AFM Product & Fee update

With a new financial year ahead, AFM are revamping the product suite to make it easier for our brokers to follow.

From Saturday 1st July we will be renaming our Product Suite as follows;

Old Name

New Name

Complete Option / Alliance Option

Advance

Flexible Option

Enhance

Alternate Option

Refresh

Secure Option / Secure Specialist

Breakthrough

A full breakdown of names is attached along with updated product specs and documents.

The renamed rate sheet is being worked on at the moment and we will send through over the coming days.

Previously with the Complete & Alliance options there were two different commission structures. Going forward we will only have the one product 'Advance' with a standard commission structure of 0.70% Upfront & 0.15% Trail.

Should brokers want the different structure, it will be available however they will just need to contact their business manager on a deal by deal basis - this is a very limited amount based on previous settlements.

Please do not put this one in your broker news/communications. We will be sending out marketing to the network next week!

We understand this only gives you a week and a half to get platforms updated so may go past our 1st July release date however as close as possible would be appreciated!

If you require further details, please contact Stevie Munro on stevie@afm.com.au

/clients/vow/downloads/copy_of_afm_products__codes_-_aggregators.xlsx


Please note change in Alternate Prime fee structure.

Settlement fee of $499 now excludes valuation fee of $302.50.

Updated Product Specs attached.

This is effective as of 22 June 2017

/clients/vow/downloads/afm-alternate-prime-full-doc.pdf

/clients/vow/downloads/afm-alternate-prime-alt-doc.pdf