Our fees are transparent. To understand our fees structure, you need to understand the financial planning process known as the Six-Steps process and the contents that goes into the plan. 

The Six-Steps Process and how we charge our fees

There are altogether six steps in a financial planning process. Each stage has its own fee structure. The six steps are:

• Step 1: Setting Objectives
• Step 2: Fact Finding
• Step 3: Analysis
• Step 4: Recommendations
• Step 5: Implementation of recommendations
• Step 6: Review

Initial planning stage: For Step 1 to Step 4, we charge based on an hourly rate. The hourly rate depends on whether it is a Simple Financial Planning or Comprehensive Financial Planning. The total number of hours require depends on the complexity of the case. The complexity of the case is in turn depends on the contents of the financial plan.

Implementation stage: For Step 5, fees charged for the Implementation of the plan varies significantly and is transactional in nature. If the client requires legal advice, the cost is the legal fee. If the client requires to write a Will, the Will writing fee applies. If a trust setup is required, the cost is the trustee’s setup fee. If the client is required to purchase an insurance product, the cost is the premium payable to the insurance company.

Review stage: For Step 6, the review of your financial situation depends on the nature of the original financial plan. Because nothing is static, a review is required. Sometimes a review is only required once every few years while others require more frequent attention. Investment management is a typical activity that requires more attention. We charged a retainer fee for Step 6.

As you can see there are generally three stages – Initial planning, Implementation and Review. All new clients are required to take up the Initial planning stage. They are not permitted to take up Implementation stage without the Initial planning stage. However, those who did Initial planning stage need not engage us for Implementation stage if they are able to obtain a better pricing themselves. Those who want to engage us for Review stage need not engage us for Implementation stage but must have engaged us for Initial planning. The following are some summary tables:

Note: All fees subjected to GST. Fees are subjected to change too. Clients will have to sign on an agreement to charges before the actual commencement of work.

+Working hours are from Monday to Friday, 9am to 5pm excluding public holidays

Contents of financial planning

The following is a table showing the difference between Simple planning and Comprehensive planning. The estimate hours shown is for the purpose of providing an indicative amount of work to be done for each case. 

Specific Needs Planning

There could be cases in which a specific need is required to be addressed such as planning for parents with special needs child. Such planning also fits into the same framework described above in terms of Six-Steps financial planning process. However, the content of the plan will be not be exactly the same. Click on the image below to see the enlarge image: