I have Professional Indemnity Insurance through Camargue Underwriting Managers (Pty) Limited.
I have Masthead as my compliance officer.
Asset Management Trail Fees
What Asset Management Trail Fees do and pay for in my business service delivery;
1. Asset Management research time
- Checking if the managers that I use are sticking to their investment mandates.
- Remain aware of alternative or more appropriate asset managers.
- Do basic due diligence and corporate governance processes on the asset managers used.
2. Specific responsibilities for income dependent investors:
- Review income levels at income anniversaries.
- Check that re-investments into your portfolio are taking place and reflected as such.
- Monitor that your investment portfolio’s unit numbers are changing correctly regardless of currency or price values.
3. General services delivered or that might be requested
- An administrative record of your portfolio is created and held.
- Regular newsletters emailed to clients relating to anything in the financial planning world.
- Portfolio reviews as required during the year.
- In a way, securing and retaining my services to ensure that your beneficiaries or dependents are looked after in the future.
- Other sundry and at times unrelated financial planning advice or investment research.
As per legislation, I have a signed agreement in place with another Independent Financial Planner, who is also a Certified Financial Planner® Licensee, whom I would be happy recommending to you. Together with my office, he will make contact with my clients who would still need to appoint him as their advisor. A client is in no way compelled to remain with this colleague. The structure is there to ensure a client is not left orphaned and has an option.
I believe that Financial Planning as such should be a professional service and not always or necessarily a sales based event. Thus I have elements of Fee-Based Financial Planning in my practice where various tasks or services might carry a once-off or retainer based fee.