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Best discount broker for MF

Discussion in 'Managed Funds & Index Funds' started by mumeco, 17th May, 2008.

  1. mumeco

    mumeco Active Member

    Joined:
    2nd Apr, 2008
    Posts:
    31
    Location:
    NSW
    I have got some MF via CFS, and want to register with a discount broker. Which is the best? I know about YourShare and InvestSmart. Is there a difference? Are there better options out there? I guess it would be grand if they could also get me the trailing fees from my home loan and income protection, but I don't know if anyone can do that.
     
  2. mumeco

    mumeco Active Member

    Joined:
    2nd Apr, 2008
    Posts:
    31
    Location:
    NSW
    Fund Brokers

    Well, I have done some research on the Fund Brokers and have come up with the following:
    YourShare
    - rebates entry fees
    - rebates 50 - 70% trailing commissions on managed funds, super, insurance products
    - free to join
    - independently owned -what happens if it goes under?

    InvestSmart
    - rebates entry fees
    - rebates any trailing commissions over $396, or 50% if TCs are less than 396 (for new clients only)
    - doesn't seem to include super or insurance products although I could be wrong about this
    - free to join
    - part of fairfax media group

    Trail commissions assumed at 0.5% per year.
     
  3. APerry

    APerry Active Member

    Joined:
    7th Jul, 2006
    Posts:
    30
    Location:
    Melbourne
    Sorry for rehashing an old topic. I'm about to re-enter the sharemarket after a hiatus of about 3.5 years and am planning on doing so, at least initially, through managed funds. I've done quite a bit of research on the discount fund brokers, and i think the best three are, in no particular order:

    YourShare - Home
    www.rebatefinance.com.au
    Trailing Commissions - Refunds & Rebates :: Discount Fund Broker Irefund

    It seems the largest players are Investsmart and 20/20 DirectInvest, but their rebates are not nearly as attractive. I can't see any advantage in going with a larger player in this area, given that if one of them goes under you can sign a one page form with a competitor and swich your funds over to them.