CMC Markets advisory fee - Aussie Stock Forums

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  1. #1

    Red face CMC Markets advisory fee

    I want to leave ANZ, but when I investigated CMC stockbroking it has this:
    CMC Markets Stockbroking will charge an Adviser Service Fee (ASF) of 1% per annum however there are no fees charged by BankWest for this account. Interest rates shown are net of the 1% p.a. ASF.

    I rang up to ask about how they calculate this but I didn't get a clear answer. Is it significant? Is it just that you get less actual interest on uninvested funds or is it more? I would appreciate info from CMC users.

  2. #2

    Default Re: CMC Markets advisory fee

    I am concerned as when I am in cash there could be a big balance.

  3. #3

    Default Re: CMC Markets advisory fee

    Basically works out to be 0% interest pa. when everything is taken into account.

  4. #4

    Default Re: CMC Markets advisory fee


  5. #5

    Question Re: CMC Markets advisory fee

    Can you declare this management fee as a tax deduction ? If so how ?

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