We may recommend financial products issued by companies within the NAB Group or companies in which a shareholding is maintained by a NAB Group member (including MLC Limited).
These include products and services with the following branding:
NAB, National
MLC
JANA
JB Were
Plum
Pre Select Funds
Private Investment Consulting
WealthHub Securities
Altrinsic Global Advisers
Antares Capital
Fairview Equity Partners
Intermede Investment Partners
Presima Inc
Redpoint Investment Management
If we recommend a product or service issued by a NAB Group company, they will benefit from our recommendation by receiving product and management fees from you as well as fees paid by fund managers to distribute the fund manager’s product. Please refer to the relevant PDS and/or offer documents for further information.
We generally recommend products that are listed on Apogee Financial Planning’s approved product list. These will include NAB Group products. Before any products are added to this list a review process is undertaken and products are required to meet minimum standards. If these products are not appropriate for your circumstances then we may recommend a product outside of this list. At all times, we will ensure that our recommendations are in your best interests.
Apogee Financial Planning maintains relationships with the following insurance providers (AIA, Zurich, CommInsure and One Path) which pay Apogee Financial Planning a licensee commission payment as described in the ‘Commissions received by our Licensee from product providers’ section of this FSG.
NAB and its related bodies corporate distribute insurance products issued by MLC Limited ABN 90 000 000 402. MLC Limited is part of the Nippon Life Insurance Group and not a part of the NAB Group.
MLC Limited will pay National Wealth Management Services Limited, a related body corporate of NAB, a distribution allowance as described in the ‘Distribution Allowance’ section of this FSG. If appropriate to your requirements, objectives and circumstances then a Apogee Financial Planning adviser may recommend a risk insurance policy issued by one of these insurers, or an insurance policy issued by MLC Limited.
Business Equity Valuation (BEV)
In the event of our death or permanent disablement, or if we were to leave the financial planning industry, Apogee Financial Planning provides a buyer of last resort option called BEV. This helps manage the transition of ownership to ensure you continue to receive advice.
The value of a sale under BEV is based on a multiple of ongoing revenue received by the business on an annual basis. The multiple can range from 2.5 to 4 depending on the proportion of the ongoing revenue that comes from clients who hold MLC group financial products.
Here are some examples to help you understand the potential benefit to us of our clients holding MLC group product:
– If the ongoing revenue of the business was $100,000 and 50% of our clients held MLC group products, the sale value for the financial planning business would be between $250,000 and $350,000;
– If the ongoing revenue of the business was $100,000 and 85% of our clients held MLC group products, the sale value for the financial planning business would be up to $400,000;
Importantly, BEV is subject to us meeting certain compliance requirements and standards.