Seeking your sound investment advice

Discussion in 'Share Investing Strategies, Theories & Education' started by momentum26, 6th Jun, 2020.

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  1. momentum26

    momentum26 Well-Known Member

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    Any personal experience with using SelfWealth? Any pros and cons are appreciated from anyone who is following this thread is willing to share.
     
  2. geoffw

    geoffw Moderator Staff Member

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    They're fine.

    As has been pointed out, they're not as good as the more expensive brokers if you need access to your money quickly. CommSec, Nabtrade etc allow you to sell shares, and then to use the proceeds immediately, even though the trade doesn't settle for two business days. For SelfWealth, you need the cash in your account to buy more shares - you will have to wait the two days to use the proceeds to buy more shares.

    While it doesn't matter to me, people say that CommSec and the like have much more information available to help analyse shares. You may want to have some shares purchased through your mainstream broker just to have access to this information.
     
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  3. momentum26

    momentum26 Well-Known Member

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    Thanks Geoffw. I appreciate your input.
    I wonder if simply signing up with CommSec will avail the information relating to share analysis without having to book a trade? Shout out to any CommSec users following this post.
     
  4. mtat

    mtat Well-Known Member

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    You won't need any analysis/data when in investing in LIC/ETFs. It's just useless noise.

    SelfWealth does the job and is the cheapest. They also have a lot of distracting noise (statistics, comparing your portfolio to other users, lots of useless stuff), but I only log in every 2 months so it doesn't affect me.
     
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  5. momentum26

    momentum26 Well-Known Member

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    Thank you, mtat.

    With respect to your purchases do you follow any specific rule/method? For example if you have block of $5000 to make a purchase, buy a given LIC only if the share price is at discount (lesser than NTA). In case of share price trading at premium, you'd rather put those funds into your other selected ETF. Or would you just buy without worrying about the NTA at that time.