Streaming issues? Report here
Aubrey Masango 2019 BW Aubrey Masango 2019 BW
The Aubrey Masango Show
20:00 - 22:00
volume_up
volume_mute

Up Next: Best of CapeTalk
See full line-up
The Aubrey Masango Show
20:00 - 22:00
Home
arrow_forward
MyMoney Online

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

26 June 2019 6:39 PM

Times are tough. Don’t spare her feelings! You must ask these questions of your advisor, implores Galileo Capital's Warren Ingram.
pixabay.com

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:


26 June 2019 6:39 PM

More from MyMoney Online

absajpg

Absa wins international award for its response to Covid-19

5 August 2020 11:38 AM

The bank is one of only six in the world to be recognised in this way for outstanding performance during the global health crisis.

Share this:
Read More arrow_forward

black-family-house-for-sale-sold-property-household-investment-bond-rent-123rf

Digital mortgage originator Mortgage Me ensures you get the lowest interest rate

4 August 2020 12:59 PM

Everything is done electronically – you never have to leave your home, says Mortgage Me’s Andrea Tucker.

Share this:
Read More arrow_forward

TikTok 123rf 123rfbusiness 123rfworld 123rflifestyle

Microsoft wants to buy TikTok. Donald Trump gives it 45 days to negotiate

3 August 2020 7:23 PM

[EXPLAINED] The Money Show’s Bruce Whitfield interviews Craig Wilson, Editor at Stuff Magazine.

Share this:
Read More arrow_forward

Nigeria flag nigerian 123rf 123rfAfrica 123rfBusiness

Shoprite pulls the plug on Nigeria (pop 206m) – trouble for SA companies abroad?

3 August 2020 6:34 PM

Shoprite is exiting the oil-rich but spending-money-poor nation. Bruce Whitfield interviews Dianna Games (Africa At Work).

Share this:
Read More arrow_forward

Mine mineworker mining gold platinum coal 123rfbusiness 123rf

Resilient Amplats reports rise in earnings (Ebitda), solid balance sheet

27 July 2020 7:06 PM

The Money Show’s Bruce Whitfield interviews Natascha Viljoen, CEO at Amplats.

Share this:
Read More arrow_forward

Covid-19 insurance 123rf 123rfbusiness 123rflifestyle 123rfpersonalfinance

Santam to pay out R1 billion to policyholders in 'business interruption' relief

27 July 2020 6:29 PM

It still argues that the lockdown, not the pandemic, is responsible for its clients’ losses. Bruce Whitfield interviews its CEO.

Share this:
Read More arrow_forward

rands

SA Reserve Bank cuts repo rate to 3.5% - an all-time low

23 July 2020 3:39 PM

As widely expected, Sarb Governor Lesetja Kganyago announced a repo rate cut of 25 basis points on Thursday.

Share this:
Read More arrow_forward

Interest rates rate cut Sarb MPC 123rf 123rfbusiness

Expect another cut in interest rates – already at record-lows – later today

23 July 2020 1:13 PM

"Consumers who are in debt have received a huge bonanza," says Econometrix Chief Economist Dr Azar Jammine.

Share this:
Read More arrow_forward

Sars online tax return revenue service 123rfbusiness 123rfpersonalfinance

Ruling against Sars: 'Taxpayers have the courts on their side'

22 July 2020 3:17 PM

"This case shows rogue officials at Sars that the courts protect taxpayers," says tax attorney Jean-Louis Nel (Tax Consulting SA).

Share this:
Read More arrow_forward

Crisis just ahead dark clouds thunderstorm 123rf 123rfbusiness

'Property prices are falling. Cut rentals to hold on to existing tenants'

21 July 2020 9:31 AM

South Africa has become poorer, says property economist Erwin Rode. If you force a tenant out, who will you replace her with?

Share this:
Read More arrow_forward