When it comes to investing, it’s essential to understand how fees can compound over time and potentially affect your long-term financial goals.
In the usual course of financial advisory services, it is customary for financial advisors to levy an initial or establishment fee, which typically falls within the range of 0.50% to 3.00%. This fee encompasses the efforts to formulate and execute the advisory recommendations and usually depends on the initial amount invested. Additionally, an ongoing management fee, typically within the range of 0.25% to 1.00%, is assessed for the continuous oversight and counsel pertaining to the investment.
Distributions from your investment, such as dividends and interest income, can incur taxable events. In SA, local dividends are subject to a 20% dividend withholding tax paid by all resident and non-resident companies regarding shares listed on a South African exchange. Dividends are tax-exempt if the beneficial owner of the dividend is an SA-resident company, SA retirement fund, or other prescribed exempt person.
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