Author: reckless89e

What To Know About Financial Advisor Fees

Hiring an experienced financial advisor can be a great way to achieve your financial goals, ensure a secure retirement or grow your Adelaide business. However, compensation and fee rate structures vary a lot from experts to experts, making it difficult to find out how much money you have to pay and whether you are dealing a fair deal. With that in mind, we’ve made a list of what you should understand about advisor fees before you make the final decision.

Fee Structure

Generally, there are five ways a registered financial advisor often charges for their services:

• Hourly charge: a fee charged every hour, commonly for consulting or special projects
• Fixed rate: a fixed amount of fee paid for the services, such as creating a financial plan
• Percentage of managed assets
• Commissions: extra compensation when a trade or purchase is made
• Performance-based fee: additional fees when a goal is outperformed

Fee-only financial advisors are only compensated by their clients with a percentage-based, hourly, or fixed fee and won’t get any additional compensations from products sales, referrals, or investment commissions. Many people often use the terms “fee-based” and “fee-only” interchangeably, but there is a significant difference between them.

Fee-based experts might get a fee for their services, along with compensations. That’s why they are sometimes referred to as commission and fee advisors. Commission-based financial advisors get their compensations based on the types of investment they select. The compensations might come from commissions paid by mutual funds or a sales charge of a product like life insurance or annuity.

Extra Costs

The usual fees wouldn’t be all that you have to pay when hiring a financial advisor. In some cases, you must be responsible for transaction fees or third-party expenses. For example, if your expert uses exchange-traded funds or mutual funds in your accounts, you will need to pay the costs related to those funds. On average, the cost for a mutual fund often ranges from 0.5% to 1.25%. This seems to be a small rate, but it can actually cost you a lot of money. Thus, make sure to ask for any additional costs in addition to fees before hiring a financial advisor.

How to know your advisor fee is fair?

Before agreeing to hire a financial advisor, ensure that you understand the fee structure and which services include in that fee. Some experts might charge extra for a few programs and services. It should not be hard for them to explain to you how they can add value to your investments. If you only hear elusive or roundabout answers. It is better to choose another one. If they tell you not to be worried about costs, it can be a red flag as nobody wants to work for free, except for fraudsters. Lastly, you should also check if they are a fiduciary to ensure a higher-quality service.

How to minimize advisor fees?

In general, investors with less managed assets often have to pay a larger part of their assets in advisor fees. Determine if a robo-advisor or a traditional expert is better for your situations. Robo-advisors often have lower minimums and fees. If you decide to hire a traditional professional, it is a good idea to choose a fee-only advisor instead of a fee-based expert as the fee structures can be simpler and have fewer possibilities for conflicts of interest.

The Art of Choosing Gift Baskets

When it comes to holidays and special occasions, gift baskets are a popular choice. They come in a variety of themes and different price ranges. This makes it easy and convenient to choose the right basket. Planning to send your friend, parents or co-workers a gift? Here are tips to pick the perfect gift and gift basket.

Gifts for Friends and Family

• Consider the preferences and tastes of the recipient. Do they like cooking or prefer easy-to-eat goodies? Are they sweet tooths or health nuts?
• Choose something special and unique. It has to communicate your feelings and express your love for the receiver.
• To make a lasting impression, send a gift that’s full of treats and foods – not fillers. If the recipient has food allergies (or special dietary needs), select something that they’ll enjoy.
• The gift basket has to be custom-made. Don’t pick a basket that isn’t customizable. Good packages look stylish and are assembled with care.
• Choose a gift shop that offers multiple shipping options. What you send should be received as you except.

Perfect Corporate Gifts

Corporate gifts nurture and improve loyalty, rapport and reputation. Often, the gift is sent to say congratulations, sorry or thank you. Whether the recipient is a client or business colleague, you must practice proper etiquette.

