If you have any questions that are not answered in the FAQ’s or would like more
information, please contact us online, via email, or
call YourShare on 1300 554 774 today. Our trained staff are happy to answer your
questions.
Q: What happens when YourShare receives the Nomination form?
A: YourShare will send you an email confirming the forms have been received, and
will start to work with your financial institutions to update your nominated broker
details to YourShare. Once your financial institutions have registered YourShare
as your broker and your managed investment entry fees and initial commissions have
been reduced, YourShare will send you an email to confirm that your Broker details
have been update and advising you of your log in and password, so you can view your
account and contact details. Each year thereafter you will receive a cheque for
YourShare of the trailing fees and commissions generated as a result of your investments
and financial products.
Q: Will completing the Broker Nomination form affect my Financial Products ?
A: No, not at all. All you are doing is appointing YourShare to be your nominated
broker, authorising us to collect the trailing fees and commissions generated as
a result of your financial products. You do not have to sell and re-buy your investments,
YourShare have no control over your investments, your fund manager(s) are not affected:
everything remains the same. The only change will be that by nominating YourShare
as your fund broker you will stop paying any further entry fees and now receive
YourShare of the ongoing fees and commissions generated by your investments every
year.
Q: I have income from my Allocated Pension being deposited to my bank account every
week. Will this be affected in any way?
A: No. Nothing will change, your investments are not affected in any way. Except
you will now receive a yearly Cash-Back cheque from YourShare.
Q: How are the Cash-Back amounts paid? And how will I be sure I have been paid correctly?
A: From day 1 you will stop paying entry fees and initial commissions. Plus each
year YourShare send a cheque payable to you for YourShare of the ongoing trailing
fees and commissions generated as a result of your investments. You will also receive
a statement reconciling the amounts paid across all your financial products. This
way you can be confidant that you have received the correct Cash-Back amount and
all your funds are benefiting from the YourShare service.
Q: What is a trailing commission?
A: Trailing fees and commissions are not well known or understood and can have a
significant impact on your wealth creation. "Trailing commissions" are yearly commissions
which are paid to the body that introduced you to your financial institutions, or
that your nominate. Typically this is your broker, financial adviser or fund supermarket.
These payments are made even where you have gone directly to the fund manager. Trailing
commissions are unavoidable and where no introducer is recorded on your investments
these payments are retained by the fund manager. These fees typically range between
0.2% and 1.1% per annum of the total value of your investments. These fees are paid
every year for the life of your investment. Per Choice magazine - Trail commissions
– October 2005 “Millions of dollars per year are paid by fund managers to financial
planners and discount brokers in the form of ongoing commissions, known as trails
or adviser service fees. These commissions are paid out of the money you invest.
They’re supposedly for ongoing service but in many cases the planner doesn’t provide
any ongoing investment review or advice”
Q: What does YourShare charge for this service?
A: YourShare is a managed fund supermarket dealing in all financial products. YourShare
rebates 100% of all entry fees and initial commissions. YourShare charges a % of
the annual trailing fees and commissions collected on your behalf for administering
the Yearly Cash-Back service. The % charged depends on the total amount of the Trailing
fees and commissions collected for you. You will receive 50% of the first $590 of
trail collected, plus you receive 100% above $590.
Q: How do I know if my investments pay a trailing commission?
A: The majority of financial products pay trailing fees and commissions every year
to the body that introduced you to their financial product. [Where no introducer
is known these fees are retained by the fund manager]. You could either call the
financial institution directly, do a thorough review of the fund prospectus (a common
term used for these fees is Adviser Remuneration), or contact
YourShare directly to determine how much trail commission could be being
paid on your financial products now.
Q: Which fund managers and financial institutions participate with YourShare to
refund commissions?
A: All financial institutions paying a trailing or ongoing commission will participate
in the YourShare Yearly Cash-Back service. Some other firms limit their members
to specific fund managers. YourShare does not.
Q: If I have bought my investments directly from the fund manager, can I still receive
these commissions back?
