Discussion in 'Managed Funds & Index Funds' started by mendelevitz, 19th Dec, 2006.
Discount fund brokers - are they any good?
If you mean the likes of Commsec's Direct Funds or Fairfax's Direct Access ... they do the job. If you are looking for a mechanism to avoid costly entry fees into retail managed funds, then that is a good way to do it ... and some even rebate part of the ongoing commission too.
I started off using Neville Ward Direct (recently bought out by Commsec to become Commsec Direct Funds) when I started. I don't use them now because I only invest in wholesale funds (no entry / exit fees and lower management fees).
If you meant something else by "discount fund brokers", then please give more details.
The one I use is InvestSmart
Managed funds and superannuation with 100% rebate of entry fees and research on funds and shares - InvestSMART
They refund all entry fees and also any trailing commissions beyond $396.
As per the other brokers mentioned they give no advice but will try and sell you many different funds
I did open an account with them but they are not margin loan friendly unless you use their prefered bank. Direct Access has the fund I want and the in house Direct Shares which is *etrade will do for the other.
Separate names with a comma.