SOME COMMONLY ASKED QUESTIONS
No, Plenary Wealth is a privately owned business and does not have any bank ownership or control.
No, Plenary Wealth is not forced to sell any particular product or service. Our only ‘product’ is advice partnered with experience and that is all we offer.
We do not take commissions on any super or investment products. In fact, it has been illegal to receive commissions on these products for some time. We also do not charge asset-based fees or percentages (‘commission’ by another name).
Our fees are mutually agreed directly between adviser and client and are not dependent on product sales. We work on a fee-for-service basis and quote the fee upfront before a client commits to advice. Our ongoing advice fees or Journey Management Fee, if required, are charged as a flat dollar retainer cancellable at any time.
The initial consultation is at our cost. At Plenary Wealth we believe that only once we fully understand your goals, dreams and objectives can we consider the scope of the work involved and the value we can add. After this meeting we will provide you with an obligation-free proposal so you can make an informed decision.
This is a common misconception. Although we do assist clients reaching retirement or who have built significant wealth we actually provide the most value to our younger clients. This is simply because the earlier you get started on your wealth creation journey, the more strategies we can put in place, the more good behaviours we can set and the more compounding investment returns we can achieve.
Being ‘wealthy’ is not just about how much money you have but also about security, freedom of choice and looking after the next generation. In fact, the biggest determinant of wealth is the client’s motivation to engage in and take an active role in the advice process.
Debt reduction is often the first step in the wealth creation journey but it needs to be considered against competing goals. School fees, health, super and having fun along the way all need to be considered so we help clients to find the right balance.
If you have any other questions feel free to give us a call on (02) 8404 4145 to discuss.