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Member
yes, http://investnow.co.nz/award-winning-managed-funds/ has 2 vanguard funds with very low fees which are their wholesale rate, how do they make money?
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Originally Posted by voltage
They're owned by http://iisolutions.co.nz/about-us/
I'm just guessing, but I think they may be using the Vanguard funds as loss leaders (hoping you'll also send some $ to their other more lucrative funds).
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Member
I invest in vanguard funds using by purchasing efts via the asx. I like having control but must admit this is the next best thing. I wonder if they are held in a custodial account?
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Junior Member
Originally Posted by Kelvin
Not sure I want to use a company that just suddenly popped up through
Fully owned by a company that has been around for several years and already has more than $1 billion FUM though.
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Junior Member
Originally Posted by huxley
They're owned by http://iisolutions.co.nz/about-us/
I'm just guessing, but I think they may be using the Vanguard funds as loss leaders (hoping you'll also send some $ to their other more lucrative funds).
Possibly. Just reading the FAQ and they get paid by the fund managers including Vanguard (and some of their own funds are on the platform too).
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Member
I wonder what happens to your investments if Investnow goes bust or shuts down
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Member
I have VTS and VXUS via Interactive Brokers. It is easy to open an account but less easy than others to trade. Currency conversion is very cheap with IB.
I have looked at Simplicity but it charges 0.06% on all funds whilst the underlying costs of VTS and VXUS are much less.
There is also the FIF aspect. Simplicity may be a PIE and so have no tax to pay but as a company / trust it will be charged at the FIF rate irrespective of whether the funds go up or down. In my own name FIF tax is only payable if the funds increase.
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Currency conversion is very cheap with IB.
Cheap, as in fees - or cheap, as in close spreads between Buy and Sell rates quoted?
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Member
Originally Posted by macduffy
Cheap, as in fees - or cheap, as in close spreads between Buy and Sell rates quoted?
Cheap fees, sometimes only a US dollar or two, and a small spread. Double bonanza!
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Member
Kiwico, how does custodial work with IB
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