Normal
Can you clarify what you mean here? When shopping for quotes from accountants I found a huge variation: some simply charged % of fund value, regardless of activity, so you could have a client with $3 million mostly in cash, plus a couple of long term holds of say BHP, CBA, no trades, who could be charged 1% or more. That would be a ridiculously high bill for minimal work.At the other end of the scale quite small balance but large number of trades, therefore more work for the accountant, and charged on an hourly basis.Mine also.
Can you clarify what you mean here? When shopping for quotes from accountants I found a huge variation: some simply charged % of fund value, regardless of activity, so you could have a client with $3 million mostly in cash, plus a couple of long term holds of say BHP, CBA, no trades, who could be charged 1% or more. That would be a ridiculously high bill for minimal work.
At the other end of the scale quite small balance but large number of trades, therefore more work for the accountant, and charged on an hourly basis.
Mine also.
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