How To Stop Them From Taking Your Money!

Financial advisers, and the financial institutions which they are affiliated with, are helping themselves to your money with your full consent. It’s called trailing commissions. (Sometimes it maybe described as ongoing fees paid on a percentage basis). Every financial product from superannuation, home loans, managed funds, life insurance and investment loans, pay out trailing commissions. These fees and commissions come straight out of your investment portfolio.

Do you know how much of your money is being paid out in trailing commissions and unfair fees charged on a percentage basis of your investments and/or loans? The following table is a brief summary of some of the most commonly purchased financial products affected by unfair fees and trailing commissions.

On average, over $2000 per year is paid out by investors/buyers in fees and commissions. Most people wouldn’t mind paying if they were receiving ongoing advice and service from the advisers and the product providers. But, the reality is that once you’ve made your financial purchase you never hear or see your adviser again. And, this is exactly the reason why you should stop them from receiving these trailing commissions and unfair fees.

Up until now it has not been an easy process to reverse, that is, make the client benefit from the trailing commission and fees – not the adviser and the product provider.  The three key issues working against the client have been:

-       Commissions cannot be paid directly to the client.

-        Commissions cannot be switched off.

-       Commissions are paid for the term of the investment/loan.

However, under the MyMoney concept these barriers have been overcome allowing the client to receive 100% of all commissions. Furthermore, you are not required to sell or terminate your existing financial products or change your financial adviser.

The MyMoney concept has been developed to assist investors and home loan borrowers obtain rewards from underlying commissions paid in respect of their investments.

MyMoney is a privately owned patented product specifically designed to address these unfair practices. The company was set up to provide an efficient service for self-directed clients to access a wide but comprehensive range of financial products.

The providers of the MyMoney product operate under their own Australian Financial Services Licence and are therefore completely independent and have no financial affiliations with any other product provider.

To find out more about MyMoney, and more importantly, your money, go to the website at www.mymoney.com.au.

Short URL: http://www.asiatrade.com.au/?p=74

Posted by Asian Master on May 28 2010. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry