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Discount fund managers (Investsmart, 2020..)

Discussion in 'Managed Funds & Index Funds' started by Crusher, 29th Dec, 2009.

  1. Crusher

    Crusher Well-Known Member

    Joined:
    11th Jul, 2008
    Posts:
    83
    Location:
    Newcastle, NSW
    Hi all,

    Just curios does anyone use Investsmart, or 2020direct as their nominated fund manager? I read they reimburse all of your entry fee's and pay them as additional units without a cost to you..

    Has anyone had any bad dealings with these types of companies? Would you recommend them?

    I pay 2% entry on my CFS geared share MF.. thats around $30-50 a year or so i pay in entry fees.

    Any thoughts, thanks.
     
  2. Leah

    Leah New Member

    Joined:
    31st Dec, 2009
    Posts:
    1
    Location:
    Maleny Qld
    Hi
    I am new to this website, but have you heard of a website called
    YourShare - Home.
    They pay you back on all your commissions etc they become your broker, they also specialise in insurances as well, you get up to 70% of your trailing commissions back by cheque each year.
    They now do investments, that is how I found out about them, I have been with them now for nearly 12mths and it has been easy transferring all our other broker based items, now they are all with one broker.
    Hope this helps, also I was looking at rabobank as well, they have cheap fees.
     
  3. APerry

    APerry Active Member

    Joined:
    7th Jul, 2006
    Posts:
    30
    Location:
    Melbourne
    Hi Crusher,

    The discount services you mentioned are two of the larger ones. You will get higher rebates from other similer companies, such as YourShare. I alos have some money invested with Colonial and use Rebate Financial Services as a discount broker for access, they also get rid of contribution fees and debit my bank account three times per year for 50% of the trailing commissions. I also have personal insurance policies with a couple of insureres which also generate reasonable size trailing commission rebates.