Investing in Unit Trust is easy. Like all things worth doing in life, you may need to climb a little learning curve. Do not be discouraged, the time investment you put in will reap many time return.
An investment in knowledge always pays the best interest.
- Benjamin Franklin
If you are reading this I can assume you know how to get online and is perhaps looking to do self-directed investing online. (Sorry for the jargon, it simply mean investing yourself).
In this first installment on Unit Trust Investing, I will introduce how to get started.
To begin, you need to have an investment account with one of the online unit trust vendors.
Using online Unit Trust sellers offers certain advantage over going through an agent or bank such as,
- Lower transaction cost. Without a middle-man commission, most retailers pass the discount the saved to the customer.
- Buy any time. Most working professionals research and make purchase at the comfort of their home at night.
- Less pressure. Bank counter staff or agent can be pesky and pressurizing and their recommendation may not be in your best interest.
I personally recommends FundSuperMart (Shouldn’t they be paying me for sending customers to them?)
Other online vendors I know are Finatiq, DollarDEX and POEMS.
Even if you do not know anything about unit trust, get an account first. It will keep you excited and want to learn more.
Go ahead and setup an account with one of them. Or if you are like me, with all of them.
Any comments on the online retailers or tips for beginners? Share a comment.
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I’m pretty new to the investment scene and is considering online investment because of savings in charges and I’m able to analyse the funds myself.
I already have a financial advisor from Phillips Securities assisting my portfolio. So it’s probably more convenient for me to directly use POEMS instead.
But how does POEMS compare to the other online retailers like Fundsupermart?
Cheers
POEMS is actually pretty good compared to the pure online fund retailers. I’m surprised that they do not promote it as much.
They recently ran a promote and the sales charges are even lower then FSM.
If you already have an advisor from Philips, definitely go with POEMS.
I’m in the process of preparing a comparison chart. Stay tuned!
Ken, did you ever prepare that comparison chart?
Thanks!!