• Contact their company and ask if they restrict gift-giving. Certain companies have strict policies. It’s advisable to follow their rules.
• Have a gift card to avoid the “dreaded” mystery gift.
• Consider any dietary and religious restrictions.
• Gifts for colleagues and employees are okay – not gifts for the boss.
• Most corporate gifts comprise gourmet foods like cheese, chocolate, coffee, crackers, salmon and snacks.

Think About Their Favourite Things

Recipients have competing preferences. Some love salty items and others have sweet taste buds. Do they prefer wine to beer? Are the kids chocoholic or candy heads? Buy a gift basket that suits their tastes.

Look at Your Budget

Your budget dictates what kind of gift basket you can buy. No matter your budget, there’s a basket for you. Gift stores have a range of options, both cost-effective and high-end varieties. In fact, there’s a spectacular gift basket at every price point. Recipients won’t feel like they’re missing something.

Size of the Gift Basket

Consider spacious baskets with many flavours. For a unique and enjoyable gourmet experience, pick a basket with an assortment of sauces, pasta and flavoured oils. Baskets with an array of salsas, whether medium, mild or extra hot, are practical and satiating.

Style and Colour

Select a colour, style and shape that the recipient likes. The contents of the gift basket should be fascinating – not disgusting. Choose natural, organic or gluten-free products. Such gifts are indulgent and healthy. Folks with food sensitivity prefer something that’s not allergic.

Friends, family members and business associates expect a wonderful gift. What you should send them is an elegant gourmet, corporate or housewarming basket. When making your decision, use your best judgement and remember who you’re shopping for. Don’t risk breaking ties with an ally or kin because of yucky gifts. Lucky Bundle & Twine are locals and have some of the most sophisticated gift boxes & basket going around. See their full range at https://www.bundleandtwine.com.au/shop/category/shop-predesigned.

How to choose a home builder

Every Tom, Dick, and Harry wishes to have a lovely home, where they can raise their kids, entertain guests and retire peacefully. But what most people get is a house that turns out to be a nightmare. As your new home is a big investment, it’s prudent to choose a home builder who guarantees nothing else than quality. So instead of looking for the cheapest quote, seek excellent workmanship and exemplary design. Here are other factors to consider when separating the good from the ugly.

Reputation

We often see collapsed structures in the news. If you’re not careful, you may feature in the news, not as a reporter, but as a disgruntled homeowner whose house has just given way. Reputable builders are known for building durable, stylish homes and following construction standards. Check online reviews to identify whether the home builder is reputable or not. Also, look at pictures of their previous constructions.

Proficiency

Most builders produce sleek marketing materials, from flyers to videos, in an aim to sell their skills and homes. They provide some valuable information, but it’s almost difficult to know their expertise and quality of work. To get a comprehensive view, visit the building site. Look at the houses under construction or renovation. If you’re impressed with the work, proceed to hire.

Resale value

When you move out or sell your house, the resale value can make the difference between making money and losing money. Builders who construct quality homes have a good track record of resale values. Poorly built units tend to sell at low prices. Look at prices of houses when new and when sold on the builder’s website. However, note that a new house depreciates in value as soon as it’s occupied.

Build warranty

Not many of us know what a building warranty is. Basically, it’s an insurance policy given to the owner or buyer. It covers property defects. For instance, if the windows are not sealed properly or the pipes are faulty after construction, the builder is required to come and repair them. The developer should provide a warranty or guarantee scheme. If they don’t, your house may not be built to the set standards.

Specials

Often, home builders offer deals such as free furnishings. Some may pay your stamp duty or legal fees. These incentives can help cut the cost of building a house. But it’s more important to make sure you have a place you’re happy to live in.

Professional organisations

Expert builders are hard to find. But associations of certified builders have made things easier. Members of these associations are the crème de la crèmes in the industry. If your house builder is a member, then your construction will be in safe hands. Check with these organisations before hiring anyone.

Other projects

Builders are increasingly looking for ways to earn money on the side. One of their favourite side hustles is maintaining public spaces. If the builder owns or manages a communal space (hallway, garden or park), it shows they’re versatile. Besides, they can add value to your home, especially in the outdoor spaces.

