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Renewing adviser service fee arrangements from 1 July 2022


The 12-month transition period for ongoing adviser service fees comes to an end on 30 June 2022. Here’s what you need to know about setting up and renewing adviser service fee arrangements in our super and managed fund products from 1 July 2022.

Ongoing service fees are no longer available in our super or managed fund products after 30 June 2022, including existing arrangements that were subject to the 12-month transition period. Ongoing adviser service fees (ie, those paid over a period greater than 12 months) will be cancelled in our super and managed fund products from 30 June 2022.

From 1 July 2022 all new adviser service fees must:

  • be renewed annually by submitting a new Adviser third party information and fee authority form
  • not exceed the maximum amount of $8,000 per year (including GST)
  • be nominated as a dollar amount rather than a percentage
  • be deducted as either:

    • a one-off payment paid as a lump sum (from a super/pension account or managed funds), or
    • a one-off payment paid in monthly instalments over a 12-month period (from a super or pension account), or
    • a one-off payment paid in quarterly payment over a 12-month period (from a managed fund).

How to set up or renew an adviser service fee

Adviser service fees can be set up or renewed using the following forms:

These forms are also available on the forms and PDS pages of our website.


Why are advice fee arrangements changing?

We are changing our adviser service fees process to bring them in line with new rules around ongoing fee arrangements, fee disclosures, and the payment of advice fees. These new rules came into effect from 1 July 2021 as part of the Financial Sector Reform (Hayne Royal Commission Response No. 2) Act 2021.


Questions?

If you have any questions about our adviser service fee arrangements, please contact a member of our Adviser Relationship team.

Alternatively, email advisers@australianethical.com.au or call our Client Services team on 1800 021 227 between 8:30 am and 5:30 pm (AEST), Monday-Friday.

Australian Ethical acknowledges the Traditional Owners of the country on which we work, the Gadigal people of the Eora Nation, and recognise and celebrate their continuing connection to land, waters and culture. We pay our respects to Elders past, present and emerging and thank them for protecting Country since time immemorial.