The Total Cost of Wealth report
Everything the family pays, across every provider, in one place.
Meet the Hartleys (fictional)
Margaret was widowed eight months ago. The family business was sold in 2024, leaving about $82m across eight structures: five companies, a family trust, a unit trust and a super fund. Her private bank wants the portfolio reinvested within 60 days, and she does not know who now holds the family trust’s appointor role.
- MargaretAge 58
Widowed eight months ago (Richard). Sole director of all five companies.
- JamesAge 31
Commercial lawyer, married to Priya, one child.
- SophieAge 27
Ceramic artist, irregular income.
- TomAge 19
Engineering student.
The Total Cost of Wealth report
What it is
An annual report of everything the family pays to have its wealth managed: advice, platform, fund management, performance, transaction, cash and FX costs, row by row and provider by provider. The reporting platform does not capture fees, so we build it from statements, disclosure documents and invoices. We measure, compare and ask; we do not recommend switching to a particular product.
- Total annual cost in dollars and as a share of wealth
- Each provider’s share, and the change from last year
- The costs the family did not know it was paying
- The questions to put to each adviser
How it works
Collect
Statements, disclosure documents and invoices.
Schedule
One row per fee, per provider.
Summarise
Total cost, share of wealth, change on last year.
Ask
Questions put to each adviser.
A worked example, using the Hartley family
Where the Hartleys’ costs sit
Illustrative sampleShare of total annual cost, illustrative. The cash margin was a cost the family had not known it was paying.
The Hartley family is fictional and all figures are illustrative. This material is general information only and is not personal financial, tax or legal advice.
Where it’s usedSee it
EVERY ONGOING RETAINERBuilt once a year for every retainer.
Solve it
HEALTH CHECK · TOTAL WEALTH ASSESSMENT · ADVISER REVIEWThe cost flag and the benchmark.
Run it
PRIVATE OFFICEEvery year, alongside the adviser review.