InvestSMART

Financial Planning at InvestSMART?

Question

Do InvestSMART provide Financial Planning services ? My current financial planner charges $15k per annum to manage a SMSF ($1.2M), SFI warrants ($700k), a trust for my wife ($110k), my daughter ($70k). On top of the $15k, the platform charges $2,500 for admin costs p.a. and a fixed advice fee for the SMSF of $2,500k. SO all up about $20k in advcie and fees per annum ! - Regards Nadesan

Answer

Hi Nadesan,

This is a question that we are often asked here at InvestSMART and for good reason. The fees that you mention often cover advice, the use of a platform, and more.

The short answer is no, InvestSMART does not provide a financial planning service.

We do however offer Managed Portfolios that are diversifed, and offer capped fees. You can also use our Portfolio Manager to get a quick HealthCheck on your portfolio.

Our Chairman, Paul Clitheroe, has written about this previously in Paul's Insights: Financial advice? Watch the fees.

The ASIC Moneysmart website also has information here.

I hope this helps.

Regards,

Tom Wilson

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Tom Wilson
Tom Wilson
Product Specialist