Alex Tullio
Dealing With IOOF

Discover the overlooked and underestimated power of...

By Alex Tullio

So you woke up this morning and thought, “Today I’m going to do something really great for my clients and my business.

“I’m going to make big savings for my existing clients, secure some more good clients and set up a nice stream of new clients for the future.”

These are admirable goals, albeit quite demanding! How on earth can you manage all that, particularly in our current environment?

Predictably, I’m going to say you can achieve all these things, but you might be surprised by how straightforward it is. You can do all of the above with the underestimated power of……fee aggregation.

“Fee aggregation?”

Let me explain.

As you know, one of the most powerful marketing forces for your business is word of mouth. No matter what we say, what you say or what the adverts say, there’s nothing more compelling than an endorsement by someone close to your prospective client.

Especially if that endorsement is not only that you’re a great person who cracks a good joke or two, but also that you could help them save thousands of dollars in administration fees - very quickly and very easily.

Aggregated and capped fees could create a stream of new clients

When your preferred platform can offer aggregated and capped fees for families you have a persuasive reason to ask about the financial situation of your clients’ family members.

Savings are available for everyone in the family. So you can easily create a situation where your clients go home and actively encourage their family members to come and see you. It’s a fantastic way to get new clients in.

By implementing fee aggregation you have saved your existing client a large chunk of administration fees, and simultaneously added the other family members as new clients.

As time passes, the younger family members accumulate super, pay down their debts and before you know it, retirement is on the horizon and you have some ready made clients.

As if that wasn’t enough, you’ll also have a whole family singing the praises of their fee savings (and of you, and of your business) to their extended family and friends. That’s bound to lead to a steady stream of new inquiries.

Great instant benefits plus great long term benefits

Capped, aggregated fees is one of the reasons we’re all so enthusiastic about the Pursuit Select platform, and why more and more advisers choose it over any other platform.

Pursuit is the only platform with a totally transparent fee structure, plus explicitly capped AND aggregated administration fees. These features, when combined with our extensive investment menu, great online functionality, and a commitment to service excellence and extensive business support, form a great package that is hard to ignore.

With all these great benefits plus the power of fee aggregation we are convinced that Pursuit Select is unrivalled for families with combined balances of over $500,000.

There’s no reason why you shouldn’t be getting fee aggregation to work for your clients every morning, every day and every week. So why not find out more about Pursuit Select?

Give your IOOF Business Development Manager a call or email today – we’ll be more than happy to answer any questions you have.

You can also call IOOF Adviser Services on 1800 659 634 for any general queries.

And have a look at the brand new Pursuit Select Personal Superannuation Product Disclosure Statement (PDS).

All the best,

Alex

The power of fee aggregation

 Member Relationship Product Account balance Normal fee Fee with aggregation Saving
Mr H Smith Father Pension $450,000 $2,875 $1,865 $1,010
Mrs B Smith Mother Super $230,000 $1,665 $953 $712
Mr B Smith Son Investment $65,000 $618 $269 $348
Miss M Smith Daughter Super $15,000 $360 $62 $298

Totals

$760,000 $5,518 $3,150 $2,368
Pursuit Select fee aggregation allows you to aggregate up to four accounts for administration fee purposes, and is available to immediate family members and same-sex couples. Once the aggregated balance exceeds $500,000 the fee cap (of $3,150) applies, and the whole family starts to save.