00 = $150.00, plus 1.0% on the remaining $10,000.00 = $100.00. Total Brokerage $250.00 plus a transaction fee of $5.50 so total fees of $255.50.

A $120,000.00 transaction would cost $150.00 on the first $10,000.00 plus $900.00 on the next $90,000.00 plus $160.00 on the final $20,000.00 plus the transaction fee for a total brokerage of $1,210.00 and total fees of $1,215.50.

Please note that transactions on foreign listed securities exchanges will most likely incur additional fees.

Estimates of common Financial Planning Fees are as follows:

• Full Financial Plans generally take about 20 hours so $4,000.00 (including GST)
• Investment Only Plans generally take about 15 hours so $3,000.00
• An Insurance Plan generally take about five hours so $1,000.00

Reviews of existing plans usually take about half as much time as a plan done from scratch.

We will always provide you an estimate of the full cost of doing a plan for you before you incur further charges and will contact you if we look like exceeding the estimate.

Minimum fee per annum $69.00

Administration fees encompass holding your investments on your behalf, maintaining records of all transactions, tax reporting and performance reporting. These costs come under the definition of 'financial services' for GST purposes and are exempt from GST. These fees are retained by the Wrap Platform Provider.

Management fees are charged by Bay Financial Partners Limited for managing your investments and are subject to GST. A portion of these fees are paid to your Adviser.

If you are an existing client of Bay Financial Partners Limited we will load your existing portfolio to Sharesight and maintain purchase and sale transactions for free. You only need pay the monthly fee.

If you are not a client we are happy to quote you a price to set Sharesight up for you. It will be a minimum of one hour of our administration staff's time. And then at the hourly rate. It may take longer than an hour depending on the number and nature of the securities in your portfolio and how you currently have them recorded. If you have an electronic record we can start with it probably wont take us long. But if you only have pieces of paper it could take hours. If you tell us what you've got we'll be happy to give you a fixed price quote or you can set a maximum you are prepared to pay and we'll get all we can done for that price.

If you require reconciliations, transaction entry or preparation of reports you will be charged at our hourly administrative staff rate.

We only accept payment by electronic payment to our bank account which will be on the invoice we send you.

We do not accept cash, cheques or credit cards. If you wish to pay by these methods you can do so by going to your bank and crediting our account. 

Bills are payable within seven days.

Overdue payments will attract interest at 1.5% per month on the outstanding amount plus a collection fee of $25.00 per invoice per month outstanding.

If you place money in a KiwiSaver or Managed Investment through Bay Financial Partners Limited the company providing the fund may pay us a commission. The amount of the commission we receive depends on the value of your investments we place with them and the fund the investment is put into. Some pay us an upfront amount as a percentage, some a set dollar value, some pay an ongoing commission, and some pay us nothing The ongoing commissions currently range from 0.10%-1.05% per annum. We will provide specific details of the commission we will receive on your investment at the time our advice is given.

A portion of these commissions are paid to your adviser.

If you use Bay Financial Partners Limited to take out an insurance policy the insurance company will pay us a commission. The amount of the commission we receive depends on the annual premium you pay. Typically we receive an upfront commission when you first take out a policy and then an ongoing servicing commission for every year the policy is in force. The rates vary according to the insurance company used and the type of policy. We will provide specific details of these commissions at the time advice is given.

Because the insurance companies pay us we generally don't have to charge you for our time. However if you cancel a policy within the first three years the insurance company will "claw back" the commission they have paid us and so we reserve the right to charge you for the time we spent arranging it.

A portion of insurance commissions are paid to the adviser.

Reverse mortgage providers pay Bay Financial Partners Limited a referral fee once the loan is settled.

Because the mortgage companies pay us we generally don't have to charge you for our time. However if you cancel a loan the mortgage company will "claw back" the money they have paid us and so we reserve the right to charge you for the time we spent arranging it.

A portion of mortgage provider referral fees are paid to the adviser.