Members may agree for their adviser to receive payment (“remuneration”) for “selling” them a product from this Fund or for adviser services. Any adviser remuneration will only be payable from the Fund if their adviser enters an agreement with the Trustee in relation to the payment of adviser remuneration.
The remuneration is negotiable between the member and their financial adviser. The rates of remuneration that may be paid to a member’s financial adviser are as follows:
Contribution Based Remuneration
0% to 5% of contributions, transfers and rollovers may be payable, as received. These will be charged at the time of the contribution, transfer or rollover, to the member’s superannuation account.
Asset Based Remuneration
An ongoing service fee of up to 2.0% per annum of assets under management may also be payable for services provided to a member as agreed with their financial adviser. This will be deducted monthly in arrears based on the account balance on the last day of the month.
Adviser Remuneration for Alternative Cover & Group Salary Continuance
In the case of Personal Members and Employer Sponsored Members who nominate or have Alternative insurance cover or Group Salary Continuance insurance cover, a commission of 16.5% in addition to the Insurance Premium is payable to their financial adviser or the adviser used by the member’s employer, on their approval or their employer’s approval. This commission has not been included in the premiums quoted in the premium tables on pages F-34, F-39 and F-40 of the PDS.
Financial adviser remuneration, which is described above, is not included in the fees and costs shown else where on this website. Members or financial advisers trying to determine if financial adviser remuneration applies to their or their client’s premiums, should refer to their or their client’s Welcome letter or alternatively contact the AMG Universal Super on (07) 3210 6733.