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A Fin24 user wants an independent assessment of financial service providers. He writes:
I will be returning to SA to retire in a year or so and have been looking for an organisation to handle my investments and provide a prudent cashflow to live on.
There are any number of service providers out there, but what I can't find is a source that gives me independant assessments of performance and reputation.
Are there any such forums?
Chris van Wyk of PSG Hermanus Portfolio Management & Stockbroking responds.
Clearly, an adequate business and resource base, respected track record, market recognition and registration with appropriate authorities will be what every potential client would be looking for.
However, it would be helpful to establish specific selection criteria to suit one’s particular preferences such as:
- A service provider in a large banking group or an independent one;
- A smaller service provider, which is nimble and focused on personal attention;
- Unhindered access to a portfolio manager and administrative staff whenever required;
- Total transparency with regards to all charges;
- Service availability and personal contact close to your place of residence;
- A bespoke investment strategy and portfolio delivering the required retirement cash flow or the entire range of investment, fiduciary, administration and tax services; and
- Clear evidence of understanding the needs of clients in retirement.
Every retiree’s needs are unique, both on an emotional and financial level.
Everyone has preferences about the nature of the personal relationship they want with their wealth manager.
Trust forms the basis of who finally will be the appropriate choice for you.
These vital considerations are not covered by statistics. So, short-list a number of service providers, meet with them and make sure you are comfortable with the investment process and administrative capabilities as well as the sincerity with which they approach your interests.
A survey by Business Day Investors Monthly (published in April 2013) of South African private banks and wealth managers could provide assistance.
The results are not freely available electronically. Use the link and negotiate your way into the website.
It does not include all investment managers that could potentially be available in South Africa, but is comprehensive enough for supporting a search.
- Fin24
Do you have a pressing financial question? Post it on our Money Clinic section and we will get an expert to answer your query.
Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers.
Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.
I will be returning to SA to retire in a year or so and have been looking for an organisation to handle my investments and provide a prudent cashflow to live on.
There are any number of service providers out there, but what I can't find is a source that gives me independant assessments of performance and reputation.
Are there any such forums?
Chris van Wyk of PSG Hermanus Portfolio Management & Stockbroking responds.
Clearly, an adequate business and resource base, respected track record, market recognition and registration with appropriate authorities will be what every potential client would be looking for.
However, it would be helpful to establish specific selection criteria to suit one’s particular preferences such as:
- A service provider in a large banking group or an independent one;
- A smaller service provider, which is nimble and focused on personal attention;
- Unhindered access to a portfolio manager and administrative staff whenever required;
- Total transparency with regards to all charges;
- Service availability and personal contact close to your place of residence;
- A bespoke investment strategy and portfolio delivering the required retirement cash flow or the entire range of investment, fiduciary, administration and tax services; and
- Clear evidence of understanding the needs of clients in retirement.
Every retiree’s needs are unique, both on an emotional and financial level.
Everyone has preferences about the nature of the personal relationship they want with their wealth manager.
Trust forms the basis of who finally will be the appropriate choice for you.
These vital considerations are not covered by statistics. So, short-list a number of service providers, meet with them and make sure you are comfortable with the investment process and administrative capabilities as well as the sincerity with which they approach your interests.
A survey by Business Day Investors Monthly (published in April 2013) of South African private banks and wealth managers could provide assistance.
The results are not freely available electronically. Use the link and negotiate your way into the website.
It does not include all investment managers that could potentially be available in South Africa, but is comprehensive enough for supporting a search.
- Fin24
Do you have a pressing financial question? Post it on our Money Clinic section and we will get an expert to answer your query.
Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers.
Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.
