Easy Equities good or bad?

In total, they charge about R500k - R600k per year across all investments in the portfolio.
I have raised the issue before on here. Some of the fund fees aren't too bad. The ongoing advisor fee is what grinds me.

The other day I got an email from the advisor informing me that they can change the fee structure to a new model they supposedly started implementing on some of their clients. Effectively cutting my costs in half.

Why now all of a sudden do they want to change the fee structure? If they could have done it years ago. Because I moved about R13bar to another provider after I informed him that I was not happy with the fees, now he wants to change things.
 
Wrath of Khan MD said:
So on a small R2m portfolio they are charging you R7,000 per year.... for what????????????
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And then you hit 2m and it halves. Going to be a real pain as the prices fluctuate around the R2m mark... you'll be bouncing between R7k-pa (.35%) and R3k-pa (0.15%)
 
xrapidx said:
And then you hit 2m and it halves. Going to be a real pain as the prices fluctuate around the R2m mark... you'll be bouncing between R7k-pa (.35%) and R3k-pa (0.15%)
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Also not really accurate as the amount under R2m is always subject to the 0.35%, it's only 0.15% on the amount over R2m.
 
hence why I invest and do everything myself, the ETF's I have are with Vanguard, iShares, Invesco. All the other shares are bought individually.
 
Also worth noting... these fees imposed, even if R200+ should not bother any person who invest and keep the funds there for 10, 20, 30 years. It is gamblers and traders that should be concerned.
 
What I dont get, lets say you have R2kk in a skeleton 70 RA, its twice a year R50 000 in dividends

Why are you worried? The fees are still super cheap, my honest view!
 
FiestaST said:
Transferred some bucks in my EE acc in the morning. Normally it reflects in 1-2 hrs, it’s been over that nothing as yet…. :unsure:
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I had to contact them 6 times lately, to allocate funds FNB to FNB. Then they asked for a support ticket with proof of payment on.
 
So this is how closing my account is going... sold everything. Waited for it to be settled and available.

Tried to transfer everything out - all but 75c can't be transferred out - no reason why - it shows as available.

Logged a ticket to close the account - with the 75c - as I'm not interested.

Got a reply that the account can't be closed, I must please transfer the 75c out, they have made it available OR I can request them to write it off.

Logged in, 12c of the 75c is now available - replied with a screenshot saying its still not available and to write it off - I'm not going to back and forth over 75c.

Got a reply that they'll forward my request to the finance team.

Now we wait.
 
xrapidx said:
So this is how closing my account is going... sold everything. Waited for it to be settled and available.

Tried to transfer everything out - all but 75c can't be transferred out - no reason why - it shows as available.

Logged a ticket to close the account - with the 75c - as I'm not interested.

Got a reply that the account can't be closed, I must please transfer the 75c out, they have made it available OR I can request them to write it off.

Logged in, 12c of the 75c is now available - replied with a screenshot saying its still not available and to write it off - I'm not going to back and forth over 75c.

Got a reply that they'll forward my request to the finance team.

Now we wait.
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1. Who are you moving to?
2. Why'd you sell first? Isn't it better to transfer the actual shares across?
 
Dylan_G said:
1. Who are you moving to?
2. Why'd you sell first? Isn't it better to transfer the actual shares across?
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I do not think EE can transfer shares or partial shares to other accounts. I have tried before and was just told I cannot transfer shares or partial shares and I need to sell it off and transfer the funds. No reasons were given to me at all, even asking two or three times.
 
The Worker said:
I do not think EE can transfer shares or partial shares to other accounts. I have tried before and was just told I cannot transfer shares or partial shares and I need to sell it off and transfer the funds. No reasons were given to me at all, even asking two or three times.
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You can transfer unit trusts or ETF's without selling, at a small fee per fund, if the new company have them listed as well.

Try to buy at close as a full share, then move. See the rest as "school fees for life", and move on ....
 
Dylan_G said:
1. Who are you moving to?
2. Why'd you sell first? Isn't it better to transfer the actual shares across?
Click to expand...
1. Been with Clarity for awhile now. I only had my EasyEquities account open because I had LabAt shares which were suspended from trading for the last year and a bit.
2. If the process is anything like the TFSA transfer. 1. They charge you for the pleasure. 2. It was a balls-up dealing with their staff in the process. Only way it got done was by tagging the relevant people on X.
 
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