So you’ve invested in a managed fund? Did you know you’re likely to be paying fees and commissions on these? YourShare could assist you with getting a Cash-back on these investments by becoming the non-advice broker on your accounts.
By registering your managed funds with YourShare you can see if you are eligible for a Cash-back. YourShare works on collecting the fees and commissions you are charged on these accounts. Nothing changes on your accounts, except for the name of the broker or ‘servicing agent’ – it simply means as a yearly Cash-back service provider YourShare will collect the fees and commissions on your behalf and give you back what’s yours. Money that should be in your pocket, not someone else’s.
YourShare will start to work with your financial institutions to update your details to ensure YourShare is now collecting the fees and commissions on your behalf. Once your financial institutions have registered these products with YourShare you will reduce upfront fees to nil. Additionally each year thereafter you will receive a cheque for your share of all the fees and commissions generated as a result of your managed funds.
There are some restrictions on the types of financial products/funds YourShare can deal with. The Managed funds YourShare currently deal with include: Investment funds Master trusts Wrap accounts Margin loans Agribusiness funds Capital protected funds Structured investment products
Upon joining YourShare, all fees and commissions currently paid to your adviser will stop and be paid to your Cash-back account instead.