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.
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:
This article first appeared on 702 : 9 tough questions you should never be afraid to ask your financial advisor
Pent-up demand, excess supply and record low interest rates are fuelling the unforeseen recovery, says Siphamandla Mkhwanazi.Read More
The bank is one of only six in the world to be recognised in this way for outstanding performance during the global health crisis.Read More
Everything is done electronically – you never have to leave your home, says Mortgage Me’s Andrea Tucker.Read More
[EXPLAINED] The Money Show’s Bruce Whitfield interviews Craig Wilson, Editor at Stuff Magazine.Read More
Shoprite is exiting the oil-rich but spending-money-poor nation. Bruce Whitfield interviews Dianna Games (Africa At Work).Read More
The Money Show’s Bruce Whitfield interviews Natascha Viljoen, CEO at Amplats.Read More
It still argues that the lockdown, not the pandemic, is responsible for its clients’ losses. Bruce Whitfield interviews its CEO.Read More
As widely expected, Sarb Governor Lesetja Kganyago announced a repo rate cut of 25 basis points on Thursday.Read More
"Consumers who are in debt have received a huge bonanza," says Econometrix Chief Economist Dr Azar Jammine.Read More
"This case shows rogue officials at Sars that the courts protect taxpayers," says tax attorney Jean-Louis Nel (Tax Consulting SA).Read More
Bruce Whitfield and personal finance expert Warren Ingram get to grips with why perhaps you shouldn't, if you didn't...Read More
On The Money Show, finance expert Warren Ingram explains why he believes the pros of the regulation outweigh the cons.Read More
Need the inspiration to save? The Money Show’s Bruce Whitfield interviews “Supersaver Julia” at around 7:15 pm tonight.Read More
Personal financial adviser Warren Ingram says active fund managers in South Africa have had a terrible time.Read More
Warren Ingram, wealth creator, answers listeners' questions about safe investing in anxious times.Read More
Did you know that the Trustees of retirement funds don’t have to pay it out to your nominated beneficiary?Read More
What is the concept of "market timing" and how can it help investors?Read More
The Covid-19 pandemic and the economic destruction in its wake has left some of us wondering if we'll ever be able to retire.Read More
Personal finance expert Warren Ingram shares his concerns and offers a few pointers.Read More
Personal finance guru Warren Ingram on why you should consider this risk-free investment, especially if you live off interest.Read More
The Money Show's Bruce Whitfield chats to Opportune Investments fund manager Chris Logan.Read More
The Money Show’s Bruce Whitfield chats to CEO Jacques Celliers on the impact the day had on South African bankers.Read More
Bruce Whitfield interviews Sipho Hotstix Mabuse about his attitude toward money (hopes and fears, successes and failures, etc.).Read More
You only live once — personal finance guru Warren Ingram on divvying up your income if you're not the budgeting type.Read More
Small business guru Pavlo Phitidis shares shocking anecdotes and advises business owners on how to address this challenge.Read More
The Money Show's Bruce Whitfield interviews Daniel Baines, author of "How to Get a Sars Refund for Small Businesses".Read More
Bruce Whitfield interviews Jeremy Mansfield about his attitude to money (hopes and fears, successes and failures, etc.).Read More
Justice Albie Sachs talks about his attitude to money (hopes and fears, successes and failures, etc.).Read More
Bruce Whitfield interviews rapper Riky Rick about his attitude toward money (hopes and fears, successes and failures, etc.).Read More
Hanru Reyneke is on a mission to disrupt the used-car industry in South Africa by providing peace of mind to punchdrunk consumers.Read More
Christelle Colman of Old Mutual Insure explains personal home insurance policies and how to ensure you are covered.Read More
Certified Financial Planner Paul Roelofse on what Warren Buffett ("The Greatest Investor Ever") has to teach us, right now.Read More
Africa Check's Caley Clifford and Naphtali Khumalo share five red flags to watch out for.Read More
It's Savings Month and parenting expert Nikki Bush has valuable advice on teaching your child about money from a young age.Read More
Business and executive coach Dawn Klatzko says one of the things you need in your survival tactics is to practise diplomacy.Read More
Law says if a traditional healer is part of medical council with a registered number he or she can write a medical certificate.Read More
Consultant and coach Anja Van Beek shares advice on what should go into your curriculum vitae.Read More
Certified financial planner Kirsty Scully shares her advice on teaching children about the value of money.Read More
Consumer journalist Wendy Knowler examines buyers' rights and the just-released Banking Services Ombudsman's report.Read More
The Money Show's Bruce Whitfield interviews Chris Sloane, author of “Use Some Common Cents to Build Financial Independence”.Read More