Easy Equities good or bad?

[zerocool2009]

I got paid out in my TFSA from dividends from my Coreshares Global Divtrax. Which is odd because I'm sure I signed up for automatic reinvestment.

Does anyone know where that option is so I can choose it again? I've contacted Easy Equities but I think I'd get more of a response shouting into a black hole.

How I have it, dividends are paid out within the account. You then can cashout (to your bank) or buy more, but its all manually

 

[LaraC]

From the email I received:

Did you invest with them?

 

[sandwitch]

How I have it, dividends are paid out within the account. You then can cashout (to your bank) or buy more, but its all manually

But AFAIK with the TFSA it counts towards my yearly limit. Satrix does it automatically so Easy Equities should be able to as well. It's just finding that button...

 

[zerocool2009]

But AFAIK with the TFSA it counts towards my yearly limit. Satrix does it automatically so Easy Equities should be able to as well. It's just finding that button...

Lol, been down that road. Satrix charges a fee for that, thats why its automated

I moved my etf’s from Satrix to EE, to save on silly’s as auto buying.

With EE you get notified with incoming dividends... so just buy when the markets opens

 

[Swa]

But AFAIK with the TFSA it counts towards my yearly limit. Satrix does it automatically so Easy Equities should be able to as well. It's just finding that button...

It does not count towards your limit. Only deposits count.

 

[zerocool2009]

But AFAIK with the TFSA it counts towards my yearly limit. Satrix does it automatically so Easy Equities should be able to as well. It's just finding that button...

No, only money coming externally in counts towards the yearly limit ! Dividends or interest is “internal”.

 

[mr_norris]

I got paid out in my TFSA from dividends from my Coreshares Global Divtrax. Which is odd because I'm sure I signed up for automatic reinvestment.

Does anyone know where that option is so I can choose it again? I've contacted Easy Equities but I think I'd get more of a response shouting into a black hole.

Looking at the MDD for that etf, they list the distribution frequency. That means dividends will be paid out, rather than reinvested. That's why the dividends are paid into your EE account. I think it's beyond the control of the broker here. There is no automatically reinvest dividends option in EE that I know of.

 

[zerocool2009]

Looking at the MDD for that etf, they list the distribution frequency. That means dividends will be paid out, rather than reinvested. That's why the dividends are paid into your EE account. I think it's beyond the control of the broker here. There is no automatically reinvest dividends option in EE that I know of.

Its a perk of Satrix... but at a cost!

 

[sandwitch]

It's a perk I don't mind paying for. Up until your and swa's explanation I assumed the dividend payout became a deposit, and therefore taxable, once you bought more shares with it. Its good to know I can reinvest that money and not stress about my yearly limit.

 

[zerocool2009]

It's a perk I don't mind paying for. Up until your and swa's explanation I assumed the dividend payout became a deposit, and therefore taxable, once you bought more shares with it. Its good to know I can reinvest that money and not stress about my yearly limit.

Correct. SARS only worries about money going IN via the account from the account holder. (NOT WITHIN)

 

[zerocool2009]

Ok EE guru's

So I thought that EE is much cheaper than Satrix Now.

I see now a line : "Issuer Portfolio Cost" after dividends paid out

So it sounds like with Satrix Now all costs are visible upfront, but not with EE

 

[zerocool2009]

Ok EE guru's

So I thought that EE is much cheaper than Satrix Now.

I see now a line : "Issuer Portfolio Cost" after dividends paid out

So it sounds like with Satrix Now all costs are visible upfront, but not with EE

Saying this..... what about non dividend funds?

When you sell, you will await a huge bill for monthly fees?

 

[Swa]

Saying this..... what about non dividend funds?

When you sell, you will await a huge bill for monthly fees?

I've often wondered how managed funds are billed. Seems Easy Equities is not so easy.

 

[zerocool2009]

I've often wondered how managed funds are billed. Seems Easy Equities is not so easy.

Sadly to say.... saw some nice dividends coming in via my EE account (tfsa)...

Guess what, 70% was eaten by fees

Not a happy camper to say the least

 

[jman]

Sadly to say.... saw some nice dividends coming in via my EE account (tfsa)...

Guess what, 70% was eaten by fees

Not a happy camper to say the least

I always take what you say with a massive pinch of salt. Where do you see a 70% fee? Issuer portfolio cost is exactly that, from the issuer, i.e. Satrix or Sygnia. EE is your broker. Fees are deducted on distribution of dividends by the issuer, which shows an additional level of transparency in my opinion, as opposed to applying the fee prior to dispensing the dividend

 

[zerocool2009]

I always take what you say with a massive pinch of salt. Where do you see a 70% fee? Issuer portfolio cost is exactly that, from the issuer, i.e. Satrix or Sygnia. EE is your broker. Fees are deducted on distribution of dividends by the issuer, which shows an additional level of transparency in my opinion, as opposed to applying the fee prior to dispensing the dividend

Great you take things with a pinch of salt. So I got R189 in dividends on a R36K investment, and only R41 cleared. Its 78% of the dividends

One thing I am super glad, I didnt go the easy properties route !!! As rates and taxes and levies are working on the same principle.

So with Satrix Now (you get charged a monthly fee (which include the admin cost for having the fund)).

So at the end of the day, even EE aint that cheap, that is all that I wanted to say.

To conclude : With Satrix now you see what you owe (as its visisble)
With EE : You cant see what you owe at all, its part of the dividend deduction

 

[Meister-Man]

Tmk EE does not charge a monthly fee, I'm not familiar with satrix now. EE will accumulate the fees and once dividends have been distributed then they deduct the fees from this dividend.

 

[zerocool2009]

Tmk EE does not charge a monthly fee, I'm not familiar with satrix now. EE will accumulate the fees and once dividends have been distributed then they deduct the fees from this dividend.

Satrix now charges a monthly fee, so does FNB investing platforms.

Ok, thanks for given me the needed info. This is the first time after my TFSA move (that I see this).

That is all I am saying

 

[jman]

Great you take things with a pinch of salt. So I got R189 in dividends on a R36K investment, and only R41 cleared. Its 78% of the dividends

One thing I am super glad, I didnt go the easy properties route !!! As rates and taxes and levies are working on the same principle.

So with Satrix Now (you get charged a monthly fee (which include the admin cost for having the fund)).

So at the end of the day, even EE aint that cheap, that is all that I wanted to say.

To conclude : With Satrix now you see what you owe (as its visisble)
With EE : You cant see what you owe at all, its part of the dividend deduction

You provide zero context so how can anyone express judgement, what ETF is it? Different funds have different dividend payouts based on sector, asset class, etc. Your broker can either charge the issuer fees on distribution of dividends or before it - this will be included in the total investment charge (TIC) of the fund. This fee isn't absorbed by the broker, it's paid to the issuer. Then there's also dividend withholding tax, which the broker has no control over either. So you don't know what you're on about

 

[Swa]

You provide zero context so how can anyone express judgement, what ETF is it? Different funds have different dividend payouts based on sector, asset class, etc. Your broker can either charge the issuer fees on distribution of dividends or before it - this will be included in the total investment charge (TIC) of the fund. This fee isn't absorbed by the broker, it's paid to the issuer. Then there's also dividend withholding tax, which the broker has no control over either. So you don't know what you're on about

How can fees be charged before as they have no idea how much it is? TFA's are also tax free. I'd just like any investment platform to be open and transparent, and taking fees off dividends also means you're being cheated on your tax free benefit as you can't deposit that money back without it affecting your contribution.