The benefits of collaboration – Australian Advice Network
How is managing our own licence (AFSL) helping you?
In 2015 Guide Financial joined with a couple of other likeminded firms to build a financial advice licence that our clients could trust and be confident in.
The dream was big! Through the tireless work of all firms pooling knowledge and resources, we are proud of what has been achieved. One aspect of what we have built through the Australian Advice Network (AAN) involves actively approaching financial providers to negotiate lower fees to pass on to our clients.
We wanted to share a little of the cost savings we have delivered to you – our clients – over the last year in 2023.
- Across our network we have negotiated reduced annual administration fees for over 1,580 clients, saving approximately $1,121,090 per annum
- Through negotiations with the underlying fund managers and the efficiencies in the model portfolios we provided further discounts to clients of $2,574,302 each and every year!
Collectively, clients of AAN are paying $3.695 million per annum less than clients in the same products where these discounts aren’t obtained and passed on.
That’s over $2,300 per person on average every single year! We think that’s a fantastic outcome for our clients.
