What are the FinClear fees and how much commission do I receive?

All FinClear fees are outlined in your Intermediary Services Agreement (ISA).  This includes execution and clearing fees as well as other anciliiary fees. 

 

The brokerage that is charged to clients for buy/sell trades is entirely controlled by yourselves as the intermediary either by:
(a) the default brokerage on the client's account or
(b) overriding the brokerage at the time of placing the trade.

The default brokerage is set when you open the account and can be changed at any time in TC Ops > Account Maintenance > Charges.  

Client brokerage schedules are exclusive of GST and should be inclusive of FinClear fees. If nil brokerage is charged to the client, the FinClear fees are not covered by the client and will need to be covered by you as the intermediary as part of the end of month billing process. 

At the end of the month we total up the brokerage we have collected from your clients and deduct our FinClear fees to total the final amount of rebate to be paid to you, or amount to be invoiced to you. A breakdown can be found on your end of month billing pack. 

 

There may also be ancillary fees unrelated to the trades (such as for new accounts) which would be deducted from your commission prior to us paying out the rebate.