To hold a Kernel account, we charge a membership fee of $3 per month.
We deduct this membership fee, in arrears, at the end of each month from your Wallet. If you have joined part way through a month, we may adjust the membership fee we deduct at the end of that month to reflect this.
If you don’t have enough funds in your Wallet when we try to deduct the fee, then we will deduct the amount you owe us when you do. We might make more than one deduction if we can’t cover the membership fee at once.
The membership fee applies to your account when your total portfolio balance is over $1,000 - so if you're just testing the water or building up first investment, you won't be charged the member fee.
Why do we charge this fee?
The member fee covers our fixed administration costs (things like transaction costs, legal & compliance fees) and enables us to lower our investment management fee. This is important because low investment management fees mean more of your portfolio returns are for you, rather than fees.
If you have any questions about fees, contact us.