Take the highlighted example of a £250,000 portfolio invested over 10 years and generating a 6% gross return. Using a cost-effective investment manager like Netwealth vs a traditional wealth manager - that charges 2% in all-in fees - could save you £47,000.
Although not all wealth managers charge you 2% in management fees (the average is 1.86%, according to research from Numis Securitiesi) the above illustrates how wary you should be of the fees you pay over time. If you are not sure how much in total you are currently paying, you should ask your wealth manager or IFA for a full breakdown of fees and charges.
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And remember, when investing your capital is at risk.