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Hi everyone, it would be interesting to hear others opinions/results post GFC on this thread ...
Anyone ?
It seems nobody is allowed to mention that name here with the reason given that he threatens legal action.
Being too afraid to have your products discussed should give you the answer about how good they. Market Reality me finks.
Hi everyone, it would be interesting to hear others opinions/results post GFC on this thread ...
Anyone ?
Not sure if a post I made some time back might help.
http://www.somersoft.com/forums/showpost.php?p=757010&postcount=54
Cheers,
Oracle.
Understood.
Hence, my post only details facts which are already available on other online sites (website name appropriately quoted). No conclusions, criticisms or praises made. Just outline the facts and let ppl make their own judgements.
Cheers,
Oracle.
NFS In liquidation with many excuses and everyone else being blamed...
Market Reality strikes again.
The funds management company NavraInvest, is still operating.
I think the Steve Miller Band had an appropriate song for this.
The funds management company NavraInvest, is still operating.
So is it the same company (established 2000) or has it been wound up and a new one restarted?
Steve is no longer acting as a licensed planner - he is focussing on the property side of things.
mostly due to an insurance bill they couldn't afford after all the post-GFC and Great Southern fallout .
Wonder why that is?
Gee's, great southern got some didn't it?
Wasn't Peter Span piling into great southern too before they went cactus
Don't know about Peter Spann.
In their defence - it does seem like GS were trading while insolvent and were effectively operating a form of ponzi scheme using money from new investors to prop up the returns for existing investors. All while being a "well respected" ASX200 listed company.
They were well known and fully approved tax-effective managed investment schemes ... which shouldn't have happened if they were dodgy!
Personally, I think ASIC has a lot to answer for on this one (as do the GS directors of course!).
But yes, it did cause a lot of problems for a lot of financial planning organisations - some much larger than NFS!
I do find it somewhat ironic that ASIC are responsible for both approving schemes like GS while also investigating financial planners who recommended them after they went bust.