Setting up Fee Types

Fee Types can be setup for Initial, Ongoing, Adhoc and Withdrawal Fees and linked at a Product level.

Fees can then be overridden on an Instrument, Financial Adviser and on a Contract level, and in the case of initial and withdrawal fees on an instruction level.

Fees can be shared between accounts/entities. See Link

From the Main Menu select (1)System and then (2)Fee Types

A list of existing Fees will be displayed, to add a new Fee select the (1)Add Button.

Note: Duplicate Fee labels will be rejected when editing the Feel label of an existing Fee type, or creating a new Fee Type.

The setup for Ongoing Fees and Withdrawal Fees differs slightly as indicated below depending on the Fee Type selected in the drop-down:

Ongoing Fees

The following fields need to be set:

• Transaction label
• Label used on screen
• Fee Type
• * Fee Calculation Method
• Default rate
• ** Is Ongoing Administration Fee

Select the Save button to save the newly created Fee

* Fee Calculation Method

1. General Fee Calculation Method

Works fee out as per the setting on an investor account ( (calculate fees per instrument / total market value of the portfolio)

2. Administration Fee Calculation Method

Works the same as the General Fee Calculation Method, in addition, it is linked to the ‘Annual platform discount’ as can be set on an instrument.

Refer to Annual platform discount

The discount as stated on an instrument would then apply to the fee type on which it is selected.

** Is Ongoing Administration Fee

This field is used in reports where we want to know which fee is the Ongoing Administration Fee.

Withdrawal Fees

The following fields need to be set:

• Transaction label
• Label used on screen
• Fee Type
• Default rate

Select the Save button to save the newly created Fee

The New Fees will now be reflected on the Fee Type list

Fee Type on Product

Fees can now be linked to Products, refer to Add Fee Type to Product

Last Updated on 2 months ago by Hayley Jerram