Why Tribeca’s advice is worth taking


The top 4 factors why our pricing adds up

How does our pricing compare to other advice firms in the market? It’s a question we continually ask ourselves and review to ensure we’re providing optimum value. We owe it to our clients – and ourselves – to get it right.

It’s not as simple as looking at one price to another. To answer this question fully, you need to consider a range of factors. Here’s our top four.

Flipping the industry trend

Since December 2019 until now the number of advisors in Australia has decreased from 27,000 to 17,000. And the forecast is for another 2,000 advisors to leave the industry by the end of 2022. There’s two key reasons for this:

  1. The costs to provide advice have exploded with industry research indicating a 41% increase in servicing costs in the last three years (due to additional compliance, regulations, consumer protections, and insurance costs).

  2. A significant increase to the minimum education standards required of advisors has forced many to stop providing advice.

From 2019 until now the number of advisors has decreased from 27,000 to 17,000.

The result has seen advice fees increase on average by more than 30% as firms adjust to the extra regulation costs and the rising salaries of employees due to competition for the best advisors and talent.

While Tribeca is certainly not immune to these cost increases, we have flipped the trend within the industry and expanded our advice team from four to eight since 2019.

How have we achieved this? By maximising the value we can offer you through providing quality people and delivering advice that is meaningful and holistic.

Read more about the advisor industry trends

It pays to have quality people

It’s hard to put a price on quality people. We have always taken this approach, as we understand the trust and faith people place in us to help them live their Good Life.

The challenge today is to recruit and retain quality people with the reduced talent pool and increased expectation on salaries. Yes, our fees need to take this into account. But we remain committed to providing leading industry knowledge and expertise as we believe you should expect, and deserve, nothing less.

It’s why all of our advisors have passed the Advisor Standards Exam, with many holding CERTIFIED FINANCIAL PLANNERS® (CFP) status, the highest financial planning designation worldwide. In recent years we’ve also implemented our Diamond Team structure, so every client has the added confidence and security knowing there is an advice team looking after their interests and overall experience.

Like anything in life, you pay for what you get. With Tribeca, you’re not just paying for some of the most highly qualified advisors in the industry to help you live your Good Life. You’re also paying for people who work with respect, honesty, and integrity – qualities we believe should be valued above all else.

Many happy returns

At the end of the day, you want to see a return on the advice fees that you pay. We want that for you too.

On average, our clients receive a benefit of between 4 to 6 times the amount of their ongoing advice fees. This means if your fees amount to $7,000 a year, your projected benefit from following our advice will be between $28,000 to $42,000 a year after our fees and before any tax deduction you could receive on our advice.

How can you trust we’ll deliver on this forecast?

On average, our clients receive a benefit of between 4 to 6 times the amount of their ongoing advice fees.

We apply what we call The Value Factor. Using industry benchmarks and 60+ years of experience from our senior team members, we combine the quantitative factors (like returns, asset growth and tax minimisation strategies) with the qualitative factors (like peace of mind, financial security and confidence) to deliver an accurate estimate of the overall value we can deliver. The Value Factor.

And we do this annually so that every client can have a clear picture of what they can expect for the next year – and what the value of our advice will look like over 10 years.

– Learn more about The Value Factor

My Good Life

It’s important when comparing one pricing option to the next that you’re comparing apples with apples.

When we established Tribeca Financial, our purpose was to deliver financial services in a better way. A way that focused on the person, not the product.

It’s why we developed our philosophy of My Good Life; to create financial plans to meet your specific needs with an emphasis on achieving a strong sense of security and feeling of freedom.

Our pricing is reflective of this holistic approach. It’s not cookie-cutter or product based.

We don’t receive any margin fees from investment products that we use with our clients or kick-backs from portfolio platforms or superannuation funds. We are not aligned with a specific bank, super provider, or life insurer. By Tribeca not having these conflicts, you can be confident that our advice is always in your best interests. It’s why our fees are more than a bank or super fund will charge you (where they want you to stay in their products). And compared to other boutique advice businesses, we have been able to contain our fees in the mid-range and still deliver top-range service.

Our advice is totally centred around enhancing your financial wellbeing – something we’ve been doing for over ten years well before the banks decided to cash-in on the term in their marketing campaigns. We’ve placed tremendous importance on building a team who are exceptional advisors, and exceptional people, so that we can always meet this promise to you.

So when weighing up your pricing options, don’t just look at the fee. Look at everything that sits behind it to gain a true indication that your financial advice is worth it.

That it all adds up to delivering real value.

If you would like to learn more about Tribeca’s pricing structure or would like to discuss any aspect of your financial situation, we’re always ready to chat. Please feel free to talk to your advisor at any time or contact one of our Tribeca Tribe here.

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