In regular foreign investment, you have to sign up with a financial institution. One such financial institution is Metis Global Limited.
Metis Global is not as famous as other well-known financial institutions such as Investors Trust (ITA) and RL360°.
However, it is a financial institution for offshore savings investment that many people can sign up with. In that case, is Metis Global worth signing up?
To conclude, the product of Metis Global is quite poor compared to other financial institutions. If you are already subscribed, you have no choice but to give up, but if you are not, you should not buy it. I will explain the reasons for this, including their reputation and reviews.
Table of Contents
- 1 Metis Global Limited in Hong Kong
- 2 Definitely Avoid Metis Global Limited’s 30 Year Contract
- 3 No Benefit to Subscribing to Metis Global in Hong Kong
Metis Global Limited in Hong Kong
Offshore investment is to manage assets in tax havens (offshore) where there is almost no taxation. As a tax haven, it attracts a lot of investment money, which makes it possible to achieve high yields that are impossible to achieve in your own country.
One of the largest offshore regions in Asia is Hong Kong, and Metis Global Limited is an offshore financial institution based in Hong Kong. The following is a list of tax havens in the world, and Hong Kong is the most famous one in Asia.
Also, for offshore investments, you will be contracting with an IFA that is located in a tax haven. Since Hong Kong is an offshore region, Metis Global Limited, which is registered in Hong Kong, has the advantage of easy access to agents.
You Can Only Choose Athena Best as an IFA
However, Metis Global Limited is not a worthy financial institution to sign up for regular foreign investments. One of the reasons for this is that you can only choose Athena Best as your IFA (Independent Financial Advisor).
Whenever you invest offshore, you need to apply through an IFA. There are a number of IFAs, and the important thing to remember is that the investment performance will be completely different depending on the IFA you contract. This is because the IFA will give you instructions on asset management.
The securities companies in your country do not manage your assets. Brokerage firms have a large number of investment funds such as global stocks, emerging market stocks, real estate, gold, etc., and customers choose where to invest from among them.
In the same way, Metis Global Limited has several funds. From these funds, the IFA chooses which funds to invest in and manages the assets.
Even if the client wants to change the agency because the investment performance of the IFA (Athena Best) is not good, it is not possible because there is only one IFA that can sign a contract with Metis Global Limited. Naturally, not being able to change the IFA is a big disadvantage.
-There Are Only a Few Funds to Choose From
Moreover, Metis Global has an unusually small number of funds to choose from.
For example, you can choose from more than 200 funds at other financial institutions, including Investors Trust (ITA) and RL360°. By selecting the most suitable fund from among them and building your own portfolio, you can achieve an annual interest rate of over 10%.
In my case, I have subscribed to Investors Trust, and the annual interest rate is 24.1% for the past five years as shown below.
However, with Metis Global Limited, there are only a few funds, so you can’t choose enough to invest in. This makes it nearly impossible to aim for an annual interest rate of more than 10%, so the investment performance will inevitably decline.
Intelligence Fees at Metis Global Are High
Among those who recommend Metis Global, there are many people who emphasize that the fees of Metis Global Limited are very low among offshore savings investments. However, this is a lie. This is because they only explain part of the fees.
When you invest in Metis Global, you will sign up for a financial product called Intelligence. The following is a list of all the fees for this product.
-Plan Fee: $84 per Year
No matter which financial institution you invest in, you will be charged a fixed monthly fee. At Metis Global, this is $84 per year.
The plan fee is not important at all because it is so small that it can be ignored when the investment amount becomes large.
-Management Fee: 1.44% per Year
Metis Global Limited charges a monthly management fee of 0.12% on assets under management. Therefore, the annual fee is 1.44% per year.
For a typical offshore investment, the annual management fee is 2.5~3%. Therefore, people who recommend Metis Global Limited say that “Metis Global’s fees are low”, stating only this figure. However, in reality, there are other fees as well.
-Maintenance Fee: 0-1% per Year
Apart from the annual management fee, Metis Global Limited will charge a maintenance fee. This fee ranges from 0 to 1% per year on the assets under management.
If the maintenance fee of 1% is charged, the total annual fee will jump to 2.45%.
-Initial Account Fee: 4.8% per Year
There is a concept of an initial account in any offshore investment. The initial account is the portion of funds that you accumulate in the first two years.
Metis Global charges an annual fee of 4.8% of the funds in the initial account. Since this is a very high fee, especially at the beginning of the accumulation period, the initial account fee will almost certainly result in a negative investment.
-Credit Card Fee: 1%
Not only that, but there is a credit card fee. In many cases of offshore investment, you will have to pay by credit card and invest your money in a financial institution overseas. There are many financial institutions that do not charge any fees for credit card transactions.
However, Metis Global charges a credit card fee of 1% of the settlement amount. In other words, 1% will be automatically deducted from the settlement amount you invested.
Loyalty Bonus Is Extremely Poor
When you look at the details like this, you will be able to understand that there are so many fees, and Metis Global Limited does not have a low commission rate, but rather its fees are more expensive than other financial institutions.
