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

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
TymeBank CEO Sandile Shabalala quits

TymeBank CEO Sandile Shabalala quits

Shabalala says he wants to spend more time with his family. Bruce Whitfield interviews portfolio manager Kokkie Kooyman (Denker).

Average salary in SA is R6400 per month, but 70% of workers earn less

Average salary in SA is R6400 per month, but 70% of workers earn less

About 29% of workers earn less than the R3500 national minimum wage, says Anish Shivdasani, CEO at Giraffe.

'Elephant in the room is labour law and the labour movement'

'Elephant in the room is labour law and the labour movement'

The Money Show's Bruce Whitfield interviews economists Andrew Levy (Andrew Levy Employment) and Dr Azar Jammine (Econometrix).

Investec gives staff unlimited leave days and freedom to wear what they want

Investec gives staff unlimited leave days and freedom to wear what they want

The bank rewards innovation with substantial bonuses and pays according to output not hours at work, says Lesley-Anne Gatter.

No land, or farming skills? Got R8000? Here’s how to own cattle…

No land, or farming skills? Got R8000? Here’s how to own cattle…

The Money Show’s Bruce Whitfield interviews Ntuthuko Shezi, founder of a company that raises cattle on small investors' behalf.

Popular articles
EFF: Pauli van Wyk and Marianne Thamm are working with Gordhan and Hanekom

EFF: Pauli van Wyk and Marianne Thamm are working with Gordhan and Hanekom

Economic Freedom Fighters Mbuyiseni Ndlozi explains why it banned the Daily Maverick and amaBhungane from attending its events.

Burger King rebrands as Bacon King (but drops 'ham' from the word 'hamburger')

Burger King rebrands as Bacon King (but drops 'ham' from the word 'hamburger')

"They seem to have succumbed to consumer pressure," says branding and advertising expert Andy Rice.

It is sickening what Thabo Mbeki said, callers tell Eusebius

It is sickening what Thabo Mbeki said, callers tell Eusebius

Callers on the open line critique the former president's tribute to Robert Mugabe and say he rewrote history.

'I am proud of Ndlovu Youth Choir's performance on AGT,' says conductor

'I am proud of Ndlovu Youth Choir's performance on AGT,' says conductor

Ralf Schmitt weighs in on the incredible achievement of performing in the finals of America's Got Talent.

[WATCH] Reporter saying dead man 'was unavailable for comment,' goes viral

[WATCH] Reporter saying dead man 'was unavailable for comment,' goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Mzansi's Ndlovu Youth Choir's wows at AGT finale, voting is underway

[WATCH] Mzansi's Ndlovu Youth Choir's wows at AGT finale, voting is underway

South Africa waits with bated breath as the countdown to the winner of America's Got Talent begins.

10 unexpected things that most truly rich people have in common

10 unexpected things that most truly rich people have in common

Personal finance expert Warren Ingram on the money values that those "worth" R40 million or more almost invariably have in common.

Forensic investigator pokes holes in Watson death probe

Forensic investigator pokes holes in Watson death probe

The recent findings of a private pathologist ruled out suicide as the cause of death of the former Bosasa boss.

[WATCH] Man and woman assaulting a motorist goes viral, for the wrong reasons

[WATCH] Man and woman assaulting a motorist goes viral, for the wrong reasons

Khabazela shares tweets and Facebook posts that have gone viral.