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santoshlv426

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Questions on Wealth Management
« on: June 27, 2017, 02:50:54 pm »
Can the guys on the forum comments, advise on this question.

Do you manage (ie. invest in shares, mutual funds, property, cash) on your own or have appointed either a Financial Advisor, or a Wealth Manager ?

If the latter two, which are the best Wealth Manager's for individuals (or families) depending on the size of the portfolio.

A WM for example, told me that he considers anyone with a Net Worth of +R5M a high net worth - do you agree ?

There's a couple of WM's around e.g. Brenthurst, Stonehage, Rosebank Wealth Group, Maitland, Galileo Capital, Citadel.

Which are best depending on the size of the portfolio ?

R0 - R1M,
R1M - R3M
R3M - R5M
R5M - R7M
R7M - R10M
R+10M


Any experience as to what makes a WM stand out, ie. is it the service, or moving funds around and is it worth the fees that they charge,

At what point would one typically transition from a financial advisor to a Wealth Management company ? Some WM's are preapared to talk as an intro, but some e.g. Galileo Capital will charge R1500 just for an initial chat - and that's without providing any advice ! Crazy.

Thanks guys
Santosh
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gcr

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Re: Questions on Wealth Management
« Reply #1 on: June 27, 2017, 03:12:15 pm »
To answer some parts of you many questions:-
    what is your own knowledge level regarding our markets, and have you ever bought and sold shares
      do you have a portfolio that you currently manage and do you have the various components in that portfolio
        if you are prepared to hand your portfolio over to a third party then whats this persons track history and what level of discussion there would be between yourself and this investment advisor

        I am sure that you may well get a wide range of comments on peoples views towards advisors, what to have in your portfolio and the composition of that portfolio. From my perspective I don't use an advisor (my preference), also I don't have any property stock in my portfolio - the only property I have invested in is my live in residence, I've reduced my holdings in mutual funds, as to my mind its more appropriate to invest in ETF with low fees compared to the costs of Mutual Funds, also I don't have a large cash holding in my portfolio (11%). But this is what works for me and may not be every bodies cup of tea
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santoshlv426

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Re: Questions on Wealth Management
« Reply #2 on: June 27, 2017, 03:25:28 pm »
I don't have any portfolio at present. Had some shares and unit trusts, which I cashed in and put the stuff in a money market as I needed access.
Then I looked at getting a FA to invest it for income and while seeking advice had a myriad of opinions. And from listening to all the business show's ect, started thinking about these questions - oh and reading this forum trying to gain some idea's also prompted the questions, however, the financial situation of the forum members is totally diffent.
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jaDEB

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Re: Questions on Wealth Management
« Reply #3 on: June 27, 2017, 04:47:12 pm »
I have a pension which is 17 years on the go. I also have shares that I manage myself (+/- 30% value of my pension).

I also do shares on my Brothers account for me and my 2 Brothers.

I use a stock broker, he is my firewall - ie. when I wanted to buy African bank and Onetime, he talked me into buying small %. Lets see the internet do that for you - online buying.

And also due to current  :wall: I also for the first time bough offshore - Tencents and TSLA. I will buy again next year (New tax season - March 2018)
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gcr

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Re: Questions on Wealth Management
« Reply #4 on: June 28, 2017, 04:12:28 pm »
Quote from: jaDEB on June 27, 2017, 04:47:12 pm
I have a pension which is 17 years on the go. I also have shares that I manage myself (+/- 30% value of my pension).

I also do shares on my Brothers account for me and my 2 Brothers.

I use a stock broker, he is my firewall - ie. when I wanted to buy African bank and Onetime, he talked me into buying small %. Lets see the internet do that for you - online buying.

And also due to current  :wall: I also for the first time bough offshore - Tencents and TSLA. I will buy again next year (New tax season - March 2018)
J, somewhat confused by your first statement - does your share portfolio constitute 30% of your annual pension or the future value of your pension until your death?
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Patrick

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Re: Questions on Wealth Management
« Reply #5 on: June 28, 2017, 07:44:25 pm »
Quote from: santoshlv426 on June 27, 2017, 02:50:54 pm
Galileo Capital will charge R1500 just for an initial chat - and that's without providing any advice ! Crazy.
That's an absolute bargain as it's a once off cost. Most of the managers who meet you for free will get you to take out an expensive policy or unit trust and over the course of your investment will quite easily cost you millions!

Whenever people ask me about this, I'll give my opinion and then recommend Warren Ingram's first book "Become your own financial advisor".

Managing your own money is really not rocket science, as long as you make sure you save well, avoid trying to outsmart the market, and don't get taken for a ride by product salesman you will likely end up just fine :)

Welcome to the forum btw.
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santoshlv426

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Re: Questions on Wealth Management
« Reply #6 on: June 29, 2017, 07:47:04 am »
Patrick
I've had some initial discussions with very well respected and known FA's to date - and all were willing to listen to me and gauge my requirements for a free discussion - no proposal but just and intro, which I expect.
Galileo charges just to introduce oneself - this is my point. I have an E Copy of Warrens first book.
Maybe if someone can post an e copy of the 2nd book, I'll post the 1st book online or we can email.
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