.We want to deposit around $500 / Month in fund for my son who is 3 years old, Long term – about 15 years.
I went to the Bank and had a meeting with a financal advisor who is asking for $550 to prepare a portfolio for me.... Maybe I can find someone slightly cheaper to make me a protfolio but I really think I don't need one (I have made one overseas, paid the money and never took the advise).
I think that if I will have the information, I will be able to make the decision myself. In my home country you can go to the bank, and choose between some options – high risk, low risk, solid fund etc. You get the funds names, invesment areas and the performances over the years and then you choose. Most of the time you close the money and make the depostis for 2 – 5 years and then reassess the conditions.
Is there anything similar in Australia? Can I join to a fund and deposit each month money and that's it? where can I get the information (funds preformences, how they share the investments etc).
Any help, tips will be much appricated.