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

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:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Workers abandoning the strike are being intimidated – SAA

Workers abandoning the strike are being intimidated – SAA

The SACAA says SAA is safe, despite union claims to the contrary. SAA is taking legal action, says board member Martin Kingston.

3 best JSE shares to buy, right now (by The Robert Group)

3 best JSE shares to buy, right now (by The Robert Group)

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

Karatbars – is it a scam? The case for and against…

Karatbars – is it a scam? The case for and against…

Bruce Whitfield interviews senior Karatbars representatives, a financial advisor and someone who was invited to its conference.

How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

13 tips for saving hundreds (nay, thousands!) of rands each month

13 tips for saving hundreds (nay, thousands!) of rands each month

The economy is toast. Personal finance expert Warren Ingram shares 13 highly effective tips for making ends meet.

How to retire while you’re still young(ish)

How to retire while you’re still young(ish)

If you do things differently, it’s possible stop working far earlier than you ever thought possible, says Warren Ingram.

Popular articles
Earn R4500+ per month by renting out your car to Uber drivers

Earn R4500+ per month by renting out your car to Uber drivers

Flexclub pays you to rent out a car you don’t use to Uber drivers struggling to obtain finance, says cofounder Tinashe Ruzane.

[WATCH] 'Come to my house, I want you to make me pregnant quickly', goes viral

[WATCH] 'Come to my house, I want you to make me pregnant quickly', goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

'Appointing Bathabile Dlamini is Sisulu's act of defiance against the president'

'Appointing Bathabile Dlamini is Sisulu's act of defiance against the president'

Mail & Guardian investigative journalist Sabelo Skiti reflects on the infighting between factions in the ruling party.

RMB Holdings ends SA’s 'most successful entrepreneurial venture in 40 years'

RMB Holdings ends SA’s 'most successful entrepreneurial venture in 40 years'

RMB Holdings will dole out its shares in FirstRand, South Africa’s largest financial institution, says Chris Logan.

We paid before the family arrived with the body – Old Mutual

We paid before the family arrived with the body – Old Mutual

Consumer journalist Wendy Knowler investigates after a poor family’s desperation to get a claim paid made headlines.

[WATCH] Group of people protect heavily pregnant woman after she was assaulted

[WATCH] Group of people protect heavily pregnant woman after she was assaulted

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] SABC reporter heading for danger during looting goes viral

[WATCH] SABC reporter heading for danger during looting goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

4 things you should never say if you want to get rich

4 things you should never say if you want to get rich

Don’t ever say or, worse, believe any of these wealth-destroying platitudes, implores personal finance expert Warren Ingram.