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Select Wealth cuts fee

30 September 2019

Select Wealth is reducing its Select Fee for portfolios under $250k from 0.60% to 0.55% on 1 October 2019.

The move is one of several changes to improve Select Wealth’s services and promote growth.

Andrew Kelleher, Select Wealth Director, said it represented Select Wealth’s desire to introduce continuous improvements to the service.

“Since we acquired the service in 2015, we’ve already reduced fees once and have also added a series of additional features and benefits like an online Statement of Advice. As we have continued to grow and introduce further efficiencies, we are delighted to now be able to reduce fees a second time”.

“In addition to competitive fees, our financial advisers and clients get to enjoy the benefits of the wider Select Wealth Management service, which include a range of model portfolios and access to securities from the NZX, ASX and NZDX. The extended menu provides a broader range of investment options, so that advisers have the option of customising portfolios to meet the needs of individual investors”.

“We’re also very conscious at the moment of the changing regulatory environment for our advisers. Helen Robertson and Tahana Tippett from our Select Wealth team are working closely with financial advisers to understand how we can develop solutions that meet their requirements”.

Mr. Kelleher says, “Select Wealth Management’s proposition of utilising our DIMS license, the Select Model portfolios, investment research and management expertise ensure sophisticated investing remains easy for financial advisers and clients”.

Fees were reduced in 2017 for Select Wealth’s under $500k, $1m, $3m and $3m+ portfolio sizes. The Select fees are inclusive of GST.


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