Fee Only Investment Advisers
Different strokes for different folks is not just a phrase, it’s an article of faith for us. All our services are specifically tailored for each client depending on their needs and risk/resources profile. We use our expertise across investments, tax, regulatory requirements to provide a comprehensive bouquet of services to our clients. We give our clients the confidence that they are likely to achieve the goals set out for themselves. This allows them to enjoy the financial journey rather than simply focus on the destination. We enable our clients to stop and smell the roses!!
Our Fee Structure
|Period for which Payable||For First 3 months||Month 4 to Month 12 (for the next 9 months)||Month 13 to Month 36 (for the next 2 years)||Month 37 onwards (after 3 years)|
|Chargeable AUA||Estimated Based on data provided by client||Actual AUA||Actual AUA||Actual AUA|
|Where AUA is below Rs. 5 Crore||1.50% p.a. of the AUA||1.50% p.a. of the AUA||1.25% p.a. of the AUA||1% of the AUA|
|Where AUA is below Rs. 10 Crore||1% p.a. of the AUA||1% p.a. of the AUA||0.75% p.a. of AUA||0.75% of the AUA|
|Where AUA exceed Rs. 10 Crore||0.50% of the AUA that exceeds Rs. 10 crores. On AUA upto Rs.10 Crores the normal fee is payable|
|Fee Payment||Payable in advance for first 3 months||Payable every month||Payable every month||Payable every month|
Illustration of Fees:
If we enter into the contract on April 1, 2023:
|Period||For April 2023 to June 2023 (For First 3 Months)||For July 2023 to March 2024 (For the Next 9 Months)||For April 2024 till March 2026 (For the next 2 years)||From April 2026 onwards (After 3 years)|
|Chargeable AUA||Estimated Based on data provided by client||Actual AUA||Actual AUA||Actual AUA|
|Chargeable AUA||₹ 2,00,00,000||₹ 2,00,00,000||₹ 2,00,00,000||₹ 2,00,00,000|
|Fee Rate||1.5% p.a. of Assets under advise payable for the quarter in advance||1.5% p.a. of Assets under advise payable monthly in arrears||1.25% p.a. of Assets under advise payable monthly in arrears||1% p.a. of Assets under advise payable monthly in arrears|
|Fee Payable||₹ 75,000 for the quarter||₹ 25,000 p.m.||₹ 20,833 p.m.||₹ 16,667 p.m.|
|GST @ 18%||₹ 13,500 for the quarter||₹ 4,500 p.m.||₹ 3,750 p.m.||₹ 3,000 p.m.|
|Total Fee payable||₹ 88,500 for the quarter payable in advance||₹ 29,500 p.m.||₹ 24,583 p.m.||₹ 19,667 p.m.|
Fee Structure for Retired Investors available on request
Our charges for tax consulting and planning vary depending on the complexities of the case.
Scope of Work for generalised services related to filing of Tax Return
- Preparation of Annual income tax returns and assistance in filing your tax returns.
- Cross Check HRA calculations with rent agreements/bank statements and TDS deducted by client from rent paid to landlord.
- Calculate Income from house property for 2 properties
- New House property and other first-time details
- Professional income – 50% deduction 44ADA
- Specific review of capital gains tax provisions if applicable in your case
- Capital gains from Mutual Funds
- Bank scrutiny of credit entries upto 2 bank accounts bank statements
- Reconciliation of Annual Information Statement /26AS with Capital gain statement, Bank statement/Dividend Statement/Interest Income/ Form 16 / High Value transactions
- Feedback to Tax department on errors in AIS
- Preparation of tax computations considering tax deductions, exemptions, etc as specified in the provisions of Income Tax Act, 1961
- Providing consultancy for tax issues pertaining to this assessment year including tax planning strategies for the current and future assessment years
- Advise on maintaining documents that may be needed for the assessment proceedings.
- Assistance in online filing and verification of income tax return
- Assistance in payment of income tax, if any.
- Advance Tax Calculation – 4 quarters
- Past years carry forward losses data from prior IT returns filed
- Shareholding or directorship in unlisted companies / LLP / partnership firm
- Foreign Assets
- Alternative working between New Tax regime and old tax regime
- Computation of income and assistance in filing return
- Reporting of personal assets and liabilities if income is more than 50 lakhs
Fees for assistance in filing of income tax returns start from Rs. 23,600/- (including GST)
Why Fee Only Approach
At Fee Only, it is more than just hiring wealth or financial experts. It is the kind of long-term partnerships that promise transparency and delivers satisfaction. As team of seasoned financial experts and advisors it is our fiduciary responsibility to act in your best interests with unwavering passion and complete dedication. Hence, we work on fee only basis.
