If you have any form of investment YOU have picked a team.
What do I mean?
Keeping things simple, there are THREE key role-players you probably need, and in many instances already pay for, when managing your financial life.
HINT: Two of them you can’t avoid, the third you can. But should you?
1. Investment Managers – Achieving required returns
Investment products come with fees for asset management.
- Cost: Percentage of assets under management.
- Value: Professional portfolio management.
- Key Tip: Higher fees don’t always mean better returns. Often the opposite is true.
YOU CAN’T AVOID THESE.
2. Platform & Administration – Keeping things Organised
Platforms facilitate investment transactions and reporting.
- Cost: Tiered platform/admin fees.
- Value: Execution, record-keeping, tax reporting.
- Key Tip: Fees vary so make sure it fits your needs.
YOU CAN’T AVOID THESE.
3. Financial Planners – Linking Money & Life
Advice is the most controllable but also possibly valuable aspect of financial planning.
- Cost: Flat fee, hourly rate, or AUM-based.
- Value: Goal prioritization, tax planning, Investment alignment, risk management, estate planning, cashflow management.
- Key Tip: Good advice should simplify things, prevent costly mistakes and create clarity.
YOU CAN AVOID THESE – BUT SHOULD YOU?
If you are one of the many who pay an advice fee but wonder what service you are receiving you should drop your current advisor from YOUR team today.
They are doing it wrong.
If you really want to progress and manage big transitions, then working in a highly personalised way, that gets to the bottom of what you really need help with, requires investment. Both time and financial.
If you have any questions around how I could be of help, take a quick look through my frequently asked questions page HERE
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