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Investor Education > Separately Managed Accounts > Separately managed account costs

HOW MUCH DO SEPARATELY MANAGED ACCOUNTS COST?

Changes in technology have made separately managed accounts more affordable for the average investor - with minimum investment amounts as low as $5,000. There are a number of separately managed accounts offered by different dealer groups and fund managers that are typically available only via financial advisers. As a result, fees can vary widely across separately managed accounts and should be checked closely; many advisers will charge up to 1% pa adviser service fees which can eliminate the cost advantages.
 
Generally, an SMA fee structure includes one or more of the following types of fees:

  • Administration
  • Management
  • Performance
  • Adviser (unless you choose a direct option)
  • Brokerage

Check separately managed account fees and charges carefully. Some fund managers may add transaction, custody and account maintenance charges that are higher for small investors than would normally be the case in a managed fund. The costs of investing in a separately managed account may be slightly higher (depending on which service you choose) than direct trading, but there is a wide variation between separately managed accounts.

2020 DIRECTINVEST offers a direct access separately managed account called the 2020 DIRECTINVEST BlueChip Series with total fees of less than 1% pa. This allows investors to pay a separate professional fee for advice if and when you need it.

 

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