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Taking the plunge to EE or not

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willemm:
I have to admit, its tempting.. The cheap (almost no) fees, the promise of 'greener postures' etc etc

I've tested them out +-3 years ago. Was worried at the time of them being 'newish', and their platform felt literally like a kids shop. So I stuck with Standard bank OST.

Fast forward +-3 years and many monthly admin fees later from OST, I find myself wondering again if I should switch to EE. To be clear, I personally only invest in a TFSA (ETF's) and normal investment account (ETF's) (apart from a RA from Sygnia). So technically there is not much more OST can offer me vs EE as an ETF investor......

EXCEPT comfort - that is something that R100pm (yes, its now R100! pm) can buy me. Why? I'm not sure, I'm in my late 30s and EE's marketing feels like its aimed at the 20 year olds (or teenagers) - you know.. the guy/girl with R100 in their pocket wanting to buy Naspers, etc etc.

I was about to switch to ABSA SBs... Then, adding to the current predicament - my wife and daughter's TFSA is about to get f'n charged for at ABSA Stock brokers. (bankers.... I'll keep it at that), and now new fees being charged on ETF only accounts.

It makes you wonder if these fees from the banks' stock brokers are really worthwhile. In a world full of fraud and corruption, SA inc in corporate audit scandals.. perhaps?

Patrick:
I've been using EE since the start, only switched to ABSA when they launched at lower costs which doesn't hold true anymore. Their service is worlds better than ABSA, and they haven't behaved like the bait and switch scammers ABSA appears to be. I also have the CEOs word in writing that he won't shift the goalposts.

I was actually planning to blog a little about TFSAs this month and how there really is only one provider to use now which is EE.

FYI I sent the forms in to be moved from ABSA to EE about a week ago, no idea how long the move will take.

Hamster:

--- Quote from: Patrick on April 18, 2018, 10:15:57 am ---I was actually planning to blog a little about TFSAs this month and how there really is only one provider to use now which is EE.

--- End quote ---

EE vs. Sygnia's index tracking unit trusts?

Mr_Dividend:
Although I feel that GT247/EE is trustworthy, some funny things have happened over the years that make me feel you need to check regularly that they doing what they meant to be doing - like allocating dividends properly. Their staff frequently seem very ill-equipped.  For those that are looking for a reasonably priced full-service broker - might be worth checking out PSG.

https://www.psg.co.za/wealth/stockbroking/local-shares/how-to-invest#Direct-client-fees

around R35 p/m and R100 min trade - so cheaper than ABSA in both respects PLUS have a few other bells and whistles. That said, have not used them so would be interested to hear from those that do.

For me, the next move will be overseas - so will not be switching to EE from ABSA - but any rebalancing I do, I will move that money over to EE - so will not be buying on ABSA again.

willemm:

--- Quote from: Hamster on April 18, 2018, 10:27:01 am ---
--- Quote from: Patrick on April 18, 2018, 10:15:57 am ---I was actually planning to blog a little about TFSAs this month and how there really is only one provider to use now which is EE.

--- End quote ---

EE vs. Sygnia's index tracking unit trusts?

--- End quote ---

For me its a pity that Sygnia do not have a capped top40 UT. And also their skeleton international fund has some weird content - they also include their 4th IR in there.

I'm thinking of moving my TFSA to EE for the time being. Then looking at Saxo for normal stock broking seeing that I can buy SA and international on Saxo.

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