WealthSmart fee

This is the fee we charge for managing your money. This portion is subject to our no-win no-fee policy.
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Third-party fees

This portion of the fees is charged directly by the investment products providers. Why isn't this included in our fee?

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How we charge.

In traditional services, irrespective of how their investments perform, users always pays for the service. This means the service providers aren’t incentivized to do everything in their power to ensure the risk of loss is kept to a minimum. For this reason, we only charge our customers when their accounts are profitable. This might be a small step, but we’re hopeful others will follow suit and help reshape our industry.

At the end of every month, we compare the value to the portfolio with the total amount of money is invested. If it's more, we charge our management fee. If it's less, we waive our management fee. We do this every month.

Third-party fees?

Fees on top of fees? This probably isn't the first time you've come across this and it probably won't be the last. So why are we jumping on this bandwagon? Sadly we don't have a choice. As your portfolio manager we invest your money with a variety of fund managers (they supply the "products" we invest in). Each fund manager charges a fee for managing their fund (deciding what investments to bring in or leave out). To make things easier, the 0.30% is a high estimate, this means we always make sure the actual amount remains lower than this.

Why do you invest in funds?

The alternative to investing in funds would be to invest directly in company shares or bonds. This approach removes the need for incurring a supplier fee, but drastically increases the costs incurred to buy and sell the investments.

We don't plan on this always being the case, at present we feel this in the best interest of our customers. Aside from drastically lowering the amount of transactions needed, using funds leverages the know-how of experts in their respective areas. Not all investments behave the same way, therefore leveraging this know-how is a good way to reduce overall risk. As your investment manager, our role is to ensure these fund managers are delivering good value for money on your behalf.   

Why does the no-win no-fee not apply to this fee?

Fund managers charge their fees separately. In other words, we are not responsible for withdrawing money from your account on their behalves. They do this at the fund level. Implementing our win-win fees holistically would require us to work exclusively with fund managers that agree to operate this way. At present we don't know any that do.