Looking for a financial advisor

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RisseN

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Hey everyone,

Im looking to get some financial/investment advice. I do a lot of reading both online and in finance magazines so I consider myself fairly clued up for a layman. I've never really used a financial advisor but am now considering one just to make sure im on the right track and that what I have figured out for myself through research is actually the way to go.

I've currently got a couple investments that I contribute to monthly on a direct debit. But I now have a lump sum amount which I would like to put somewhere and although I have various ideas of what to do with it, id like to get a professional's advice before going ahead.

So anyway, to my question. Can anyone please recommend any good investment advisors to meet with? I would like them to be somewhat independant because I dont see the point of meeting with an Allan Gray advisor for example if all they're going to talk about is Allan Gray's products. I want someone who can talk about ETF's, unit trusts, RSA retail bonds, shares, etc.

Also, what sort of costs are involved when doing this through a financial advisor? How much would they typically charge to meet with me?

Im in the JHB area.

thanks!
 
I think you'll find all financial advisors are going to be brokers and all brokerages are going to have a preference. (mainly because they get bonuses etc based on targets so sending 100% of your customers to one place is more likely to result in some nice stuff for you instead of 50/50)
 
Be very careful when taking advice from a broker. Most brokers that I have dealt with in the past have little or know good knowledge to give and will just try to sell a normal formula to you. They are expert sales people, but in my opinion somebody that really had good financial advice to give would not be spending their time trying to help other people and would be working behind the scenes for a large bank etc.
 
Do a research on SATRIX. Minimal fees and do better than most brokers with their high Management fees. If you had SATRIXRAF shares, you would have done about 9% over the past month alone. Remember to always buy on the dip, NEVER when stocks have risen over a few days. Check www.sharenet.co.za and surf around there until you are familiar with the site and do it every day. Check prices of SATRIX and history. When the Top40 or ALSI drops, keep an eye on it and when it starts going up, BUY.
Sold mine today as the market sentiment has dropped and the prices will head south. Will buy again after the dip.
In short, Satrixraf is from the top 40 companies on the JSE with the best fundamentals, cash flow and good management. These Co's will rocket when the market normalizes.
Leave Unit trusts out. They for pension fund managers.
 
I already invest in SATRIX (satrix 40 and RAFI). That's probably where ill put this lump sum i've got but I was just thinking about speaking to an expert to see if i've thought about all the options fully. Thanks.
 
rorz0r said:
I think you'll find all financial advisors are going to be brokers and all brokerages are going to have a preference. (mainly because they get bonuses etc based on targets so sending 100% of your customers to one place is more likely to result in some nice stuff for you instead of 50/50)
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Interesting to see some people commenting as if they are experts on the topic but clearly having no knowledge on it.

There are two main types of consultants. Tied agents and independent brokers.

The former is tied to a specific insurance company and as a result they are only mandated to sell that companies products. They work under the FSP license of the company in question. They will do an analysis and find the solution offered by that company that fulfils your needs. They cannot consider the products offered by other companies. These consultants earn all their income from one company.

The latter works independently of any particular insurance company. They have their own FSP number. They can sell the products of which ever company they choose. The companies will send their own consultants (called broker consultants - BC) out to the brokerages to educate them on the product and try to encourage them to sell their product but there is no obligation to sell any company's products. The only downside of not selling more of a particular company's products is that your visits from the BC will become less frequent and you will get less support (this is obvious in any business).

As for your insinuation about incentivising independents to sell more of one product you cannot be further from the truth in the current climate. The broker consultants are only allocated R1000 per year to spend on entertaining the independent consultants and they need to disclose all expenditure. No other form of incentivising is allowed.
 
What are people's thoughts on gold? If you're already investing in Satrix for example, what about diversifying a bit and buying some gold? Perhaps Kruger Rands?

Thoughts?
 
There is a new investment opportunity available

marco said:
Do a research on SATRIX. Minimal fees and do better than most brokers with their high Management fees. If you had SATRIXRAF shares, you would have done about 9% over the past month alone. Remember to always buy on the dip, NEVER when stocks have risen over a few days. Check www.sharenet.co.za and surf around there until you are familiar with the site and do it every day. Check prices of SATRIX and history. When the Top40 or ALSI drops, keep an eye on it and when it starts going up, BUY.
Sold mine today as the market sentiment has dropped and the prices will head south. Will buy again after the dip.
In short, Satrixraf is from the top 40 companies on the JSE with the best fundamentals, cash flow and good management. These Co's will rocket when the market normalizes.
Leave Unit trusts out. They for pension fund managers.
Click to expand...

Have a look at the following investment option from Liberty Life. it tracks the SATRIX 40 and has the tax benefit with a portfolio fee of around 0.5%. Check it out. http://www.liberty.co.za/our-products/investment-and-savings/Pages/liberty-evolve-investments.aspx
 
RisseN said:
What are people's thoughts on gold? If you're already investing in Satrix for example, what about diversifying a bit and buying some gold? Perhaps Kruger Rands?

Thoughts?
Click to expand...

Gold is a very high Risk/Reward investment. You can make a lot of cash quick or lose a lot of cash.

Also, consider the strikes with our mines, imo not that good right now
 
poffle said:
Gold is a very high Risk/Reward investment. You can make a lot of cash quick or lose a lot of cash.

Also, consider the strikes with our mines, imo not that good right now
Click to expand...


Little point offering advice on a question posted more than two years ago.
 
Dammit - ValleyLion's one post wonder threw me. I didn't see the date of the first post
 
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