Dear Mr. Tan
I am currently on an Asset Builder plan. The agent has recently contacted me to
switch to another fund for better return, with one-time sale charge of 4%. The additional service provided is that the agent will switch the funds on my behalf, so that I do not have to monitor my investments. Is this true ? How can I monitor the funds by myself?
REPLY
Each time that you switched funds, you suffer a loss of 4%. A large part of this fee is paid as a commission to the agent. It is unlikely for any person to advice you on how to switch funds and earn an additional 4% to cover the front end fee.
There is no need to monitor your investments. You should invest for the long term and avoid the costly switches. You should consider making a complaint for this type of bad advice.
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