Advisers overdue for a pay rise
New Zealand financial planning and investment advisers who charge an hourly rate are asking, on average, $250 to $300 an hour from their clients.
Others charge a fee based on a percentage of assets under management (AUM), of between 0.5 per cent and 1 per cent. Many operate a hybrid structure.
Institute of Financial Advisers chief executive Fred Dodds said it was likely that those who charged an hourly rate were making less overall than advisers charging a percentage of AUM.
The $250 an hour rate is similar to the pay for a relatively junior barrister at most law firms and about twice what a locum GP would be paid. Law firms charge out their staff at a higher rate again.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[Weekly Wrap] Research shows KiwiSaver is a key issue in the election; GRTV Special looks at what's on offer.](https://goodreturns.publit.io/file/c_fill,w_300,h_200/36b7de93-7b53-4a06-855a-4a8f4009a280.webp)
