MyMoney Online, Personal Finance with Warren Ingram, The Money Show with Bruce Whitfield, Life Advice

9 tough questions you should never be afraid to ask your financial advisor

In good times investors don’t seem to care as much as they should about advice fees.

These are not good times; perhaps explaining why all of a sudden Galileo Capital Personal Financial Advisor Warren Ingram is getting more questions about fees than ever.

Even advisors are asking Ingram how to justify their fees to clients who are asking about the value they provide.

Never be afraid to ask your advisor about fees and what they’re doing to earn them.

The Money Show’s Bruce Whitfield asked Ingram to explain what he means.

Ingram gave the following examples of which questions to ask:

  • What are your qualifications and how many years have you been advising people on their money?

  • Can you only recommend products from one company or a range?

  • Do you earn more by recommending some products over others?

  • How do you charge for your services? Do you have different fee options? Is there a maximum amount that you charge?

  • What are my total fees? (They should include all costs. I.e. advice, admin, fund manager, etc.)

  • Are there upfront fees? Why?

  • How much money can I expect to lose in a big stock market crash? How much should I hope to get in the long term? (She or he should be able to provide estimates from the worst to best case scenarios, and everything in between.)

  • Will you invest any of my money in index portfolios? Why not a portion?

  • On what basis do you select funds and fund managers?

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

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : 9 tough questions you should never be afraid to ask your financial advisor


Recommended

by NEWSROOM AI
Read More
TymeBank CEO Sandile Shabalala quits

TymeBank CEO Sandile Shabalala quits

Shabalala says he wants to spend more time with his family. Bruce Whitfield interviews portfolio manager Kokkie Kooyman (Denker).

Average salary in SA is R6400 per month, but 70% of workers earn less

Average salary in SA is R6400 per month, but 70% of workers earn less

About 29% of workers earn less than the R3500 national minimum wage, says Anish Shivdasani, CEO at Giraffe.

'Elephant in the room is labour law and the labour movement'

'Elephant in the room is labour law and the labour movement'

The Money Show's Bruce Whitfield interviews economists Andrew Levy (Andrew Levy Employment) and Dr Azar Jammine (Econometrix).

Investec gives staff unlimited leave days and freedom to wear what they want

Investec gives staff unlimited leave days and freedom to wear what they want

The bank rewards innovation with substantial bonuses and pays according to output not hours at work, says Lesley-Anne Gatter.

No land, or farming skills? Got R8000? Here’s how to own cattle…

No land, or farming skills? Got R8000? Here’s how to own cattle…

The Money Show’s Bruce Whitfield interviews Ntuthuko Shezi, founder of a company that raises cattle on small investors' behalf.

Popular articles
Impact of new debt-relief bill will be 'severe'

Impact of new debt-relief bill will be 'severe'

The National Credit Amendment Bill aims to help indebted consumers earning less that R7,500 per month, restructure their debt.

Ramaphosa seems to be clueless now - Sikonathi Mantshantsha

Ramaphosa seems to be clueless now - Sikonathi Mantshantsha

Daily Maverick's Mantshantsha says the country has been waiting a long time for the economy to be turned around.

'The comedy of errors shows Mkhwebane serving Absa a subpoena intended for FNB'

'The comedy of errors shows Mkhwebane serving Absa a subpoena intended for FNB'

Mail & Guardian investigative editor Thanduxolo Jika unpacks the Public Protector's legal battles.

Clamp down on unregistered 'security guards' near Woodstock's Old Biscuit Mill

Clamp down on unregistered 'security guards' near Woodstock's Old Biscuit Mill

Joint law enforcement operation after visitors in Cape Town complained of being coerced into paying R50 to park on the street.

[WATCH] 'I'm not trying to justify what she did,' Zephany Nurse in her own words

[WATCH] 'I'm not trying to justify what she did,' Zephany Nurse in her own words

Stolen from her mother's bedside as a newborn 22 years ago, Zephany or Miché Solomon as she is now known, tells her story.

Tributes pour in for 'approachable but private' design icon Carrol Boyes

Tributes pour in for 'approachable but private' design icon Carrol Boyes

The designer and businesswoman passed away on Wednesday night following a brief illness, her company confirmed.

SA announces visa waivers for four counties

SA announces visa waivers for four counties

Home Affairs Minister Aaron Motsoaledi says Qatar has also relaxed entry requirements for SA citizens.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.