As Reckless, are an Adelaide based blog we always like to give back to the community by recommending the top businesses on the topics we write about. If you are wanting to build your dream home, but struggling to select a builder, one of the top rated companies is Kookaburra Homes – builders.

Finding an artificial plant supplier

When starting your search for a new artificial plant supplier, the initial thought is to look for the lowest cost or the best price. However, it’s more important to look for the long-term value. Cutting corners won’t help if the products are sub-standard and they don’t arrive on time. Looking past the price, there are several areas to research before making your ultimate decision.

Product information

Detailed product descriptions can help you determine if the supplier has the products you require. If the supplier provides product specs, it shows that they are willing to be helpful, they value your time and are eager to win and maintain your business.

Accessible inventory information

The ability to know what inventory the supplier has currently is a big advantage. It is an indication of their ability to offer what you need and their commitment to have you as a customer.

Know their scalability

Find out how flexible the artificial plant supplier is when it comes to delivering high volume and small quantity orders. If you want smaller quantities to start out, you will readily find a supplier that provides that volume. When you scale to order large shipments, you will certainly outgrow your initial supplier. Knowing the growth pattern of the product you are obtaining before you choose a supplier will enable you to partner with a dealer that can scale with you.

Customer service

Expect the best and plan for the worst. Assess the customer service offered by each prospective supplier. If you are operating in a 24/7 economy that requires contacting the supplier during the day and in the night, factor this in your search. A deeper understanding of their return policy and contract language should be revealed as well. For example, look at http://www.artificialplantshop.com.au.

Payment terms

Identify a faux plant supplier that is willing to accept your payment requirements. As delivery timelines and long-term need can dictate billing options, don’t be shy to ask what you require to run your business efficiently.

Contactable references

As always, a reference from another business that deals with the supplier can shed light on their true abilities. A reputable supplier should have a list of content clients for you to call.

Check certifications

Most fake plant buyers overlook supplier certifications. Each project expands due to capability certifications and base quality. As suppliers don’t always make these available, check The Source Directory or Supply Nation to find a certified service provider and quality goods.

Delivery statistics

Ask for on-time delivery rates and lead time projections. If these can’t be provided, then it’s a good sign that the supplier is not being tracked or is not very good.

Distribution locations

Obviously, costs and delivery capabilities will differ depending on the locations a supplier offers. You can get a good deal from a smaller business with multiple suppliers or a single location.

Geopolitical impacts

If you order artificial plants from overseas, be sure to analyse the possibility of unrest in the countries you rely on. Political upheaval or fluctuation in labour relations can leave you without the required product.

How do you choose a good naturopath?

It’s surprising that most people are very good at shopping than they are at selecting a primary care doctor. But shopping is fun, and you only need a doctor when you’re seriously ill. Many of you may argue that way, but at the end of the day, your health is more precious than a new iPhone 8 or a pair of Louis Vuitton shoes.

Naturopathy has become popular and mainstream. However, navigating the healthcare system and finding the right naturopath is not as easy as shopping online or picking an item from the mall stalls. Because we care about your health and wellness, we’ve compiled some tips to keep in mind when looking for and selecting a naturopathic doctor.

Education

Naturopaths are graduates of accredited medical schools. They are certified practitioners, who are trained in alternative and conventional modalities. Also, they provide a holistic approach to health. That said, as a patient, it’s good to know where the doctor received training and education, and if they belong to a recognized association. Knowing the naturopath’s professional background and education can put your mind to rest as you consider them to be your healthcare provider.

Expertise

Most naturopaths double up as primary care doctors. Others specialise in different medical areas and receive comprehensive training. When looking for a physician, it’s crucial to know your health needs. Only then can you find a doctor who specializes in your area of interest. Knowing why the naturopath chose a certain area of medicine can also be eye-opening and enlightening. Therefore, have a conversation with your potential medic about their speciality, training, and professional experience.

Communication

No relationship can work without communication. Primarily, doctors should communicate with other providers and keep patients informed. Good communication between a patient, a doctor, and other health professionals is essential to good health and well-being. Important questions to ask your naturopath are: How will you communicate with me in between visits? And will you be communicating with my current doctor to ensure appropriate attention and care?

