TFSA move update

Allan grey charges 0.5% on the first 1.5KK

Ok, I see what you saw Jman, and adding to the 1.4% you need to add the portfolio fee also.

My word this is difficult !
 
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Ok ... I think I am going stanlib, but they also have small fine print.

there are no annual fees from stanlib but only product fees where you invest ...

And you need to put down R10000 once off and a debit order of R500 or R2500 a month
 
zerocool2009 said:
Ok ... I think I am going stanlib, but they also have small fine print.

there are no annual fees from stanlib but only product fees where you invest ...

And you need to put down R10000 once off and a debit order of R500 or R2500 a month
Click to expand...

My unit trusts are with them and they seem to be updating their platform albeit very slowly. Anyway, I might move my TFSA to them from EE once day.
 
Ok .... I confirmed that stanlib doesnt ask any fees, but the fund fee you invest in (that is it)
 
Mmmm, no TFSA moves mentioned in the budget ...

So i assume I stay with what i have and start another product with a new service provider.
 
In my case i started a TFSA with a financial firm, and the product i choose isnt really working to my needs.

I maxed the contribution in the past 2 years now, and starting another at another firm

I hoped the government would soon specify "moving rules", if people want to move existing TFSA products from one firm to another, not losing the benefit
 
Don't go with old mutual. I invested 30k in June last year, and its running at a loss.
(Old Mutual Global FTSE RAFI All World Index Feeder Fund (tax free)

I can't wait for them to allow moves to different accounts.
 
RustyPrincess said:
Don't go with old mutual. I invested 30k in June last year, and its running at a loss.
(Old Mutual Global FTSE RAFI All World Index Feeder Fund (tax free)

I can't wait for them to allow moves to different accounts.
Click to expand...

OK, so you one of those sell low and buy high people? Which is the wrong way to do it.

NOW is the time to put money overseas, where the rand is strong. Even if it goes stronger and stronger, at some stage is go weaker again and then you will think about going overseas again right?

And you have diversification with that fund. Your retirements funds (RA, provident or pension) are 75% in SA market and in Rand.

Personally I'd say TFSA must be 50% local and 50% foreign (aka feeder) funds.

Then discretionary investments75% or higher foreign and the rest local.
 
RustyPrincess said:
Don't go with old mutual. I invested 30k in June last year, and its running at a loss.
(Old Mutual Global FTSE RAFI All World Index Feeder Fund (tax free)

I can't wait for them to allow moves to different accounts.
Click to expand...

And move it where exactly?

From the fact sheet:

WHO IS THIS FUND FOR?
This fund suits investors with a longer-term investment horizon who primarily
seek capital growth through exposure to the developed and emerging market
equities that make up the FTSE RAFI® All World 3000 Index. These investors
do not require income from this investment, and can tolerate stock market
and currency volatility.

RECOMMENDED MINIMUM INVESTMENT TERM
5+ years
Click to expand...

The only thing that fund doesn't give you is decent local exposure which you can probably supplement with an additional fund, no?
The costs also don't look bad at all especially if you are on B1.


EDIT:

Correction:
There is no initial administration charge for investment transactions of R500
and above. Initial adviser fee will be between 0% and 3.42%.
Investment transactions below the R500 fund minimum incur a 2.28% administration charge.
Click to expand...

Ouch
 
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zerocool2009 said:
Just read an update .... no moves allowed until March 2018 !!!! outch ! :(

"Treasury said the ability of investors to transfer will be postponed to 1 March 2018 to allow product providers sufficient time to prepare for more onerous responsibilities in assisting investors to comply with the annual and lifetime limits."

Source :

http://www.fin24.com/Money/Money-Cl...vings-accounts-what-you-need-to-know-20170228
Click to expand...

My guess: the providers are scared they'll lose their customers to EE and ABSA so not pushing very hard to get it working.
 
Hamster said:
My guess: the providers are scared they'll lose their customers to EE and ABSA so not pushing very hard to get it working.
Click to expand...

Very true. If anyone has a TFSA that doesnt perform (that include me), that provider has me at the short and curly's. So the best move now is, keep that where it is, and start another, thinking out of the box and learned from the existing TFSA
 
zerocool2009 said:
Very true. If anyone has a TFSA that doesnt perform (that include me), that provider has me at the short and curly's. So the best move now is, keep that where it is, and start another, thinking out of the box and learned from the existing TFSA
Click to expand...

Hehe, I said that in the heat of the moment but it might be true to some degree.
 
RustyPrincess said:
Don't go with old mutual. I invested 30k in June last year, and its running at a loss.
(Old Mutual Global FTSE RAFI All World Index Feeder Fund (tax free)

I can't wait for them to allow moves to different accounts.
Click to expand...

You don't need to move to a different account. You can switch funds within the same account with your Old Mutual TFSA.
 
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