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Anonymous
Any good independent financial advisors to recommend for someone not too good with finances and looking to retire at 50?
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Elijah Lee
03 Feb 2021
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Zac
01 Feb 2021
Noob at Idiots Invest
Rough guide is a range of 0.5% to 1% of the AUM. Also depends on whether your advisor charges fee-based or commission-based structure. In terms of fees, some agents charge a % of the total AUM, others will charge a fee on each trade/transaction. Commissions-wise, you should check if trailer fees are being paid as these will be taken out of your investment amount.
If fees are your concern, consider digital wealth platforms as they generally charge lower fees.
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PolicyWoke
01 Feb 2021
Turbo-charge Your Savings with REPs at PolicyWoke
Hi Anonymous,
If you are still looking for an independent financial advisor (IFA) to refer, contact...
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Hi anon,
I will just say that I am an independent financial advisor with Phillip Securities.
You can contact me via the google form on my Seedly profile page if you wish to get in touch.
To answer your question, advice is just that: advice. If you don't act on it, then nothing happens. If however, you require services or products that an IFA can provide, expect that there is a fee for portfolio management (e.g. WRAP fee, advisory fee, etc), and if an insurance product is required, then commissions are naturally built into the product structure.
Other IFAs may charge a consultation fee, retainer fee, etc. This really depends on the IFA and you might want to speak to the IFA to understand more about his/her structure.