Industry Funds Financial Planning (IFFP) has announced it will be capping its fees at $220 an hour for the duration of the current financial year.
The industry funds-backed planning group said the fees cap would apply to all members of industry and public sector funds using the IFFP service.
Commenting on the move, IFFP general manager David Haynes said the 2008-09 financial year had been very difficult for the group’s funds with members facing another cycle of negative returns.
“The decision to retain our fees at $220 an hour was not taken lightly and is an acknowledgement of the all-round pressures being felt by fund members,” he said.
