It’s not the fees you see that hurt — it’s the ones you don’t.Most investors think they understand what they’re paying for — a simple management fee and maybe a performance fee if things go well. But that’s only the beginning. In this episode, Tim Ellis and Brodie Haggerty unpack the hidden side of investing — the costs that quietly eat away at your returns without ever showing up on your fund statement.From currency hedging and tax drag to behavioral biases and index front-running, we explore how seemingly invisible forces can have a real impact on your wealth over time. You’ll learn how exchange rate movements can distort your overseas investments, why trading frequency affects your after-tax returns, and how emotional reactions to market swings can sabotage even the best strategies.Whether you’re managing your own portfolio or simply want to understand your KiwiSaver or managed fund better, this episode will help you see where the real money leaks happen — and what you can do to plug them.You’ll learn:Why low advertised fees don’t tell the full storyHow currency movements can boost or crush your returnsThe tax traps hidden inside high-turnover fundsHow investor behavior can cost more than any management feeWhy “front-running” the market can impact index fund performanceIf you have a question, suggestions, or a topic you would like us to cover, please send an email to: [email protected] More Dollars & Sense Content: Click HereListen to all The Dollars & Sense Podcasts: Click HereThe information shared on The Dollars & Sense Podcast is general in nature and does not consider your individual circumstances. Dollars & Sense exists purely for educational purposes and should not be relied upon to make an investment or financial decision. Tim Ellis (FSP778196) and Brodie Haggerty (FSP778174) are both Financial Advisers providing advice on behalf of FoxPlan Ltd. FoxPlan Ltd (FSP39630) is a licensed Financial Advice Provider. Important information can be found at www.foxplan.nz/disclosure

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