A useful fee conversation needs more than “What percentage do you charge?” It should reveal the amount, recipient, timing and value of every layer.
Ask for the expected cost in rand and percentage terms, both in the first year and on an ongoing basis. Identify which fees are once-off, which repeat, whether VAT is included and what causes the amount to change. Then connect each payment to a service or investment function.
Do not assume a low fee proves value or a high fee proves poor advice. The fair test is whether the scope fits your needs, conflicts are visible and ongoing work is actually delivered.
Take these questions
- What is the expected total cost over the next twelve months?
- Who receives each fee or commission, and when?
- Which costs are inside the investment return rather than visible deductions?
- What service accompanies each ongoing payment?
- How can I change or stop the service and related fee?
Try this now
Choose the three questions most relevant to your arrangement and save them for the next review. Ask for written answers or source documents where the figures are technical.
One clear cost table is more useful than several percentages quoted from different documents and periods.