Accountants

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From: Mike .


Count Wealth Accountants
From: Eskay
Date: 03 Feb 2001
Time: 09:32:47

We are just starting out in the I/P game. Have done lots of reading etc and now looking to put theory into practice. One stumbling block we have come against is finding a good financial adviser/accountant. We have lined up an interview with a member of the Count Wealth accounting group and would welcome feedback anyone has on the company and/or recommendations for someone reputable in the Melbourne area.

Thanks, Eskay

 

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Paul Murphy

Reply: 1
From: Mike .


Re: Count Wealth Accountants
From: Paul
Date: 03 Feb 2001
Time: 14:36:21

Eskay,

It's interesting that your first contact will be with someone from Count. Count was established by a man named Barry Lambert, who is one of the strongest opponents of investing in property that I have come across. Jan Somers will remember him I'm sure, as she was involved in a debate with him a few years ago at an FPA conference.

Count was set up so that accountants could add financial planning to their business. I believe that you have to be an accountant to be a member of the Group.

Like all financial planning groups, there are good ones and bad ones within each group. Shop around until you find someone that you are totally comfortable with. It is quite possible (and I certainly hope so) that the person from Count you see wont share the same views on property that their leader does.

One other piece of advice if I can. In your posting, you said you were looking for a financial adviser/accountant. It is extremely rare to find a good one who does both. They are around, but mostly you are either an accountant or a financial adviser, not both. It's hard enough doing one discipline well, let alone both.

Eskay, I represent a company and we have as a policy not to recommend particular professionals publicly, as we do not endorse one professional over another. If you would like to send me an email, however, I will send you a couple of names that you can check out. They will not carry our endorsement, but we do know that they know property and provide good service. Good luck.

Paul Murphy The Investment Institute

PS: My email address is: [email protected].

 

[WebBoard]

Fran

Reply: 1.1
From: Mike .


Re: Count Wealth Accountants
From: Fran
Date: 04 Feb 2001
Time: 17:47:25

My two cents worth re: Count Wealth Accountants. I went to a seminar of theirs in Perth about 1 yr ago. They bagged direct investment property big time! I found their presentation very one-sided (ie. against direct property), and were very much into managed funds (fees and commissions).

By all means, check them out, but be aware of their stance on IP and keep an open mind. I think SOME of the reasons why direct IP is not on their agenda are because there are so many factors involved in determining the success or otherwise of IP, such as purchase price, your knowledge of the area and hence prices, ability to negotiate, your knowledge of the tax laws surrounding IP (or being able to find an accountant that does, etc, plus limited opportunity for commission on their part.

 

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NIF

Reply: 1.1.1
From: Mike .


Re: Count Wealth Accountants
From: NIF
Date: 05 Feb 2001
Time: 20:46:40

I wouldn't waste my time with them. I attended one of Lambert's seminars. It was totally mindless anti real estate investment propaganda. He justs wants to collect fees for putting your money into managed share funds.

I had to laugh during question time - there were half a dozen Count Wealth accountants on the stage with him. Some-one asked how many of them owned investment properties. They all sheepishly put their hands up.