The Personal Finance series with Warren Ingram

How fees cut into your investments (and how to determine if yours are any good)

A regular saver who reduces the charges in his retirement account from 2.5% of assets each year to 0.5% of assets would receive a benefit 60% greater at retirement after 40 years.

National Treasury

The Money Show’s Bruce Whitfield interviewed Galileo Capital Personal Financial Advisor Warren Ingram for his weekly personal finance feature.

Ingram spoke about fees and investment costs.

He touched on what to consider before you decide to invest.

Ingram also gave advice on what information you should get from your fund manager in order to determine if the investments you do have are any good.

Some other aspects of the discussion:

  • Investors are often disappointed with the growth of an old retirement annuity (RA) or endowment when it matures. It may be that the asset allocation (shares, property, bonds, cash, etc.) is unsuitable (e.g. a very low risk fund is inappropriate if your investment has, for example, 20 years to run).

  • Consider the fees. (E.g. do you buy an RA from an insurance company and it then invests in a unit trust provided by another company? Fees are layered in this instance. Why not go directly to the unit trust manager for an RA?)

  • Understanding upfront fees, exit fees, policy fees and annual advice fees.

For more detail; listen to the interview in the audio below.

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