Moreover, the royalty bonus is by far the worst. Although the fees are reasonably high for offshore investments made with other financial institutions, the loyalty bonus is also set at a high level, such as 6% of the total accumulated amount. Therefore, you can offset the commission by receiving the loyalty bonus.
In the case of Metis Global, on the other hand, the bonus is poor as follows.
-Initial Account Bonus
Metis Global will pay out an initial account bonus depending on the number of years of subscription. For example, if you subscribe to a 30-year plan at $1,000 per month, you will receive an initial account bonus of $13,500.
With such a bonus, you will feel like you are getting a great deal. However, as mentioned earlier, 4.8% of the initial account is the annual fee. In other words, the commission will increase by the amount of the initial account bonus; if you have a 30-year contract, the total commission rate will be 144%, and you will find that you are losing money by the increased commission.
- 4.8% × 30 years = 144%
Metis Global offers a 1% Loyalty Bonus every 5 years if there is no reduction, stopping or withdrawal.
However, other financial institutions usually offer a loyalty bonus of 5-7% on the total amount of accumulation. Compared to this, you can understand how low Metis Global’s bonus is.
Metis Global also returns the plan fee ($84 fee annually) at maturity if no withdrawals are made. However, as mentioned above, there is no point in including this in the bonus since it is a small amount and not important as a commission at all.
Definitely Avoid Metis Global Limited’s 30 Year Contract
The more we review the details of Metis Global in detail, the more we realize that its details are clearly inferior to other financial institutions.
What’s worse is that the referrals of Metis Global Limited are shoddy and fraudulent. In fact, anyone who recommends you to subscribe to a 30-year plan when recommending Metis Global is definitely a fraud.
Usually, offshore investments are signed for 20-25 years. If you are an older person, you have to sign up for a shorter plan. The reason is that when you are old, your income will stop due to factors such as retirement.
Regular foreign investments can increase your money if you continue to invest without reducing, stopping, or withdrawing until maturity. If you reduce or stop your investment midway, you will lose the loyalty bonus, and you will be charged annual management fees; as a result, you will surely lose your principal.
In such a case, for example, if you are 40 years old and have a 30-year contract, you have to keep paying until you are 70. Even if you retire and your income stops, you still have to keep paying, so you must not sign a contract for 30 years.
Even if the contractor is young, if the contract is made at the age of 30, the contractor will have to pay until the age of 60. Essentially, the contract should be for a shorter period of time. An introducer who only recommends a 30-year plan is just thinking about the commission. Therefore, it is not worth purchasing.
Termination Fees Are Quite High
However, even if you can understand that Metis Global is not worth buying for many people, some people may have already signed up with Metis Global Limited. In this case, you have no choice but to give up and continue paying until maturity.
Or if the contract is no good and you have been subscribing for only a few years or so, consider it as a learning experience and cancel the contract. However, it is important to understand that Metis Global’s cancellation fees are very high.
As mentioned earlier, money is initially saved in the initial account. If you cancel your account in the middle of accumulating the initial account, there is no surrender value. In other words, you will not get your money back.
On the other hand, if the initial account is terminated after the first two years, some money will be returned to you. However, if you cancel the account in the middle, you will forfeit most of your initial account funds. For example, if you cancel within 10 years, you will not get back more than 50% of your initial account. If you cancel within 5 years, you will forfeit more than 70% of your initial account.
The initial account is a sacrifice to keep investing until maturity. Therefore, early cancellation must be avoided, and a 30-year contract is too long. However, if you have a contract with bad content, consider cutting your losses.
-Switching Is an Effective Method
Alternatively, you can choose to switch to a financial institution that offers lower fees and superior asset management.
As I have already mentioned about the funds in the initial account, you will get almost no return. However, you can get back the rest of the money. You can use the money you have accumulated to invest in a new offshore account. If you do this, you will be able to start investing under favorable conditions, and you will finally be able to manage your assets at an annual interest rate of over 10%.
No Benefit to Subscribing to Metis Global in Hong Kong
Metis Global Limited is a Hong Kong-based company, and to be honest, its main product, Intelligence, is not worth subscribing to because it is clearly inferior to other offshore investment products.
- There is only one IFA, Athena Best.
- There are very few funds to choose from.
- The commission is very high.
- Lack of loyalty bonus.
- The cancellation fee is high, and the initial account amount is almost non-refundable upon cancellation.
As you can see, there are only disadvantages. Another feature of Metis Global is that there are many fraudulent introducers who try to get you to sign up for a 30-year contract despite the lack of benefits.
If anyone recommends Metis Global, they are either a scammer or ignorant. In fact, the reputation and reviews of Metis Global are very bad.
It is true that you can get more than 10% annual interest by investing in offshore savings, but if you subscribe from a bad financial institution, it is impossible to manage your assets. In any case, just understand that you must not subscribe to Metis Global for offshore investment, and try to sign up with other financial institutions.