Handing your money over to a fund manager...

[MrBurns]

LOL!!

Last time. They have trading permission. That is it. They cannot withdrawn funds. Again!!

For the last time ??? Thats the first time you've said that, that's all I wanted to know.

 

[CanOz]

LOL!!

Last time. They have trading permission. That is it. They cannot withdrawn funds. Again!!

They're basically trading your account for you MR.B. It would be like you giving me access to your brokerage account to place trades for you. I can't withdraw any funds, and you have full visibility to what i am doing. You just don't have to worry about managing the trading activity.

Simple, effective, convenient.

CanOz

 

[MrBurns]

They're basically trading your account for you MR.B. It would be like you giving me access to your brokerage account to place trades for you. I can't withdraw any funds, and you have full visibility to what i am doing. You just don't have to worry about managing the trading activity.

Simple, effective, convenient.

CanOz

Thanks canoz, thats all I wanted to know.

 

[Sir Osisofliver]

What safeguards are there in place if you decide to put money with a fund manager such as Nick Radge, I've only ever heard of him recently I can Google him to find out more but when it's all said and done if I were to deal with him I'd be handing over hundrens of thousands of dollars to a man I don't know, unlike with a TD at a bank you're dealing with a bank so you don't give it a second thought.

What's is to stop a fund manager transfering everyones money into a Swiss bank account and disappearing.

It sounds like an SMA. AFSL licence is required, constitution and Responsible manager in order to run the structure as a MIS. Likely to be a PDS which will detail the legals. Usually those documents will let you know where the risks lie.

In answer to your specific question. Professional integrity.

 

[skc]

They're basically trading your account for you MR.B. It would be like you giving me access to your brokerage account to place trades for you. I can't withdraw any funds, and you have full visibility to what i am doing. You just don't have to worry about managing the trading activity.

Simple, effective, convenient.

CanOz

How do they take the fees out? Or you pay them separately?

 

[CanOz]

How do they take the fees out? Or you pay them separately?

Good question SKC, no mention of that but I'm sure Mr.B can ask Nick how that is done.

Cheers,


CanOz

 

[basilio]

Professional integrity...

Sir Ossie hit it in one. If the guy is honest there should be no problem (apart from possibly losing your money through poor trades and/or costs)

But if things turn sour I think I would want to have a closer hand on the moola.

___________________________________________________________________________________

I had a look at his website and it does look like an enticing arrangement. But it has been operating for only 12 months. Early days.

 

[skc]

I had a look at his website and it does look like an enticing arrangement. But it has been operating for only 12 months. Early days.

The portfolio goes to cash in bear market which is wise. You pay 15% performance fee above benchmark which is the ASX200 ETF. I wonder if you pay performance fee if the benchmark return is negative.

E.g. Benchmark down 20%, your account is flat. That's 15% fee on the 20% out-performance... i.e. 3%.

Something for Burns to ask Radge I guess.

 

[tech/a]

Professional integrity...

Sir Ossie hit it in one. If the guy is honest there should be no problem (apart from possibly losing your money through poor trades and/or costs)

But if things turn sour I think I would want to have a closer hand on the moola.

___________________________________________________________________________________

I had a look at his website and it does look like an enticing arrangement. But it has been operating for only 12 months. Early days.

Known Nick 20 yrs
Is fully licensed.
Vigorously guards his integrity
Has traded live his methods right through
The difficult periods.
His fees are in my view more than reasonable.

The biggest plus is Nick is a family man
Who has always been and remains very
Approachable.

I understand your concerns and so does Nick.
That's why he has set this up so that both you and he
Are at arms length.

Give him a call.

 

[Trembling Hand]

For the last time ??? Thats the first time you've said that, that's all I wanted to know.

First time no.

This is why I said you are lazy. You haven't even look into the basics. If its a managed account its stays in your name. Like any account NO ONE else can withdraw the funds.

Please make a call and find out for yourself.

LOL!!

Last time. They have trading permission. That is it. They cannot withdrawn funds. Again!!

If its the same setup that I have with IB the commissions can setup as a agreement/rule that IB administer. All pretty safe and simple. Very transparent and if you look into you may find its also has insurance against fraud to 1 mil.

But of course you would want to find this out for yourself

 

[MrBurns]

First time no.

But of course you would want to find this out for yourself

Yes I guess there no point asking in here, might as well talk to the cat

They use Macquarrie, not keen on them for some reason but who knows, opps sorry that wasnt a question.