Media Release
No Change to Hourly Advice Rates
Industry Fund Services (IFS) has written to its participating funds and
organisations advising that its advice fees for Industry Fund Financial
Planning (IFFP) clients will remain at $220 per hour for the 2009-2010.
The decision to cap the current hourly rate at 2008 levels will apply to all
members of the 30 industry & public sector funds that use IFFP services.
“The 2008-2009 financial year has been very difficult for our funds with
members facing another cycle of negative returns. The decision to retain our
fees at $220 an hour was not taken lightly and is an acknowledgement of the
all round pressures being felt by fund members” IFS General Manager David
Haynes said.
“As a flat fee for service planning practice, we do not have the ongoing
revenue streams from the commissions, trails and asset based fees charged
by our retail competitors. Nonetheless, we will continue to develop and
improve the comprehensive service levels IFFP provides on a national basis
to our client funds and their members.”
“Despite the continuing uncertainty surrounding the economic outlook, IFFP is
still committed to further expansion of its embedded planning and telephone
advice capabilities to meet the changing regulatory framework and growing
fund needs for cost effective, scalable advice services for their members,” said Mr. Haynes.
For more information:
David Haynes
General Manager IFS
Tel: 0429029230
Email: dhaynes@mail.ifs.net.au
20/07/09
ifs.net.au
iffp.com.au
