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  • 2 Post By Andy SNK
  • 1 Post By shri
  • 3 Post By chuckster007

Wealth planning fees

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  1. #1

    Wealth planning fees

    I have consulted with a wealth manager (no, I am not wealthy) and he is suggesting a fee of 1-1.5 percent per annum. Is this a reasonable cost?

    Cheers,
    Goldenhair


  2. #2

    Join Date
    Feb 2011
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    How much does he charge if you lose half of your savings? I guess it is more, like 1.5% of your $100 but now since you have $50 it's $1.5 of $50 which is 3%.

    I'm just talking rubbish. Normal is 1% or less. I wouldn't recommend it personally. Plus they only let you buy products that have big commissions already built into them. Then buy sell buy sell each time collecting a commission.


  3. #3

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    I agree with DeletedUser - 1-1.5% is ridiculously high for advice. Quite often the advice will include investing in high load, long commitment funds which will suck another 1-5% out from you as fees (and a large portion of that will be handed to the advisor as commissions).

    There are some that are worth their weight in gold, but they would not be talking to someone who is "not wealthy".

    Sounds like you met one of HK's "independent financial advisors"

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  4. #4

    Join Date
    Oct 2011
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    you earn profit = you pay fee
    you don't earn profit = you still pay fee
    you lost money = you still effin pay fee

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  5. #5

    Join Date
    Oct 2006
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    Quote Originally Posted by goldenhair:
    I have consulted with a wealth manager (no, I am not wealthy) and he is suggesting a fee of 1-1.5 percent per annum. Is this a reasonable cost?

    Cheers,
    Goldenhair
    What sort of wealth planning are we talking about?

    Your investments, drawing up a will, setting a up a trust?

    Bit hard to say, but based on the fact you are being charged a percentage, seems to be making investments for you.

    Do you have to use their platform? Is he selling you a product? Is he choosing investments for you and you making the trades?

    Need to be a bit more specific about what he is offering. Feel free to PM me if need be.

  6. #6

    Join Date
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    Quote Originally Posted by Andy SNK:
    you earn profit = you pay fee
    you don't earn profit = you still pay fee
    you lost money = you still effin pay fee
    someone has to pay for all the HOOKERS and DRUGS lol
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