The Fee-Only approach, allows us not to get driven by commissions, targets or other selling philosophies – which are industry norms. Instead, it incentivises us to handle your wealth from a purely advisory standpoint and in your best interest. It helps us to give unbiased product recommendations to you, which will always be in line with achieving your objectives. This enables us to be truly walking alongside you, hand-in-hand.
Fee Only Edge
We live up to our name, literally. With a fee-only compensation model in place, we have no incentive to favour a service or product. Commission-based advisors can leave you second-guessing your decisions every step of the way, questioning their advice and motives. We identify financial solutions and products (or services) that will align with your goals, with no strings attached.
Being in a relationship based on trust, we take our fiduciary responsibilities seriously. As a SEBI registered investment advisor, when a client comes on board, we take a personal interest in ensuring that our clients’ resources are efficiently managed. By understanding our client’s goals, psyche and aspirations, we devise plans that will play to the strengths of their wealth all while working on solutions to avoid fees and commissions helping you navigate the financial landscape with ease.
360 Degrees Financial Solutions
Financial management can offer its own share of complications that could be unique to your situation; which is why utilising a one-size-fits-all approach may not be effective. Thus, we have developed a wide range of integrated wealth management solutions designed to help you make the most of your available
resources. Basically, a one-stop-shop for financial solutions.
Our integrated solutions includes:
- Financial Planning
- Investment Management
- Asset Allocation
- Risk Management and monitoring
- Cash Management
- Wealth Transfer
- Philanthropy Planning
- Charitable Planning
- Tax Advisory
- NRI Tax Advisory/Cross country Tax advisory
- Assistance in Filing Income Tax returns
- Remittance assistance for NRIs
Our Advisory Philosophy
As investment advisors who look out for the best interest of their clients, (as a part of our Fiduciary Responsibility) here are some of the guiding principles of our investment advisory practice:
- Answering the question on what percentage to invest in domestic equity, debt, international equity, real estate & gold has a far larger implication on your investment experience rather than identifying the best security in each asset class. Asset allocation trumps security selection.
- We recommend only systematic exposure to volatile asset classes such as equity, international equity or gold.
- Similarly we always recommend a gradual tapering out of volatile asset classes such as equity International equity or gold as the goal nears.
- We recommend simple investment products and stay away from recommending overtly complicated structures.
- We stay in close touch with our clients especially in volatile times to manage their behaviour and keep the plan on track.
- We believe every investor has a different risk appetite, different resources and different goals and hence every financial plan has to be designed to the specific needs of that client.
- We believe if we do not deliver constant value to our clients, the engagement will eventually cease to exist. Serving our clients interest is in our best interest.
Who Are Our Clients
Salaried individuals and professionals having investments of Rs. 2 crores (or more) OR an investible amount exceeding Rs. 3 lakhs per month are likely to get the best benefit from our services.
At Fee Only, our clientele is as unique as our proposition. We service both resident and NRI clients. We service the jet-setters, the go-getters, individuals that work in middle to senior positions in the corporate world, or those running their own companies/practices. Our clients would typically have an investment of at least Rs. 1 Crore or more (around USD 120,000 or more) or a monthly investible surplus of Rs. 3 lakhs or more.
What We Don’t Do
While we proudly flaunt our never say never attitude, here are a list of things we do not do.
- We do not provide stock tips or recommend day trading in shares.
- We do not recommend investments in specific equity stocks. Whatever equity exposure is recommended is normally in a basket of securities like mutual funds or a carefully curated list of PMS.
- We do not recommend complicated structured products to any of our clients, at whatever level they are. Our analysis is that such products never benefit the investor, but only the manufacturer of such products.
- We do not recommend investment in fancy products like BitCoin, MLM, etc.
- We do not earn a referral fee, commission or brokerage on any investment product or security. Our only sources of revenue is the fees we charge our clients. We offer transparent, unbiased advice.
We do not recommend any investment that promises unrealistic high returns, that simply seem too good to be true.
Starting off as a qualified Chartered Accountant and a tax expert, Harsh has been a serial entrepreneur and has successfully exited from his ventures. His venture-funded startups included Apnaloan.com and Apnapaisa.com.
In 1998 he was responsible for setting up ICICI’s retail lending business from scratch. He is also well known as a finance expert on popular TV channels like ET Now, CNBC, Zee business and writes a fortnightly column “Frankly speaking” in the Business Standard a leading business daily in India. He has authored a book titled “The Complete Home Loan Guide”. He has conducted numerous workshops on taxation and personal finance.
Putting together the best from his illustrious career he has created Fee Only Advisers LLP, his magnum opus. At Fee Only, our comprehensive list of services blends perfectly with a trusting client partnership. After all, you complete the financial metrics.