iFAST Global Markets (iGM) Disrupts the Financial Market With Fee Transparency

Investors love financial advice but hate paying for it. This attitude leads them to seek advice from sources that claim to be free.

But the reality could be quite different. Your provider of free advice could be earning substantial sums from other sources, including commissions.

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Some investors are quite comfortable with this arrangement. They hold the view that as long as they are not being asked to pay any amount for advice, their returns remain unaffected.

However, this attitude is short-sighted and could have adverse effects on your investment decisions, as your advisors are incentivised to maximise their commissions, instead of your returns.

Does this mean that you should shun financial advice altogether? Certainly not. On the contrary, sound financial advice that takes your individual circumstances and goals into account can be invaluable and well worth the fees and charges that you pay.

Singaporeans are more open to advice than their global counterparts

In fact, Singaporeans are very enthusiastic about seeking financial advice. A survey conducted by Legg Mason, an asset management firm headquartered in the US, has highlighted some very interesting traits that Singaporeans possess.

The survey covered 15,300 investors in 17 countries across Europe, Asia Pacific, Latin America, and the US. A mix of high net worth individuals and those with lower investible surpluses were polled. The percentage of Singaporeans who consult financial advisers is the highest in the world. Against a global average of 46% of investors who seek advice from professionals, 61% of Singapore’s residents take counsel from financial experts.

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That said, the decisions that many of Singapore’s citizens make regarding their investments are still strongly influenced by the global financial crisis of 2007-08. This pessimism affects the manner in which a full 63% of Singaporeans deploy their funds. Only 56% of global investors hold the view that their investments may suffer because world markets may fall as they did about a decade ago.

Perhaps this is why Singaporeans prefer to hold large amounts of cash. About 38% of investment assets are allocated to cash and cash equivalents, compared with the global average of 33%.

At the same time, however, Singapore investors continue to invest a significant proportion of their assets in equities (19%) and in fixed income securities (17%). The global average for both these asset classes is 18%.

This is how iFAST Global Markets (iGM) is changing the investment landscape

Set against this backdrop, iFAST Global Markets (iGM) wants to transform the market by offering the benefits of fee-based financial advice, on top of its other services, to its customers.

And, they are doing so by providing Singapore’s investors with complete fee transparency. Individuals who use the services of iGM to deploy their funds in investment products will be told the exact sums that they are being charged directly.

Every investor is provided with a detailed explanation of the fees and charges that are payable. The firm promises that there will not be any unpleasant surprises after you sign up.

iGM also offers one of the lowest processing fees rate for stocks, starting from a low of 0.06% of the contract value of the stock order, subjected to a minimum of S$10.

Enjoy unbiased financial advice with fee transparency from iGM now.

The iFAST Global Markets (iGM) difference

One unique offering by iGM is its Wrap Account. The Wrap Account allows you to have all of your investments like your unit trusts, ETFs, bonds, and stocks in one investment account.

When you open a wrap account with iGM, you will be entitled to switch between unit trusts for free. That means you only incur an upfront setup cost when you first invest in unit trusts.

Your investment advisor who manages your account will have a complete overview of your portfolio, which allows them to be best equipped to advise you on your asset allocations. Also, since the fees to the advisor are based on a percentage of the value of all investment products in account, the investment advisor’s incentives are aligned with yours – to maximise the returns on your account.

That is the true value of having good financial advice for your investment portfolio.

In the case of insurance products, iGM receives remuneration in the form of commission from the insurer. For as long as iGM receives commission from the insurer, the company will pass on 25% of the commission that it receives to you.

Get good financial advice now. Get it from iGM.

Maximising returns through fee transparency

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In their quest to maximise returns, many investors seek financial advice from sources that are ostensibly free. Instead, they should try and understand how their advisor makes money and make it work in their favour.

The high level of transparency that iGM provides is hard to find elsewhere.

Knowing the precise amount that you are paying for financial advice provides a great degree of comfort, and the information can be of great use in planning your future investments and working towards maximising your returns.

Keen to enjoy unbiased advice? iGM’s advisors are focused on providing transparent, ethical and suitable advice to all investors while reducing commission bias.

Get in touch with iGM’s team of experienced and dedicated investment advisors now.
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