In a statement, Netwealth said $2.1 million in fees were returned to clients in the last financial year and this figure is expected to “significantly increase in line with current growth”.
The rebates are designed to reduce client fees across the netwealth product range, according to the statement.
Netwealth executive director Matt Heine said he was happy with the success of the scheme.
“We are pleased to be able to reward our clients and reduce their fees via these fee smart initiatives,” he said.
These initiatives include ‘Family Fee Linking’, which allows fees on family accounts to be aggregated, and ‘Investor Rewards’ to recognise clients investing in a large range of funds, according to the statement.
In future, Netwealth will also be offering a reduction in their international share service fee, the statement said.
