Multiple Initial fees
Multiple initial fee types are setup as with multiple ongoing fee types. See Add ongoing fee Types
An additional ‘Fee Calculation Method’ has been added to initial fee types, ‘Initial Priced in Fee Calculation Method’,
Where there are more than one initial fee (beside Initial Adviser fees), the option is available to use the priority set on the initial fee types to decreases the amount to calculate the fee on with the previous priorities initial fees. Where the priority on all the initials fee types is set to be the same, all initial fees will be calculated on the Investment amount.
A. Fee type setup:
- Different priorities
- Fee calculated on the remainder from previous fee
| 1000,00 | Investment amount | |||||
| Take fees priority 1 | Initial fee A | Initial Priced in Fee Calculation Method | 2% | 19,61 | Not priced in method would result in 20 | |
| 980,39 | ||||||
| Take fees priority 2 | Initial fee B | Initial Admin Fee Calculation Method | 3,00% | 29,41 | ||
| 950,98 | ||||||
| Take fees priority 3 | Initial fee C | Initial Admin Fee Calculation Method | 1,50% | 14,26 | ||
| 936,72 | Amount available to invest |
B. Fee type setup:
- Same priorities
- Fee calculated on the initial Investment amount
| 1000,00 | Investment amount | |||||
| Take fees priority 10 | Initial fee A | Initial Priced in Fee Calculation Method | 2% | 19,61 | Not priced in method would result in 20 | |
| 980,39 | ||||||
| Take fees priority 10 | Initial fee B | Initial Admin Fee Calculation Method | 3,00% | 30,00 | ||
| 950,39 | ||||||
| Take fees priority 10 | Initial fee C | Initial Admin Fee Calculation Method | 1,50% | 15,00 | ||
| 935,39 | Amount available to invest |
See calculation in Initial-fee-calculation
The same principals as with ongoing fees apply to the additional initial fees regarding product setup, override and sharing.
Last Updated on 3 years ago by Tinus Burger