The high cost of non-independent investment advice

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[SPONSORED] It’s important when taking investment advice to understand the financial strings behind that advice. Moneyweb finance money

“The linked investment service provider [LISP] industry is predominantly driven by alliances to asset managers and has a legacy of higher fees and limited administration,” says Charles Brits, sales manager at Wealthport.

It’s time investors start asking what non-independent advice is costing them. “Apart from the financial cost, there’s the element of transparency. Tied investment advice is wrapped in murky fee structures and it’s frustrating trying to get to the bottom of it,” adds Brits. “We don’t push just one product provider but will offer advisors a broad universe of solutions that they in turn can offer their clients.”By closely guarding its independence, Wealthport has built a powerful and growing business. Funds under management grew 52% in 2021.

ETFs have become a popular addition to many portfolios, something Wealthport is able to offer. Traditional investment platforms are limited in their ability to trade ETFs. Brits relates the story of one financial advisor who put clients into an oil ETF after the oil price crash of 2020, and then sold out four months later when he reasoned that oil had hit its peak. It is these kinds of opportunities that ETFs present and that are usually denied to clients due to the limited universe of investment options available on most platforms.

 

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