10x - anyone using them for RAs?

Kashman said:
sygnia so far has been great for this. I contacted them and wanted to move my funds from Ninety-One over to them and I completed 1 form, letter of intent sent it off. They are handling the entire matter now but keep me copied on all correspondence.
Click to expand...

Thanks, I actually have something with Sygnia - so will contact them. (I actually just finished increasing it by the 4k that went to 10x)
 
Guys, so I moved from OM to 10x cos of the whole lower fees story. The first 6 months was fee free, but now I can see the fees, and either I'm reading it wrong, or I'm getting shafted.
I have a R1k debit order, fees vary, but for August it was R36.99. previous month R34 odd.

Is this normal?

edit: lol ok its % of your lump sum...
 
Last edited:
xrapidx said:
Looks like this 10x thing will be very short lived. I logged on and the transaction section doesn't show transactions - sent them an email - and they've just responded that you can't see transactions, only the total amount of units held.

Waiting for final confirmation - but if that's the case - cancelling the debit order.
Click to expand...
So, did you cancel DO? I hardly look at units bought in any such web sites but you have a point there.
 
surface said:
So, did you cancel DO? I hardly look at units bought in any such web sites but you have a point there.
Click to expand...

Yip - cancelled. I've found to many mistakes in billing, charges, etc - to trust the company I'm dealing with to give me accurate information.
 
xrapidx said:
Yip - cancelled. I've found to many mistakes in billing, charges, etc - to trust the company I'm dealing with to give me accurate information.
Click to expand...
Very strange. Most of the forum members seem to be happy with 10x. I actually opened RA with them just this month. If you care to share, what mistakes in billing & charges are you talking about? And how did you find these mistakes?
 
surface said:
Very strange. Most of the forum members seem to be happy with 10x. I actually opened RA with them just this month. If you care to share, what mistakes in billing & charges are you talking about? And how did you find these mistakes?
Click to expand...

Not with 10x - but previously I've found when my RAs were with ABSA that the unit's they're deducting - vs the rand value do not add up.

I also had issues with my Satrix policy when I decided to pull out - again - a similiar issue of unit prices being different to the total rand value.

If people are happy just having visibility of the rand value, good for them - to me its the same as buying a foreign currency, and being happy only seeing the value in rands over time.

The fact that 10x won't supply the units on transactions is a bit odd/suspect to me. They say its R300 - but how do you know they've deducted R300's worth of units - and not R310 worth of units.

(If it was just rand based transactions - then its perfectly fine - but you're not buying rands - you're buying units or part there of)
 
I moved my Pension Fund when I changed jobs to a 10x Pension Preservation Fund. I was quoted fees of max 0.9% pa and my fees for 2019 were about spot on based on the average value of the fund for the year.
 
I am still trying to figure out if I should go with 10x or Sygnia. Sygnia has lower fees but for some reason I'm drawn towards 10x.
 
surface said:
I agree here although I didn't see anything special on alchemy that one can't do on coronation etc.. I admit I haven't explored sygnia site as much though.
Click to expand...

I gave up on Coronation last month - they want me to fill in paperwork everytime I make changes.
 
xrapidx said:
I gave up on Coronation last month - they want me to fill in paperwork everytime I make changes.
Click to expand...
Never happened for me with coronation. I only send digitally signed documents if at all someone asks and coronation never complained.
 
simonbee said:
I have a lump sum investment with them. reinvestments also only show a total amount. when I contacted them about it, they said I could email them each time there was a reinvestment for a breakdown of the number of new units and the price. Not a good model at all.
Click to expand...
I agree. I didn't think much about it till @xrapidx pointed it out. Basically, we would never know what happens behind the scenes. I wonder if this gets reflected in the annual statement perhaps?
 
surface said:
I agree. I didn't think much about it till @xrapidx pointed it out. Basically, we would never know what happens behind the scenes. I wonder if this gets reflected in the annual statement perhaps?
Click to expand...

i get statements every quarter, but have not found the breakdown lister there
 
simonbee said:
i get statements every quarter, but have not found the breakdown listed there
Click to expand...
So, I queried with them and their response is " Please follow the steps below to view your number of units. We do not have the unit unit prices and dates available on the portal.

1. From the My10X dashboard, click on My retirement Investments
2. Click on the Retirement annuity
3. Click on View& Manage.
4. Click Documents & Forms > Portfolios"

I don't see anything there except forms as my investment is still being processed but perhaps you can see something?
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X