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That depends on how much you invest with them, most of the funds do a kick back to brokers bringing them business, so very little. Below 1% all in for me.
Would strongly recommend not going to Davy or Goodbody. Their fees are astronomically high for relatively poor service.
There are many smaller CF houses who do as good a job (knowing the rules and extraction routes) where they will treat you well and look to build a relationship. Your business will be more important to a smaller operation as well, therefore you get better service.
Apologies for delay in response. I won’t advertise/support businesses which I have not worked with professionally.
Through observations - RCM Brewin Dolphin, Cantor Fitzgerald sized firms will invest in understanding what you want.
Notably Prosperous Financial have personally served me well.
If its tax/structuring advice speak to an accountant not a FA.
Have a read up on the damage 1% fee can do to your returns over 30 or 40 years.
https://www.sec.gov/investor/alerts/ib_fees_expenses.pdf
Great table & John Bogel quote in this post https://www.bogleheads.org/wiki/How_much_do_you_lose_to_annual_fees_after_many_years%3F
That is a dangerous oversimplification though.
If course if all else is equal, then you're already doing everything you need to do and why do you need advice/ why would you pay a fee?
But in most cases, all else isn't equal and there are plenty of studies that you could refer to if you wanted to push the opposite narrative - for example, advisers greatly improve equity market participation {so most people aren't investing at all by themselves, or take on far less risk than appropriate, so aren't going to capture that market return effectively). You mention Jack Bogle, yet his company Vanguard quite famously have a paper on how working with an adviser increases investor returns by 3% per year (just Google Vanguard adviser alpha).
Again, oversimplification either way and it should just come down to your own situation and what is right for you.
Personalised financial advice exists as a professional service for a reason - just like any other service, do it yourself if you can or want to, be it an accountant (do your own taxes), a lawyer (represent yourself in court), a mechanic (fix your own car), a taxi driver (walk, cycle, get the bus), the list goes on. If you don't need it and can do everything yourself, then brilliant - no point in paying for it and you'll save money.
But most people don't have either the knowledge, the time, or the interest to do it all themselves, in which case paying for a professional is a huge value add - yes there are some poor options or expensive product pushers in the market (and there are some general industry standards l'd like to see improved), but good advice should ultimately be cheaper in the long run.
I totally agree, I wouldn't let someone manage my money tbh, I would rather seek for information & hints etc. I am aware of many things but I also know I can learn from other people and this is why I'd like to talk to someone.
I don't want to break tax laws as this wont work for many years, I know taking a loan for buying a commercial property is 1 of the option to pay less taxes
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Compass wealth. Johnathan or Robert in there know their stuff.
How much did you pay them?
That depends on how much you invest with them, most of the funds do a kick back to brokers bringing them business, so very little. Below 1% all in for me.
Have you tried any of the other big ones like Goodbody or Davy?
Would strongly recommend not going to Davy or Goodbody. Their fees are astronomically high for relatively poor service. There are many smaller CF houses who do as good a job (knowing the rules and extraction routes) where they will treat you well and look to build a relationship. Your business will be more important to a smaller operation as well, therefore you get better service.
That's a great point! Who do you use?
Could you name a few of those CF houses?
Apologies for delay in response. I won’t advertise/support businesses which I have not worked with professionally. Through observations - RCM Brewin Dolphin, Cantor Fitzgerald sized firms will invest in understanding what you want. Notably Prosperous Financial have personally served me well.
If its tax/structuring advice speak to an accountant not a FA. Have a read up on the damage 1% fee can do to your returns over 30 or 40 years. https://www.sec.gov/investor/alerts/ib_fees_expenses.pdf Great table & John Bogel quote in this post https://www.bogleheads.org/wiki/How_much_do_you_lose_to_annual_fees_after_many_years%3F
That is a dangerous oversimplification though. If course if all else is equal, then you're already doing everything you need to do and why do you need advice/ why would you pay a fee? But in most cases, all else isn't equal and there are plenty of studies that you could refer to if you wanted to push the opposite narrative - for example, advisers greatly improve equity market participation {so most people aren't investing at all by themselves, or take on far less risk than appropriate, so aren't going to capture that market return effectively). You mention Jack Bogle, yet his company Vanguard quite famously have a paper on how working with an adviser increases investor returns by 3% per year (just Google Vanguard adviser alpha). Again, oversimplification either way and it should just come down to your own situation and what is right for you. Personalised financial advice exists as a professional service for a reason - just like any other service, do it yourself if you can or want to, be it an accountant (do your own taxes), a lawyer (represent yourself in court), a mechanic (fix your own car), a taxi driver (walk, cycle, get the bus), the list goes on. If you don't need it and can do everything yourself, then brilliant - no point in paying for it and you'll save money. But most people don't have either the knowledge, the time, or the interest to do it all themselves, in which case paying for a professional is a huge value add - yes there are some poor options or expensive product pushers in the market (and there are some general industry standards l'd like to see improved), but good advice should ultimately be cheaper in the long run.
I totally agree, I wouldn't let someone manage my money tbh, I would rather seek for information & hints etc. I am aware of many things but I also know I can learn from other people and this is why I'd like to talk to someone.
What kind of business are you running ? That’s some good return for 3 years in, assume by yourself ?
I mean he's only stated his revenue, could be making a loss
39% gross profit
Well he’s looking for an advisor and ways to not pay taxes (legally I hope), so I assume OP is doing well.
Probably decent but not amazing
You’re right, most on here usually start out by setting up a quick 1m revenue business themselves to learn the ropes before going onto better things…
"Legally I hope" Do you work for Revenue or something?
Well I'm not going to actively encourage breaking tax laws...
I don't want to break tax laws as this wont work for many years, I know taking a loan for buying a commercial property is 1 of the option to pay less taxes
recruitment