Brokerage on listed security transactions
Your nominated broker may charge brokerage on the purchase and sale of approved ASX listed securities.
Brokerage is calculated and payable at the time of each transaction and will be added to the cost, or deducted from the proceeds, of the transaction and is in addition to the transaction costs outlined in the Fees and other costs contained in Part A of this PDS.
When you open your account, MEL is automatically nominated as the online broker authorised to purchase and sell approved ASX listed securities on your account. This is an online execution only service and it is your adviser that you authorise to place these trades. Brokerage will apply on all equity transactions placed online through MEL. For transactions valued up to and including $50,000, the brokerage charged is $31.90. For transactions valued at greater than $50,000 the brokerage charged is 0.33 per cent of the amount transacted. For example, for a trade of $100,000 where the maximum brokerage of 0.33 per cent is charged, MEL will receive $330. Please refer to the MEL Financial Services Guide, available from your adviser, for more details on brokerage rates for online trades.
If you trade approved ASX listed securities via an alternative approved broker, you and your adviser will negotiate the brokerage costs directly with your nominated broker. You should contact these brokers for information on the fees and costs applicable for their service.
Brokerage costs are paid directly to your nominated broker. Brokerage costs are additional costs that you incur only if you transact in approved ASX listed securities.
Part A of the Avenue Retirement Service PDS