Fees and costs

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Why investment fees matter more than they sound

One percent of R500,000 is R5,000 a year, every year. How to see what a recurring fee actually costs, and weigh it against what you get.

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Once-off vs ongoing fees: timing is part of the price

A small fee that repeats can cost more than a large one that does not. How to sort every charge into once-off or ongoing, and why the labels mislead.

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What is a financial advice fee actually paying for?

An advice fee is a price without a product attached. Here is what it can cover, why the same words mean different things, and what to pin down.

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What is an investment platform fee paying for?

The platform is the filing system your money lives in. What it does, what it charges, and why it is not the same thing as advice or fund costs.

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What is a fund management fee, and why can't you see it?

A fund fee never leaves your bank account. It comes off inside the fund, which is why three documents can quote three different numbers for it.

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What is a DFM fee, and who is making the decisions?

A discretionary fund manager can change your investments without asking you first. What that authority covers, what it costs, and what to ask about it.

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How does financial advisor commission work?

Commission rarely arrives as an invoice, so it is easy to assume nobody was paid. Who pays it, when, and the questions that make it visible.

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How to calculate your total investment fees

Advice, platform, fund, DFM, insurance, transactions, VAT. One arrangement can hold seven costs, and reading one line tells you almost nothing.

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How much difference does a 1% fee make? More than it looks

R100,000 left alone for ten years. At 8% it becomes R216,000. Drop the net growth to 7% and it becomes R197,000. Same money, same decade.

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Where are fees shown on investment statements?

An empty fee column does not mean a free investment. Where the costs hide, which ones sit inside unit prices, and why the dates rarely line up.

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How do performance fees work?

The percentage is the least interesting part. The benchmark, the period, and whether past losses must be recovered first decide what you actually pay.

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Are transaction costs and VAT included in investment fees?

Often not, and the honest answer is that some of them cannot be known in advance. Which costs sit outside the headline rate, and how to ask about them.

2 min read

What are surrender charges and exit penalties?

Leaving a product costs more than a cancelled debit order. Lost guarantees, tax, new underwriting. Get a dated exit value before you sign anything.

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How do I know if a financial fee is fair?

Not by the number on its own. Finish the sentence “I pay about R___ a year for ___” and see whether you can name what fills the second blank.