Me! Again... (fund help)

this is true.. but most funds have minimums, and he may not be able to afford the min entry points.. going through netwealth, he can get into a selection of funds under one umbrella.

If he invests $5000, then the fee is about $45 for the year... to use the wrap account.. some of that will be offset by the savings by entering the wholesale fund version rather than the retail.

I've been having a look around the netwealth site, but can't find any information on their fees and charges. It's free to join, but after that I don't know what the fees are...
I can find the MERs of various funds, but nothing else.

I could stick with my CFS account and maybe change some of my investment options and then set up regular investments into 2 or 3 funds. But I don't think CFS has as many funds available to invest in. I had a look and don't think I can access any of the Vanguard options.

Any advice?
What would you do in my position?

Compleks, from memory is was 0.94% of your holding balance, so on $10,000 you pay $94 per year to them in fee's.

Plus remember going through them you will enter the wholesale funds versions of funds.

For example, if you enter the Platinum international share fund via the retail colonial platform, you will pay 2.45% MER FEE

However going direct to platinum you will pay 1.44% MER. With netwealth you invest DIRECT with Platinum, PLUS netwealth 0.94% so your total MER with netwealth will be 2.38% which is LESS than going via colonial.

Plus with netwealth you can invest in ALL the platinum funds, like the ASIA one which is pritty good, via colonial you can only invest in the standard international share fund..

In essance netwealth give you far more investment options, 1 simple tax statement, one place to manage everything easy to setup a regular investment plan.

I do like the sound of that. Simple is what I'm after at this stage.

I wouldn't really want to hold accounts with Netwealth and Colonial though... So I'm tempted to close the CFS account and put what's left in with a Netwealth account.
I'm not sure though

I guess I could leave the CFS account and forget about it. Just start fresh with Netwealth using 2 or 3 funds and a regular contribution plan. It's probably not really much of a hassle to maintain the two accounts, but a slight case of OCD says I should keep everything together

Hmmm... I'm not sure how to structure myself now. If I keep the CFS account I think I will hang onto the 452 geared Aus. Share fund, and maybe transfer the money from the other two funds into a generic growth fund??


What sort of fund allocation should I look to set up with netwealth?? I'm thinking maybe the Vanguard Australian Share Fund (I think it's the indexed one??) and another generic high growth fund (Vanguard again perhaps?).

Ahhh...
So many questions.

speak to netwealth, I believe you can also transfer-in existing funds to them, so you would not need to sell your current 452 holding. I'm not sure how it works as I have not done it, but I have recently begun the process of rolling over my super to netwealth from colonial. From what I could see, the cost is the same, but I get far more options to invest in - in my super..

That would be great if I could do that.

Do you have a SMSF? My super is with BT for life (through my westpac account). I just opened it recently and am putting $100 a week into it for now. I'm not considering changing it anytime soon. I'm not sure what other options I would need at this stage.

If I could transfer my current holding it would be good, just for managements sake and keeping everything in the one place. I'll see what I can do.

I found out the fee's for you.

its 0.825% PA gets cheaper the more you have invested with them

so on $10,000 you pay $82 per year..

I have noticed their colonial margin lending fee is 10.15% whereas I pay 10.5% with comsec margin lending (I do get a 25 pt discount with comsec which still is more than colonial)

their share trades are a fixed $20 per trade as well.

no I don't have a SMSF, but I like the netwealth as its almost as good as one.. you can buy direct shares, invest in almost anyfund etc.. only better thing a SMSF could do is buy direct property, which I'm not looking at doing.

Thanks mate. I did run across some of their fees before.

I don't think I'll be using any margin lending though.

I saw something briefly about a cash account aswell.
"Current Cash Rate 7.10%"

I just recently opened an account with Macquarie prime for use of their cash account which is 7.25%pa from memory. They also get discount brokerage at $20.
For the difference in interest do you think it would be advisable to put everything (CFS and Macquarie) all into Netwealth?
Is the netwealth cash account competitive enough to warrant the closing of my macquarie account???

Netwealth also allows me to invest in shares at $20. So I could feasibly manage all my investments under one convenient platform.
Sounds too good really.

I wouldn't worry about the cash account to much, as most of your money will be in the funds you invest, so on the few dollars it wont make much difference. For the sake of it been easy, I would have it all in one place..

I'm just looking at it myself as well, this is why I know the answers

I also like how you don't need to fill out application forms for each managed fund.. you simply invest in them online through the website..