Picking a Broker - 3 things to look for

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In this video I cover the 3 key things you should look for in a broker when deciding who to invest with. I’ll also talk about my upcoming change in trading platform. Sign up to my weekly newsletter: sanjee.substack.com
Join me on other social channels:
Twitter: / sanjeesen
Instagram: / sanjee_investing
TikTok (yes really): / sanjeesen2020
My website: www.sanjeensen.com
Timestamps:
0:00 - Intro
1:00 - Disclaimer
1:23 - Previous videos
1:52 - What do brokers do?
3:18 - What brokers don’t do
3:48 - Share registries
4:21 - Transaction cost / brokerage cost
5:36 - What were they thinking?!
7:03 - Share sponsorship
7:26 - CHESS model
7:49 - Custodian model
8:52 - What if you switch?
9:33 - The 2 questions
10:00 - Features you need
10:23 - Spectrum of investors
11:47 - What the pros need
12:01 - International investing
13:16 - Casual investors
14:00 - Taxation reporting
15:18 - My plan to move
16:56 - Other videos
17:25 - Newsletter
CHESS Sponsorship vs Custodian articles for further reading:
ABC News article: www.abc.net.au/news/2021-03-0...
CommSec article: www.commsec.com.au/support/fr...
SelfWealth article: www.selfwealth.com.au/what-is...
My setup (Australian Amazon Affiliate links):
Canon 80d camera and lens: amzn.to/2He8SS6
Rode Main mic: amzn.to/3t1F2Uk
Rode mic (lapel): amzn.to/2TdeDBX
Useful links:
Australian Government website on personal finances: moneysmart.gov.au
Disclaimer:
The information provided in this video is general in nature only and does not constitute personal financial advice. You should also consider seeking the advice of an investment advisor who holds an Australian financial services (AFS) licence or is a representative of an AFS licensee. Be sure to work with someone who understands your investment objectives and tolerance for risk. Your investment advisor should understand these products, be able to explain whether or how they fit with your objectives, and be willing to monitor your investment alongside you. There are some Amazon Affiliate links above - if you purchase from there, at no additional cost to you, I will earn a small commission for each sale.

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Опубликовано:

9 июл 2024

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Комментарии : 31

@nelsongomez3322 2 года назад

Sanjee you are a legend learnt a lot from you Hood on with dealing with shares.

@NP-ut8dw 3 года назад

Awesome content Sanjee. I really like the way you explain things "casually" :)

@OffGridInvestor 9 дней назад

FYI the ones charging the 0.2% of your HOLDINGS is Vanguard. That's who he was talking about.

@AngelicaKB Месяц назад

Thank you!❤

@huzlfinance 3 года назад

Learnt so much from this video Sanjee. Thank you.

@damtse5595 3 года назад

You are inspirational...very good and clear especially for beginners like me

@anarchyanimal666 3 года назад

Love the Channel Sanjee! Keep up the great work. New to investing, would love to hear more about the casual buy and hold investors and appropriate low cost platforms. Vanguard Personal investor looked good but I saw you mentioned their 0.20%pa fee. Considering $0 brokerage on ETF's, and say a low management fee of VAS, I though this would still be very competitive with other platforms. Looking forward to future videos my friend 👍🏼

@sanjogbaniya2020 3 года назад

Thax sanjee

@SatishParulekar 3 года назад

Hi Sanjee can you guide on Vanguard fees change from 18 Aug 2021

@jiti5034 Месяц назад

Is it true that the free brokerage ( US shares) happens only because they get paid by market makers and your order does not go to the actual market>? also what about Interactive Brokers

@sanjogbaniya2020 3 года назад

I’m going to SelfWealth

@Nandu37793 3 года назад

Hello could you please make a video on option trading via ComSec app. Thankyou

@YoHo18 3 года назад

Hi Sanjee, have you made the with to the new broker yet? Also if you could please talk about CHESS HIN and Custodian. also, why there is some noise about getting rid of CHESS in Australia? Thanks mate..

@FrankFastin 2 месяца назад

Your live video please

@FrankFastin 2 месяца назад

Please sir am very new here , how can I start

@noonoo4774 2 месяца назад

What is the broker who charges a fee of the entire value of the account?

@wojak1921 3 года назад

Hi Sanjee, I've started watching your videos and I'm wondering if you have any sort of advice for someone my age, I'm nearly 15 and I'm not sure what I should start doing, whether I should get a custodial account so I can start investing every month or if I should wait until I'm 18.

@NatPK 3 года назад

Hey Sanghee, can you do a video on how take history of your stock growth? Like do you use a diary or journal? Thanks for the great content, always 👌

@saifulalam799 2 года назад

Hi Sanjee, Is it worth using different brokers investing in the same ETFs stick to the same broker where same ETFs were originally used. Have used CommSEC, now looking at SelfWealth and/or Vanguard to use as brokers. Can you share your opinion?

@ggbogo935 8 месяцев назад

VPI isn't CHESS sponsored and charge an annual account fee based on your portfolio holding. These reasons alone I'd go with someone like CommSec or Selfwealth.

@kellnertommy 2 года назад

Hey there great work thank you . Can you suggest broker for trading options from Australia please ?

@SanjeeSen 2 года назад

Hi Tom, sorry I don't do options so not sure....but I think CommSec does have a section for options trading. I haven't used it though.

@kellnertommy 2 года назад

@@SanjeeSen thank you :)

@lolalola1349 2 года назад

Hi Sanjee, have you moved from Commsec to your new platform?

@sheilawidjaja7331 3 года назад

Hi Sanjee. Love your video. I just have a quick question: what is your opinion of having Vanguard as your brokerage account? I'm a beginner investor and I have been advised by a qualified financial planner, in which I found from the ASX website, to invest via that platform and, rn, I'm a bit wary of going against his advise of using anything else. The reason why I'm leaning towards Vanguard is because, rn, I just want to be as safe as possible by following what that financial adviser said to me, as I am a complete beginner at investing and do not want to take many risks yet. If you can share me your thoughts on this matter, that would be great. Thanks.

@adamcrowe2353 3 года назад

The Vanguard platform charges a fee of 0.20% to manage your holdings (I believe Sanjee is critiquing Vanguard's brokerage model at 5.56). This is in addition to the individual ETF fees you must also pay. Also, Vanguard uses JP Morgan as a custodian. This means you do not receive a HIN for your holdings and what happens if the custodian ever collapses? Using a CHESS sponsored broker that charges a flat fee per trade such as Open Trader ($5 per trade) or SelfWealth ($9.50 per trade) will likely save you a ton of cash if you are investing for the long term.

@AshParajuli86 3 года назад

@@adamcrowe2353 I mean Vanguard isn’t going to collapse but I do agree their pricing is whack, and it’s likely catered to ripping off the Super Wealthy who couldn’t care less about fees. Yes there are people out there who pay exorbitant fees cos they just trust the name and don’t consider the fact there’s huge management fees. Vanguard ETFs are for everyone but their platform is not for everyone.

@adamcrowe2353 3 года назад

@@AshParajuli86 cheers Ash. I completely agree with you. And you’ve highlighted an important distinction between Vanguard’s products (which are excellent) and their Aus-based brokerage service which we are currently discussing. And I should clarify that I wasn’t hypothesizing a scenario where Vanguard goes under, rather the custodian (JP Morgan in this case). As far as I’m aware, it’s much safer to use a CHESS-sponsored broker whereby you are the owner of your holdings as opposed to the custodian model where you are reliant on them to hold your assets on your behalf. Please let me know if I have misinterpreted either modeling structures.