Back in June I applied online for a $50,000 investment in Macquarie Equinox Select Opportunities Fund - a "fund of hedge funds". I used a Macquarie Structured Product Investment Loan for 100% of the investment amount so I'd be able to take a tax deduction for prepayment of the 06/07 interest. As it was near the end of the Australian tax year I had to do the application online, and I nominated my usual "no advice" Finacial Advisor Service as the financial advisor, so that I'd get a rebate for most of the Funds "entry fee".
Because I hadn't received a rebate cheque by October I contacted the Financial Advisor service to check that they'd received the fee from Macquarie - it turned out that Macquarie allegedly had no record of my advisor details (although I had a print out of my application so I knew I'd provided the correct info), but kindly would update the records and pay the advisor fee if I emailed them confirmation.
Well, today a rebate cheque for $1,200 finally arrived from the advisor, so it was well worth nominated an "advisor" on my application that rebates Fund entry fees! One funny thing about this whole business is that despite the entry fee being deducted from applications, the unit price listed for this Fund has never dropped much below the $1.00 per unit application price. Go figure.