Exposing Unacceptable Financial Advice
Jim McSoriley and Suzanne Edmonds have set up this action group (Sept 2007) to gather examples of rotten advice.
Here are some excerpts from the article in the papers around September 13 2007.
•"They treat you like a fool."
•"...there are plenty of mum and dad investors looking for answers right now. What can they do if they feel let down by a financial planner?" ...WE CAN FIGHT BACK...that's one thing we can do.
•"I think the financial advisers have to be held accountable."
•"Those who have seen their life savings evaporate can at least learn how the adviser industry covers its behind."
•"...either investors should act like an owner or just stick their savings in the bank." GOOD ADVICE... a bit late though
•"Then there is the other side - the disciplinary measures and compensation if things go wrong."
The main page...
investors warning
...has lots of good advice!!
•Focus You will need a clear account of the problem and its cause.
•Exhaust a company's internal compalints procedure first.
•Go to the top Send letters to the boss by name, not customer relations.
•Try to remain unemotional A systematic approach works best.
•Do not be discouraged by lawyers letters. They are a standard tactic.
•Seek help from others Who else has been through the same hoops.
•Investigate all other avenues of redress before heading to court.
All that from the newspaper article, to which can be added...
•Spread the messsage ie, if you have your own web page, put on a link to this page - either openly, or discreetly - the HTML code that follows will put a dot on the page that the search engines will find and so improve this page's ranking!
<a href = "http://geocities.com/investors_warning/eufa">.</a>
Your Experiences
(email to weareATactivistDOTcom)
•The advert said "The return OF your investment is as important as the return ON your investment"... What a lie
•The hardest part is acknowledging that I have been gullible and been taken in by the silver-tongued snake-oil seller. So it is my fault maybe.
•Reality check. Share market investors have to cope with fluctuations and possible major losses. But we are still upset.
•How is it possible to lose over 50% of the value of a commercial property? It has happened to many of the syndicates promoted by Money Mangers through Dominion Funds. Meanwhile the principle owners personal wealth has doubled.
EUFA official page is at..click
More later
gruefool,alludition