For a standard share trading account, there is no account keeping fee charged.
This would be appropriate to you if you are seeking an account to simply buy and/or sell shares. In this instance, you will be charged brokerage on share trades.
Our minimum brokerage charge is $125 plus GST for a one-off sale. The size of a transaction will often determine if a percentage fee will be charged instead, which is determined at the outset of the client/adviser relationship.
If you require a higher level of service, more proactive adviser contact, administration support, and higher sophistication of reporting, you would pay an ongoing fee.
Otherwise, you have a Chess Portfolio and then will pay a fee on a transactional basis, for example, when you do a transaction.
If a prospective client had inherited some shares and wanted to sell one share, usually I would impose a minimum fee of $150 plus GST for the sale. This is due to it being a laborious process to open an account, so for a one-off sale, we tend to charge a little bit more than our standard minimum.
Frequently asked questions
October 14, 2020
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September 25, 2020