At Mango Wealth Creation we have turned the advice world upside down by putting the client first. As a fee for service firm we charge you based on the complexity of the advice required and do not receive commissions from investment products. Historically most advisers were agents for product providers selling and promoting products to clients and in return receiving a commission from the product provider. This meant that by being paid by the product providers they were effectively working for them. Clients were therefore a secondary part of the process. At Mango Wealth Creation you the client come first, as you pay us for the advice; the strategy and products to implement are designed with your best interest in mind.
Fee for service advice ensures that you are paying for the ‘service’ of a financial advisor and not for products that have inbuilt percentage based fees that last the lifetime of an investment. Clients pay their advisor just as they do their accountant or doctor, knowing that the advice they receive is objective and tailored to their needs.
The fee for service advice model uncouples the advice fee from the product. It is not dependant on fund managers or platforms, it is advice-centred not product centred, and it doesn’t penalise clients because they have more assets invested. It releases planners to focus on developing a service that clients need ensuring that they receive the ongoing service that they deserve.
(Please not that fee for service model only applies to investment products and does not apply to life and risk products, as these products are inbuilt with commissions.)