Online presence

Savvy naturopaths use social media to promote themselves, their expertise, and speciality. You too can use social media to know the practitioner better by seeing what they’re passionate about, what they write about, and how they impact the community. It’s an added advantage if the physician has an online presence, uses social media, and contributes valuable content that’s informative and understandable. A naturopath in Adelaide that is successfully implementing this strategy is Alex Fisher Health – naturopath.

Insurance

Many doctors, naturopathic and medical, prefer cash-payments to insurance. Wonder why? Well, insurance doesn’t cover certain procedures and it limits doctors from providing quality service. It’s great if the naturopath delivers exceptional service and care, whether you present insurance or pay out-of-pocket.

Personal health

Find out what the physician does to maintain and improve their health. After all, how can they take care of your health if they can’t take care of theirs? So ask them how their diet is, how they manage stress, what they do for physical exercise, and how their quality of sleep is. This is just one way to determine if the naturopath practices what they preach.

Finding a mortgage broker that is experienced in the financial industry can be a difficult task, as it is to get the right business loan. A reputable broker should provide support and guidance throughout the Business Loans Adelaide application and settlement process. Mortgage brokers can make it easier and smoother for you to acquire a business loan in Adelaide by negotiating different credit unions, banks, loans, fees, and grants.

Here are some tips to consider when selecting the right mortgage broker for your business loan:

Get recommendations from friends, or read testimonials and references from brokers

Positive testimonials or references from a previous client or friend about your mortgage broker can provide a great insight into how they will work with you. A broker’s ability to relate well with clients will enable them to explore the best options for each person depending on circumstances and individual needs. Meeting a broker personally is an excellent way to identify how the broker operates and assess if they are right for you.

Charges

Apart from standard lending fees, ensure that the advice and service offered by a mortgage broker are available to you at no charges. Adelaide brokers should give you professional advice, prepare documents, submit applications and help you to apply for incentives at no additional costs. In case they charge an upfront fee, ensure they clearly explain what you are paying for. It is necessary to clear with your mortgage broker about all fees. A good mortgage broker should give you a clear outline of every expenditure during the process of acquiring a business loan and explain why and how each fee applies.

Access to Lenders

Find out the number of lenders a mortgage broker has access to. Ensure your broker has access to big banks, credit unions, and even smaller institutions. All lenders are distinct, just like every business loan, and having access to various options through many different mortgage lenders means that you will be able to get the right loan for your business.

Focus on your best interests

Make sure your mortgage broker matches your circumstances with the perfect business loan for your situation. A broker should be able to select a business loan that is the right fit for your needs and focus on putting you first.

Reputation

Qualified and registered brokers are able to offer protection and educated advice if any problems arise with the loan. Make sure you ask your mortgage broker about their qualifications and experience. A professional mortgage broker should update you on all the latest rates with the property market and their lenders.

A mortgage broker is responsible for providing detailed explanations of the business loan process and a clear comparison of business loans, features, and fees.

Overall, a good mortgage broker should help you get the best business loan by:

– Advising you about your financial goals and situation

– Finding and explaining available financial options for you

– Working with you to get approved for a mortgage after deciding which loan you want

– Helping you to complete your loan application, credit report, financial information, confirmation of employment and wages, and other documents the mortgage lender needs

Once the loan is approved, the mortgage broker should review all the loan documents before signing them, organise the property evaluation, and act as a link between you and the lender till the closing day.

Welcome to Reckless Adelaide! It’s our mission to give our viewers the most relevant and up to date information about what is happening in Adelaide, South Australia.  We examine various different industries throughout Adelaide and give tips on how your business can thrive in an ever competitive market. It’s our ambition to become the most reliable and relevant source of information in Adelaide’s market! Our staff members have worked incredibly hard in the pre-launch phase to gather intelligence about different trends happening right now in Adelaide, and more importantly how you can ride the current!