Hi Guys, This is slightly of topic but would appreciate any guidance you can offer. When i started work in 2008, i was approached by a financial advisor to take out an RA. Still young and naive i took out a policy only knowing it would cost R500 a month and increase every year by 10% and be invested in an aggressive portfolio- That was the only things discussed. The policy is from Sanlam - Cobalt for professionals. Recently i started receiving quarterly statements from Sanlam with my contributions and the charges. in a quarter my RA contributions are around R3000. In addition to a plan charge of R38, i pay R880(vat inc) for a variable administration charge. This amount is calculated by taking the current fund amount *3.4% / 12 * 3(3 months for the quarter). So my contribution to the RA is actually 2200. My question - Is this normal? Any advice? Should i cancel? What are my options? My concern is when the fund grows to 2 or 3 mil and i will be paying fees on that.Feel like i was screwed over. Thanks in Advance!
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Hi guys... A bit off the topic... I'm doing some travel in a couple of weeks to Dubai and india. Just wanna know your opinion on the best way to carry money.. Cheque, credit, or Bidvest card? Cash? Travellers cheques? Any advice would be REALLY appreciated. Thanks!
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