A: Yes definitely. Trailing commissions are retained by the fund manager(s) where
no introducer is recorded on your account. Once you nominate YourShare as your fund
broker YourShare will start collecting the trailing commissions and rebating YourShare
to you.
Q: If I download a new investment PDS from YourShare, what entry fees do I pay?
A: YourShare is a discount fund supermarket, and rebates 100% of all entry fees
and initial commissions on new investments (this can be up to 6% on the initial
investment amount, and any ongoing contributions). The entry fee will not be returned
as cash but as additional units in the investment that you are applying for. All
new investments also participate in the YourShare Yearly Cash-Back service.
Q: Where do I send the application and who should I make the cheque out to?
A: All new applications should be sent to YourShare Financial Services Pty Ltd,
Application Forms Department, Reply Paid 394, Sydney, NSW, 2001. Attach a cheque
or other payment details as specified. (Please ensure you attach all customer identification
documents as requested by the fund manager. And all payments are made out to the
fund manager and not to YourShare) YourShare will check the application and apply
the YourShare dealer stamp, which notifies fund managers that you are a YourShare
client and that you are to receive 100% rebate of all entry fees and initial commissions,
and that you will participate in the YourShare Yearly Cash-Back service.
Q: Is YourShare affiliated with only certain Fund Managers?
A: No. YourShare is completely independent and offers all products available. If
you can not locate the financial product you are interested in on the YourShare
Find-a-fund page, Contact YourShare and we will get
the Fund Prospectus (PDS) to you within 24 hours, and ensure it is added to the
YourShare available funds list. Many planners are associated with certain Fund Managers
only and therefore can not offer you all funds available.
Q: What is the difference between Entry Fee and Nil Entry Fee Managed funds?
A: When completing a fund PDS application document you may come across two different
entry fee options. • Nil Entry Fee option – means that there is no entry fee charged.
However the fund manager may adjust the management fee (MER) higher to compensate.
• Entry Fee option – means that generally an entry fee of about 5% will be taken
out of an investor’s initial investment amount, as well as any subsequent further
contributions. The 5% is usually passed on to the financial adviser, intermediary
or kept by the fund manager. You should select the Entry fee option, and allow YourShare
to rebate 100% of the entry fees as additional units in your chosen fund. This way
you will effectively receive nil entry fees and ensure you are charged the lower
MER on your investments for as long as you hold them.
Q: I have a self managed superfund (SMSF) and I do all my investing myself, either
directly with the Fund Managers, through a Master Trust, and sometimes I use an
online fund supermarket as it can save me the entry fees. Can I Nominate YourShare,
and participate in the Yearly Cash-Back service?
A: Yes, definitely. Once the Nomination form is received, YourShare are able to
start collecting the trailing commissions and rebate YourShare to you every year.
YourShare is also a managed fund supermarket, for all new investments YourShare
rebates 100% entry fees too!
Q: If I am receiving an allocated pension, can I use the YourShare service ?
A: Yes, YourShare works with all forms of financial products.
Q: Can I share in the Yearly Cash-Back service offered by YourShare on my 9% compulsory
superannuation?
A: Yes, for the majority of funds we are able to collect and rebate YourShare of
the trailing commissions. If you are unsure whether your fund applies,
contact YourShare today, and our friendly staff will advise.
Q: I have some funds in a Master Trust / Wrap account. If I nominate YourShare,
does this affect any of the services I receive from the Master Trusts / Wrap provider?
A: Everything remains the same. Your Master Trust / Wrap provider will still provide
you with the same service for the same cost. However, now YourShare will be your
nominated broker and send you a Cash-Back cheque every year.
Q: Who is YourShare?
A: YourShare is an Australian owned, licenced Fund Supermarket
specialising in commission Cash-Back. YourShare rebates 100% of
entry fees on new investments / further contributions, and
YourShare of trail fees and commissions currently paid to others
annually. YourShare is regulated by ASIC (Australian Securities
and Investment Commission). For more information on our company
you can contact YourShare directly or call YourShare on 1300 554
774. Alternatively you can contact ASIC on 1300 300 630, or
search the ASIC database at
www.search.asic.gov.au/fsr/far.html.
