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Author Topic: TFSA  (Read 28814 times)

jonb

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TFSA
« on: February 20, 2018, 10:18:36 pm »
Is anyone else not feeling great about TFSA results on the ETF route?

I have the sygnia world ETF and prop trax 10
With a blend of STX ind  ... I have had full allocation since TFSA started

All in thirds

Apart from stxind it’s all been pretty weak especially since the rand has strengthened ( cons of an SA based offshore product! )

I wonder if anyone has had any experience with a managed lowish cost fund under TFSA that they the happy with ?




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Hamster

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Re: TFSA
« Reply #1 on: February 21, 2018, 04:27:17 am »
Everything took a knock the last couple of weeks. This is the "risk appetite" part you've read about.

Ignore this, keep on investing and carry on.
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HT Song

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Re: TFSA
« Reply #2 on: February 21, 2018, 04:00:05 pm »
Just on the TFSA topic: I currently have a TFSA with a life company that charges me very high fees (realized it only after becoming less ignorant after having had it for two years). Can one transfer it to another platform (i.e Easyequities) like one can with an RA?

I understand it would have been possible but the implementation was delayed for another year.

I'd rather transfer it than withdraw it all , thereby not being able to replace the funds.

Anyone know of changes to this rule coming after the budget speech? 
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andre

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Re: TFSA
« Reply #3 on: February 21, 2018, 05:26:11 pm »
Although anticipated it seems there is no change to the annual limit or being able to transfer to another fund (yet).
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Hamster

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Re: TFSA
« Reply #4 on: February 21, 2018, 07:14:41 pm »
I'm stuck on EE with mine. Another year came and went with no change. Will push future lump sums etc to another provider. It's the only way it seems.
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Patrick

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Re: TFSA
« Reply #5 on: February 21, 2018, 07:54:58 pm »
Quote from: Hamster on February 21, 2018, 07:14:41 pm
I'm stuck on EE with mine. Another year came and went with no change. Will push future lump sums etc to another provider. It's the only way it seems.
What's the issue with EE? I have both EE and ABSA. ABSA is marginally cheaper so I use that now, but the service from EE is miles better. ABSA couldn't help me with an account for my son, and I've been waiting 2 weeks now to be able to change banking details.

They just never respond, totally useless customer service. I imagine it's because the R33k at 0.2% transaction fees isn't actually worth their time.
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Olua

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Re: TFSA
« Reply #6 on: February 21, 2018, 08:42:29 pm »
Quote from: Hamster on February 21, 2018, 07:14:41 pm
I'm stuck on EE with mine. Another year came and went with no change. Will push future lump sums etc to another provider. It's the only way it seems.

EE is vastly superior to Absa. No problems with them ever and I now have moved all my investment & trading business to them
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Hamster

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Re: TFSA
« Reply #7 on: February 21, 2018, 08:59:06 pm »
I don't trust their platform. It feels like a very manual system with a "slick" UI ion top of it. Over the last three years I've had numerous issues like my total holdings not adding up, repeated incidents where extra charges are applied when buying ETFs and most recently they completely messed up a corporate action and wrongly credited accounts only to reverse it two months later.

It just feels like something is constantly going wrong. I'll keep my small share portfolio there but since the TFSA has grown to a sizable amount I'd like to move it.

Personal opinion. The developer in me is seeing red :p
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Hamster

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Re: TFSA
« Reply #8 on: February 21, 2018, 08:59:32 pm »
Quote from: Olua on February 21, 2018, 08:42:29 pm
Quote from: Hamster on February 21, 2018, 07:14:41 pm
I'm stuck on EE with mine. Another year came and went with no change. Will push future lump sums etc to another provider. It's the only way it seems.

EE is vastly superior to Absa. No problems with them ever and I now have moved all my investment & trading business to them
There's no way they are superior to ABSA.
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gcr

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Re: TFSA
« Reply #9 on: February 22, 2018, 12:14:06 am »
Easy Equities is part of the Purple Group - it also has a company GT247 which was a trading platform. When I went on retirement in 2005 I used to read a daily bulletin board (can't remember the name right now) and the people commenting on this board were all traders from around the globe - they operated in London, SA, Hong Kong, Canada, Australia, America. They absolutely castigated GT247 for poor administration, fouling up orders and unwarranted charges. Some were quite acerbic in their criticism of the company and its head honcho - Mark Barnes who is still chairman and is now the CEO of SAPO and has gone on record to say that he will fix this operation.
So given my knowledge and the history around GT247 I will never consider Easy Equities as a platform

My opinion 
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Hamster

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Re: TFSA
« Reply #10 on: February 22, 2018, 05:27:23 am »


Quote from: gcr on February 22, 2018, 12:14:06 am
Mark Barnes who is still chairman and is now the CEO of SAPO and has gone on record to say that he will fix this operation.

Any relation to Carly Barnes (purple hair)?
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jonb

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Re: TFSA
« Reply #11 on: February 23, 2018, 08:38:20 am »
Quote from: Hamster on February 21, 2018, 08:59:06 pm
I don't trust their platform. It feels like a very manual system with a "slick" UI ion top of it. Over the last three years I've had numerous issues like my total holdings not adding up, repeated incidents where extra charges are applied when buying ETFs and most recently they completely messed up a corporate action and wrongly credited accounts only to reverse it two months later.

It just feels like something is constantly going wrong. I'll keep my small share portfolio there but since the TFSA has grown to a sizable amount I'd like to move it.

Personal opinion. The developer in me is seeing red :p


I have had similar experiences and share your concern here, interested to hear where you would move the TFSA to ?


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Hamster

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Re: TFSA
« Reply #12 on: February 23, 2018, 10:14:12 am »
Quote from: jonb on February 23, 2018, 08:38:20 am
I have had similar experiences and share your concern here, interested to hear where you would move the TFSA to?


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If I was to stick with ETFs I would move it to ABSA. If I was to move to unit trusts it would probably be Allan Gray or maybe Sygnia but I haven't thought it through yet.
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gcr

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Re: TFSA
« Reply #13 on: February 23, 2018, 04:04:24 pm »
Quote from: jonb on February 23, 2018, 08:38:20 am
Quote from: Hamster on February 21, 2018, 08:59:06 pm
I don't trust their platform. It feels like a very manual system with a "slick" UI ion top of it. Over the last three years I've had numerous issues like my total holdings not adding up, repeated incidents where extra charges are applied when buying ETFs and most recently they completely messed up a corporate action and wrongly credited accounts only to reverse it two months later.

It just feels like something is constantly going wrong. I'll keep my small share portfolio there but since the TFSA has grown to a sizable amount I'd like to move it.

Personal opinion. The developer in me is seeing red :p
I already run a share portfolio with the bank I worked for, so I asked them to open a second portfolio account for me and all my TFSA transactions are conducted over this account without interference with my main portfolio which is subject to CGT and other taxes so have kept them apart for so that there are no disputes with SARS now or in the future as and when they changes the rules around TFSA. Also by keeping them as separate entities I can trade over the TFSA (if I wanted to) without being restricted to hold the instruments for 3 years which I am compelled to on my main portfolio if I don't want to be classified as a trader 


I have had similar experiences and share your concern here, interested to hear where you would move the TFSA to ?


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Hamster

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Re: TFSA
« Reply #14 on: February 24, 2018, 08:15:34 am »
TFSA...let's hope
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