Asked on 01 Oct 2020
According to the agent, the fees for iFast are about 1-3% pa. It is relatively high and so wondering if it's worth it to pay for someone to manage it? Or should I just stick to Syfe/Stashaway?
It seems like you have already planned to invest for a period of 20 years or more. If that is the case, then you should not be worried about the fees too much at all!
In most of these platforms, it seems like there are 2 types of fees. One time fee and also recurring fees. However, for a period of 20 years, I think that your main concern should not be the fees and rather how safe is your investment. I think it might be a better option to diversify your investment into a few several platforms and avoid overlapping the type of investments you make on each platform.
Look at the returns in a longer period of time rather than focusing too much on the fees. Since you do not want to actively manage your portfolio, these are the payments that you cannot avoid, it is just paying for a service. Review your investments year after year and as long as you are satisfied with the returns you can carry on.
Well, it depends.
you might need to pay 1-3% but get higher returns overall.
Robo, you don't get the personal engagement and understand in what you're investing in.
So you can weight your concerns:
1) Paying "high" fees
2) Investing into robo advisory w/o support