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Does anybody know?

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jo_soap
Contributor
of a good FEES ONLY financial advisor in Cape Town. Would appreciate it. Thanks!
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42 REPLIES 42
AJT
Super Contributor
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THRESHOLD
Super Contributor
Yeah. A really good man will generally charge in a formal setting. In fact, in order to secure the value of his advice, he will often not even make himself available to the smaller portfolio holder ie. it is a battle to find a good man at almost any price for the "smaller" portfolio.
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Rams
Super Contributor
how do you know jo is a small portfolio
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THRESHOLD
Super Contributor
Well... he would hardly be asking this motley crue for advice if he weren't.
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Alonzo7
Frequent Contributor
Threshold - please advise your estimates/thoughts on the monetary value/range when it comes to the "smaller portfolio" - "medium portfolio" & "large portfolio" for the Retail Investor.
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THRESHOLD
Super Contributor
I detect the sarcastic edge to this BUT I want to answer. My point was that a serious pro could not expose him/her-self to mistakes on a "small portfolio" as they would reflect on their abilities. So "SMALL" is really relative to the professional involved. Personally - I yack away here out of boredom and as a hobby. I wouldn't expose myself to the professional risks of an advisory service FULLSTOP.
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THRESHOLD
Super Contributor
This is actually a very interesting topic and I often wonder where the "man in the street" gets his financial (and for that matter, legal) advice. Perhaps R4 million (the price of a decent house) is a material investment sum. Much below that - and it becomes a portfolio for the retail adisory service.
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kwagga
Super Contributor
I will give advice for free jo soap. What do you want to know ?
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Alonzo7
Frequent Contributor
Threshold, your detection of sarcasm in this instance in definitely wrong. Seriously though I think it is a reasonable question & i am quite sure many of us here on the forum would like to know more or less where we fit in (in terms of our Portfolio/ Capital). Reason why I posed the question to you; is simply based on your knowledge (you seem to be very knowledgeble based on the many responses that I read from you & I do enjoy reading your comments)....and I am NOT being Sarcastic (seriously). I do know and agree that it is relative, However just our of interest - it would interesting to know. So let's try again Threshold or anyone else out there - what are your opinions when it comes to "small portfolio" , medium & large portfolio for the Retail Investor"
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THRESHOLD
Super Contributor
Fair enough. R3 to R4 million is a decent enough portolio to attract adequate fees to justify the time spent on the matter.
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Russ
Super Contributor
I guess you were expecting sarcasm after the motley crue comment.I prefer to think of us as a grand cru.
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THRESHOLD
Super Contributor
With a srew-on top!
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Alonzo7
Frequent Contributor
Great - Thanks, at least there is a "peg in the ground" that many of us could aspire to & work towards.
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jo_soap
Contributor
My mum has some money overseas sitting in the money market. My brother and I have developed a plan to invest directly in ETFs (and maybe even some high dividend paying quality stocks) but really wanted somebody in the know to advise. I am (obviously) not a professional but am wary of getting financial advice from a commission earning advisor. I have heard that there are financial advisors who will provide advice for a hourly fee but I dont really just want to pick one out of the yellow pages.
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THRESHOLD
Super Contributor
You really need (no must) take resposibilty for your own future. Even if (when) you approach an advisor - you need to be able to ask the right questions; you need to be able to assess the quality of his advice by identifying inconsistencies, errors, failings in logic, etc. To do this you MUST do your homework - to the point that the advice you receive is almost "confirmation" and where it differs from your own findings, it requires justification.
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jo_soap
Contributor
Agreed! Where do I start?... or rather with whom do I start? As I mentioned we have already done research into the various ETFs and developed a plan. I want somebody to find some holes it it.
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THRESHOLD
Super Contributor
You could start by going to 2 or 3 of the smaller brokers and compare their advice. You may even get free advice if you play your cards right, since they will want a mandate to take control of your funds (NO! don't!). Between those 3 opinions and your own, you should be able to make a meaningful assessment of you plan. (Just remeber that they all have the same agenda {being in the same business} - so there is the risk that they are all prepetuating the same error of bias - perhaps even deliberately.)
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jo_soap
Contributor
Thanks Threshold. Sounds like a good idea..
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Not applicable
OK, my 2c worth - I think Threshold has hit the nail on the head here, but I think that financial advisors stick to formulas that have worked for them. I don't think they will advise too far out of their working models. They are also all incentivised, so you must absolutely think of them as salesmen. Nothing wrong with sales people, that is the best way to properly understand a product. So shop around and don't take anything they say for granted. Dig into your own research as well and compare notes.
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