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MyMoney Has Been Named One of Australia’s ‘Coolest’ Businesses in Anthill Magazine’s Ninth Annual Cool Company Awards
15/12/2014
MyMoney, a online financial services business enabling self directed investors take control of their investments with the refunding of commissions on superannuation, term deposits and managed funds, has scored a place in the Top 100 Coolest Companies in Australia and Highly Commendable in the Micro Business category of Anthill Magazine’s 2014 Annual Cool Company Awards, a national program developed in 2006 to recognise Australian companies that are doing things differently to bring about positive change. Judging takes into account far more than mere business variables, such as revenue and wealth. There are over 800,000 micro-businesses operating in Australia and it a hard task to stand out from the crowd. The criteria was geared to consider other qualities, from the disruptive nature of the product or service to the culture of the organisation including innovation, entrepreneurship, youthful attitude, reinvention, creativity and the X factor. The eligibility criteria for the Micro Business Award required no more than four (4) full-time employees. The winner has built a market presence that is disproportionate to its relative size, through creative or entrepreneurial means plus the above award criteria. Over 700 aspiring ‘cool companies’ were nominated for the 2014 awards, making ‘The Cools’ one of the largest business awards programs in Australia. “The Cool Company Awards are extremely egalitarian,” said Awards Founder James Tuckerman. “Previous winners have included two-person start-ups, not-for-profit social enterprises, large private companies and publicly-listed corporations.” “Applicants either nominated themselves or were nominated by peers, work colleagues, family, friends and other ‘admirers’. What are Cool Company Awards? The Cool Company Awards was launched in 2006 as a way for Anthill Magazine to publicly acknowledge and celebrate Australian organisations that are doing things differently to bring about positive change. In its eighth year, the awards attracted nominations for over 700 organisations, making it among the largest business award programs in Australia. What is Anthill Magazine? AnthillOnline.com is a digital business magazine that celebrates creativity, inspiration and commercial ingenuity, providing a fresh, exciting and practical perspective on Australian business in a global world. It is among the Top 50 Business & Finance websites in Australia, as ranked by Nielsen Online Ratings, and is home to the Cool Company Awards, the 30under30 and the Smart 100. It’s where ideas and business meet.
Is It Your Money
15/11/2012
Financial advisers, and the financial institutions which they are affiliated with, are helping themselves to your money with your full consent. It’s called trailing commissions. (Sometimes it maybe described as ongoing fees paid on a percentage basis). Many financial productsfrom superannuation, home loans, managed funds, life insurance and investment loans, pay out trailing commissions. These fees and commissions come straight out of your investment portfolio. Do you know how much of your money is being paid out in trailing commissions and unfair fees charged on a percentage basis of your investments and/or loans? The following table is a brief summary of some of the most commonly purchased financial products affected by unfair fees and trailing commissions.
Refund Commission Secrets
31/10/2012
Australians wanting to get back the trail fees deducted from their superannuation, personal insurances, managed funds, cash management trusts and margin lending now have a simple solution. MyMoney – in a few very simple steps – gives consumers who do not want or need advice on their existing financial products the ability to receive refunds on the trail fees they might not even realise they are paying, let alone get access to. Anyone with superannuation, life insurance or managed funds can have these trail fees paid to them immediately by using My Money Australia (www.mymoney.com.au), a major consumer innovation that offers consumers the ability to receive cash refunds on the trail fees they are charged by banks, fund managers and insurance companies. “Consumers do not generally realise that, even if they receive no advice from a financial planner, they are very likely to be still paying trail fees that can’t be switched off,” the Managing Director of MyMoney Australia, Graham Chee, said. How does it work? Put simply, MyMoney gives consumers control over their trail fee payments that they did not have before. “Consumers can, however, take control of these trail fees as long as they go to a holder of an Australian Financial Services Licence,” Chee said. “By simply nominating MyMoney, an AFSL-holder, as your financial adviser, we collect your trail fees and pay them back to you, direct to your bank account. Everything else about your investments remains the same,” he said. Some of the key features of MyMoney that make it so attractive are: • No joining fee • No minimum annual fee • Administration fee automatically comes out of trail fees • Maximum annual fee of $240 per family account Online registration is quick, easy and free, and MyMoney has kept to an absolute minimum the amount of paperwork investors need to complete in order to activate their account. MyMoney clients have 24/7 online access to their refund balance information, and receive a monthly activity statement as well as their monthly direct bank account payments. The service is risk and hassle-free and completely transparent. MyMoney has been built by professionals who are leaders in the development of trail fee management systems and who fully understand the needs and expectations of investors and financial planners when it comes to fees payments. “There is no effect on investors’ existing financial products and the direct monthly payments into our clients’ bank accounts makes MyMoney particularly easy,” Chee said.
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