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Case Study: Existing Pluto User
- Own AFSL with MDA.
- Automated ROA feature used for small group of clients
- 130 entities, mostly HNW (individuals, SMSF, family trusts)
- Strategic Advice: Charged ad-hoc (no ongoing advice related fees. No advice fees from financial products)
- Investment Management (on-going fee based on FUM)
- Individually Managed Portfolio Service (fully service active management of assets based on pre-agreed on Investment Program)
- Client Directed Assets (mail-house, reporting and ability to real-time tax plan)
- With advice firm and broker only (no platforms, custodians or REs)
- Owned and controlled by advice firm, no platform controls data or portfolio paperwork. Advice firm has direct relationship with share broker and cash account provider.
- Firm can cease using Pluto with minimal disruption and no CGT impact on clients.
- Investment Management Service: 1.5%
- Client Directed Assets: 0.35%
- All directly, legally held by the client
- Australian shares: shares, ETFs and LICs
- International Shares: ETFs and LICs
- Property: A-REITs
- Fixed Interest & Hybrids: Government Bonds, Corporate Bonds, Hybrids, ETFs
- Cash: Cash Management Trust and Term Deposits
- Other: N/A
Clients either elect one or more of the above of pre-packaged Risk-Based Portfolios eg: Conservative, Balanced, Growth, which are made up of the above model portfolios.
- Direct Commercial Property (held both directly and within related unit trusts)
- Direct shares
- Privately held company shares
- Portfolio admin – 1 part-time
- Asset management – 3 full-time
- Investment Service: $120m
- Client Directed: $15m
Investment Service: $1,800,000
Client Directed: $52,500
Other Staff ($370,000)*
* If the firm wanted to utilize an external model manager, this would reduce by $300,000.
$1m x 1.5% = $15,000
$500,000 direct property x 0.35% = $1,750
Trading Costs = $600
(on average p.a.)
Total = $17,350
1.16% of FUM.
- Percentage of revenues subject to annual FDS: <10%
- Percentage of revenues subjected to ongoing conflicted remuneration: 0%
- Comfort of knowing all assets legally-owned (no pooling with other clients)
- Comfort of professionals are actively managing their assets and looking after all paperwork, reporting etc.
- Receive a monthly Portfolio Update
- Contact managers of their assets at any time.
- View portfolio, all source docs 24/7
- Paying for a true, ongoing service
- The client’s accountant and auditor are given logins (where necessary) to allow source documents to be retrieved without the adviser needing to collate information.