Our Approach to Financial Advice

At Prosperity Wealth Management, our approach to financial advice and investment management differs slightly from conventional financial planning offerings in several ways.

No Investment Commissions

Firstly, and very importantly, unlike many older financial planners, when it comes to Financial Planning, Superannuation or Investment Advice:

  • Prosperity Wealth Management is a Fee-For-Service company.  This means we set and agree on a flat fee for service, for the services we provide you.
  • We Never accept commissions or sales incentives on investment products from any financial suppliers we deal with.
  • We Never Charge a commission on Investment Fees,
  • We charge for the Design, Research and Construction of your Financial Plan,
  • We charge for implementing the strategies and products recommended in the Financial Plan.
  • We charge for the Ongoing Services we provide to you for the ongoing management, review, administration, and monitoring of your financial and investment strategies. (These changes are clearly explained to you at the first meeting and in our (Financial Servies Guide, which can be found here)

We like Transparency

Unfortunately, in the past, the financial services industry has had a reputation for hidden charges, inflated fees and translucent payment arrangements.  However, thankfully, this has now changed, and we ensure that:

  • All our fees are transparent, come with no hidden charges, and
  • Every year, we provide you with a customer Service Agreement that outlines the services you will receive and the cost for the provision of those services.

Our Investment Philosophy

We very much believe that technology will aid the investment success of the future. That's why we only use the very best, latest and most technologically advanced Investment platforms that give our clients one dedicated place to access all the information they need to stay in control of their wealth journey, including their investments, super and insurance. These platformers have been designed to be simple to use and to be flexible, so our clients can manage their wealth, in their way.  We also select them as they enable us to provide advice quicker, more accurately, and more cost-effectively than ever before.

The Old-Style Master trust, whilst effective for many, are expensive as they are an older-style fund structure.  For many years now, these structures have been superseded by the introduction of new fund structures and in particular, new technology platforms. 

Depending on the client's need, funds under management and objectives, we now encourage most clients to hold their assets in a WRAP Platform.  In using these modern platforms, third-party fees are minimized or eliminated altogether. It also provides the opportunity for much greater diversification and choice of investments, with some WRAP Platforms having up to 600 investment options.  This provides us with the ability to have multiple managed portfolios that can include Exchange Traded Funds, (ETFs) Term Deposits, and Direct Shares in the (ASX100, 200 & 300) all on the same platform, which, in many cases, provides significant tax benefits as well as consolidated tax reporting. 

You can learn more about Our Investment Philosophy here.

How we measure success

Finally, and this may come as a surprise to you, we don’t measure our success by the amount of money we make for you. We measure success by how well we have helped you achieve all of your lifestyle and financial goals.  Because it is only through measuring this success that we can determine your true achievement. Yes, achieving the financial outcome is important, but it is just one of several factors that we use to determine success.