Q: What licences does YourShare need to hold?
A: YourShare is a non-advisory service. YourShare holds an ASIC Authorised Representative
licence # 309028, with the following classes attached to the licence: • Provide
general financial product advice only • Deal in financial products • Issue, apply
for, acquire, vary or dispose of financial products
Q. Is YourShare's service right for everyone?
A. Our service is designed for people like us. That is, individuals who want to
make their own financial decisions. YourShare does not offer advice. We do provide
impartial information about financial products. YourShare also have affiliated Fee-for-Service
Advisers and Accountants that you can request contact from via the
Contacts page on the YourShare website.
Q: Why does YourShare offer a no advice service?
A: We believe that there are many smart investors out there who just need the tools
to help them make their own financial decisions. YourShare can offer you Cash-Back
on the fees and commissions to make you even more money on your investments and
financial products.
Q: As YourShare offers no financial advice or investment recommendations, why must
I confirm reading of the YourShare Financial Services Guide?
A: YourShare is regulated by ASIC and must obey the guidelines and rules laid down
to all financial institutions. Confirmation of the reading the YourShare Financial
Services Guide is important to ensure all our valued members are aware of the services
YourShare provides.
Q: How is YourShare able to offer these services?
A: To be able to collect the trailing fees and commissions you need to be licenced
with ASIC. Here at YourShare we are devoting ourselves to looking for products with
associated commissions that do not add value for the client. It is our idea to make
these additional fees / commissions as transparent as possible. As we do not offer
advice, we do not have the expenses and overheads of financial advisers. With our
systems and processes we are able to effectively process more clients and subsequently
offer a great service at a reduced cost to you.
Q: What do I do if I have forgotten my password?
A: Simply contact YourShare via the Contacts page or
the icon on the sign in page. We will then email your password to your current email
address. If you want to change your password, simply go to the
My Details page and update your password details.
Q: How do I update my address and other details?
A: Simply log in to the members section and select "update My Details" to change
any details as required.
Q: How does YourShare know that I have referred a friend?
A: Referrals can be done in two ways: either online via the
YourShare Referrals page of this website, or by passing a Fund
Broker Nomination form to your friends and colleagues. When you refer
online, YourShare automatically match your details with the referred. When you refer
by passing on the form, please ensure your name and client code are included under
the Referrer section at the base of the Fund Broker Nomination form.
Q: Can I refer my employer with regards to our Company’s 9% Compulsory Superannuation.
A: Yes you can!
Q: Can I refer friends, even if I don’t have any Managed funds, Superannuation,
Pensions or Master Trust / Wrap accounts myself?
A: Yes you can refer your friends, family and company super. However most people
(except children) have either Personal Superannuation, 9% Compulsory Superannuation
or Pensions. There are very few people that the YourShare service wouldn't work
for.
Q: What's the catch?
A: We hate to say it, but there isn’t one. Each year fees and commissions are being
paid regardless of whether you invest in Managed Funds, Superannuation, Pension
funds, Master Trusts / Wrap accounts, Margin Loans or Insurance Policies. These
fees are paid regardless of whether you invest directly with the Fund Manager, via
a Financial Adviser, or through an online fund broker. These are your investments,
why shouldn’t you get your share of these yearly fees and commissions? Per Paul
Clitheroe Sunday Mail 5th July 2009 It's a no-brainer, finance expert Paul Clitheroe
said. "The reason YourShare won our best rebate service for Money magazine is that
there's no downside. You're still in control of your investments, and even if they
go broke you'll lose what you weren't getting in the first place. There are hundreds
of thousands of Australians paying trailing commissions and getting no advice".
Q: What should I do if I have a query?
A: At YourShare we are always happy to answer your queries. Either: