The F-word: what fees do you pay as an investor?
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The role of technology in financial planning
Automated advice models and offerings are no longer a threat to financial planners but rather an enabler to their businesses. Â
28 May 2021 06:59
Image: Shutterstock
A few years ago, a great deal of uncertainty and debate prevailed with the apparent rise and threat of the ârobo-advisorâ in the financial services sector. At the time, advisors were uncertain as to the role and future that human advisors would fulfil as reports about robo-advisors gained traction. A couple of years on, and this perceived threat has now evolved into a massive opportunity to serve our profession and clients better.
Nitat Termmee
A Fin24 reader who paid R1 500 into a retirement annuity for 15 years recently started a better-paying job, affording him the opportunity to pay extra toward his home loan. Seeking the advice of an expert on whether he should invest more into his retirement or pay his home off sooner, he writes:
I have been paying R1 500 into a Sanlam retirement annuity for past 15 years. It hasn’t grown much. I got a better-paying job two years ago, which has put me into a much higher tax bracket: R423 000 to R550 000 per annum. I m fortunate in being able to pay an extra R5 000 to R10 000 into my bond every month.