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Financial Advisor vs D.I.Y.

Discussion in 'General Investing Discussion' started by dagman3782, 10th Nov, 2008.

  1. dagman3782

    dagman3782 New Member

    Joined:
    10th Nov, 2008
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    Location:
    Emerald, VIC
    Hi,

    I have been using a financial advisor for about 18 months. He has invested, on my behalf, in a variety of direct shares and in managed funds. The portfolio has stayed the same for the last 8-10 months and I pay him 1.1% each month. I want to take over the portfolio myself but I don't know how to get control from the financial advisor. Can someone tell me the process please?

    Thank you.
     
  2. crc_error

    crc_error The Rule of 72

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    if he has managed to keep the value the same, he has done really well! most people here are down 30-40% over the last 10-12 months.
     
  3. dagman3782

    dagman3782 New Member

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    I am sorry. I mean't to say that the particular shares are the same although the value of them has dropped about 30%.
     
  4. RobertHolmes

    RobertHolmes Member

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    Sydney, NSW
    13.2% Mer

    Did you really mean 1.1% per month? The PDS & FSG s/he was obliged to provide should have details of how to escape her/his usery. I suggest you should have read them closely 18 months ago.

    crc_error: He has done really well..for himself IMHO
     
    Last edited by a moderator: 10th Nov, 2008
  5. crc_error

    crc_error The Rule of 72

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    Location:
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    if its 1.1% per month, GET OUT NOW!!!

    I would say its more likely 1.1% PA.

    your saying the shares are the same, I dont think there is a need to be trading the shares. each time you sell, you trigger capital gains and brokerage costs. Unless you want a xmas card from your broker, keep the shares long term unless fundamentals change and you believe its best to sell.