Many people hesitate to speak with an advisor for a simple reason: it is rarely clear what the actual cost is. Here, we bring the full picture together in one place. Our model is based on net-fee accounts and net-fee funds, a fee calculated based on your assets under management and the type of investment, and a principle whereby third-party compensation is returned to you—the client—instead of being retained by us.
Net accounts and net funds — how the model works in practice
A “net account” is an account where your funds are traded in their net share class—that is, a share class without an embedded commission paid to the distributor. A standard (“gross”) share class often includes a fee that the fund company passes on to the party that distributed the fund. In a net account, that portion is either removed from the fund’s fee or rebated to you. “Net funds” operate on the same principle at the fund level: they are share classes structured so that no third-party compensation is built into the fee. In practical terms, this means you pay for the actual fund management—not for a hidden distribution layer. Two funds can have identical holdings and the same manager yet different total fees, depending on whether you hold the gross or net share class.
How the third-party compensation is returned to you
Third-party compensation—sometimes referred to colloquially as a “kickback”—is a payment made by a product provider (such as a fund company) to the party distributing or advising on the product. The issue is not the exchange of money itself, but rather that this compensation can influence the advice you receive. In our model, the compensation that would otherwise have gone to the intermediary is instead returned to you, the customer. Through partnerships, we offer “net-priced” account solutions where third-party compensation is reinvested into your capital, allowing it to continue working for you year after year. This is one of the clearest points of difference from the traditional structure of the savings market.
How the fee is based on assets under management and investment type
We operate using a transparent, fee-based model rather than relying on hidden commissions. Our advisory fee is based on two factors: the size of the capital we help you structure and the specific type of investment and management arrangement involved. The price is thus determined by the investment type and scope—not the number of transactions. This makes the cost predictable, though it naturally varies depending on the scope of the engagement: ranging from a single pension analysis to broader, ongoing advice covering a combination of private capital, business interests, and pensions. An initial meeting is always free of charge and carries no obligation; you will receive a clear picture of the costs associated with each option before you need to make a decision.
Why this differs from traditional players
With many traditional providers, fees paid by fund companies may be embedded in the product costs rather than being transparent to you as the customer. Consequently, a solution might appear inexpensive at first glance, while a portion of your returns quietly flows to a distribution intermediary. Because we are independent, we do not belong to the same corporate group as the products we recommend. This makes it easier to let your specific situation—rather than an internal product list—drive the selection process. Combined with the fact that third-party fees are returned to you, this model can result in lower effective costs over time; for those with substantial capital and a long-term savings horizon, it stands out as a particularly strong option. Furthermore, the right structure can offer tax advantages depending on your circumstances. Tax treatment depends on individual circumstances and is subject to change.
Do you want to understand exactly what you are paying for today?
For a more in-depth look at the differences between commission-based advice and advice with transparent fees—and what financial advice actually costs—read our article: *What Does Financial Advice Cost? An Honest Overview*. If you want to dig deeper into how net-fee accounts and net-fee funds affect your actual returns, you can find that information here.
Past performance is no guarantee of future returns. Investments in financial instruments involve risk, and you may lose all or part of your invested capital. Tax treatment depends on individual circumstances and is subject to change. Cefund AB is a tied agent of Strivo Värdepappersservice AB—which is supervised by the Swedish Financial Supervisory Authority—and is a registered insurance intermediary.
