Friends Provident International - Global Wealth Advance (Advice needed)

[Vapor96]

I was recently introduced this product by a Finexis agent. Main selling point promoted by the agent was the access to private banking funds (BlackRock) which is unavailable to the general public.

I would like to know if anyone have any experience with this product and what's your thoughts? What should I consider when evaluating this product or should I not be even bothered to look at it?

Appreciate any comments and feedback please. Thank you very much!

 

[Dividends Warrior]

How much are the returns?

 

[Vapor96]

How much are the returns?

Thanks Dividends Warrior.

The agent mentioned a projected annual return of about 6% after taking away management fees etc.

Another point mentioned was on the diversification into different markets the fund is able to provide. Wondering what's your point of view regarding that, compared to just investing in Singapore stocks.

Many thanks.

 

[Shiny Things]

I was recently introduced this product by a Finexis agent. Main selling point promoted by the agent was the access to private banking funds (BlackRock) which is unavailable to the general public.

I would like to know if anyone have any experience with this product and what's your thoughts? What should I consider when evaluating this product or should I not be even bothered to look at it?

Appreciate any comments and feedback please. Thank you very much!

The fees. Oh my god the fees!

You're paying 1.2% per year, plus the fees on the underlying funds (up to 3% per year), PLUS 6% per year of the first 18 months' premiums (!!!). I don't care how good the underlying funds are; if your fund returns 10% a year but you're paying 10.2% per year in fees, you're not going to be happy with that.

Plus the surrender charges are extortionate.

If you want to invest in overseas markets, you can do that yourself with a Stanchart brokerage account. If you want to invest in funds that aren't available to the general public (so they must be special, right?) just remember that the average hedge fund - which is the ultimate unattainable investment - has underperformed the broader stock market over the last five years.

The only person who'll make money out of this thing is TNL@TB (The Nice Lady At The Bank).

 

[chopra]

1. If you are so convinced by the main selling point, why not u buy its stock.
BLK: Summary for BlackRock, Inc. Common Stock- Yahoo! Singapore Finance

2. Wait, before you do that....
Do you know they are one of the major shareholders of blumont too?

"Main selling point promoted by the agent was the access to private banking funds (BlackRock) which is unavailable to the general public" == sure win?

Shareholders Major A33 Blumont Group Ltd including Fund and Institutional

 

[Vapor96]

Thanks all! Wow, I just realized on the 6% fees on the first 18 months. Very smart of them to list as 1.5% per quarter instead. Plus that 18 month investment is a lock-in for 25 years. Definitely not too comfortable with that.

Would I be heading the right direction if say I look at diversification through foreign ETFs via the Standchart account? That will probably give me better control over what I want to include in my portfolio compared to leaving that to a fund manager.

 

[focus1974]

I was recently introduced this product by a Finexis agent. Main selling point promoted by the agent was the access to private banking funds (BlackRock) which is unavailable to the general public.

Yes.. I guess you are attracted to the PRIVATE BANKING FUNDS NOT AVAILABLE TO THE GENERAL PUBLIC.

Wooo... EXCLUSIVITY.. Invest like the RICh..

I'm glad to tell you I am using PRIVATE BANKING (SWISS BANKS) and I am considered the "RICH/HNW".

I AM USING plain vanilla BONDS and STOCKS after trying out almost every product type recommended. People can say I'm using it wrong, so be it. I'm just speaking from my own personal experience.

Thank you very much.

The Wealth Journey