Steve Navra - Guru or Ghost?

It's a completely new company - with a new single director (Dylan Navra, Steve's son).

Company was registered in May 2011 ... that page is definitely misleading. The first paragraph is a direct cut-and-paste (word for word) from the old Navra Financial Services about page.

Steve is no longer acting as a licensed planner - he is focussing on the property side of things.

I only ever talked to Mr Navra for a few minutes after one of his companies Brisbane events several years ago,i though he was a smart man because he told me his company was not for me he told several on the day the same thing,all he said was just keep doing what i was doing at least the seafood on the day was good..
 
I just LMAO looking at the title of the first course: "Blowing Bubbles", classic.
And Steve is listed in "people" section.
{edit: removed opinion expressed as fact}
Maybe this is also the process of earning 6 commissions on the same product :rolleyes:

Willair, your were too smart for them.
 
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Gee's, great southern got some didn't it?
Wasn't Peter Span piling into great southern wood plots too before they went ar$e up?
I reckon if I did a search for long enough I would find his post that mentions it.


See ya's.

I remember Peter Span promoting Timbercorp since the mid 2000's together with his managed fund. At one point his managed fund was listed but, i don't think it is there anymore.
 
Blowing bubbles ... ?

I'm a shareholder. Happy to take it on the chin, Steve's advice and the investment made in the managed fund did some great things for us, the fact my paper shares are likely worthless isn't the worst thing to happen to me. But reading the www.navra.com.au website, versus what we know, they've lost me.
 
But reading the www.navra.com.au website, versus what we know, they've lost me.

navra.com.au now has nothing to do with NavraInvest or Navra Financial Services ... completely separate company run by Steve's son. The fact that Steve's face appears on the site is just marketing, he is not a director of the company.
 
navra.com.au now has nothing to do with NavraInvest or Navra Financial Services ... completely separate company run by Steve's son. The fact that Steve's face appears on the site is just marketing, he is not a director of the company.

Nothing would seem to be a misnomer?

Navra Financial Solutions apparently started in 2000 and has over 15 years of Financial Experience according to the website? How long has the new group been active i.e. ABN, ASIC etc?

I don't know everyone on the new site Sim but there's a few familiar faces http://www.navra.com.au/people including Steve Navra - Property Consultant, Roger Fusca - Buyer’s Agent and Carmelita Tabuchi - Office Manager / Client Services, attached with the change

I wish the new group all the best and am not sure whats transpiring within at the moment, but there seems to be some confusion about when looking at the thread above...:confused:
 
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Nothing would seem to be a misnomer?

Navra Financial Solutions apparently started in 2000 and has over 15 years of Financial Experience according to the website? How long has the new group been active i.e. ABN, ASIC etc?

That text was copied and pasted from the old Navra Financial Services website. It is incorrect and misleading.

Navra Financial Solutions was registered in May 2011 and the sole director is Dylan Navra.

I don't know everyone on the new site Sim but there's a few familiar faces http://www.navra.com.au/people including Steve Navra - Property Consultant, Roger Fusca - Buyer’s Agent and Carmelita Tabuchi - Office Manager / Client Services, attached with the change

Essentially, Dylan is sharing office space with NavraInvest, presumably under a similar arrangement that Navra Financial Services used to have ... Carmelita (who I believe is employed by NI) acts as receptionist for the office (similarly, she provided the same services to both NFS and NI previously), and also presumably, Dylan has an arrangement with Steve and Roger for them to provide services to his company.

They are not employees of Dylan's (as far as I'm aware) - he's merely listed them on his website to make his company sound more established than it actually is.
 
Essentially, Dylan is sharing office space with NavraInvest, presumably under a similar arrangement that Navra Financial Services used to have ... Carmelita (who I believe is employed by NI) acts as receptionist for the office (similarly, she provided the same services to both NFS and NI previously), and also presumably, Dylan has an arrangement with Steve and Roger for them to provide services to his company.

They are not employees of Dylan's (as far as I'm aware) - he's merely listed them on his website to make his company sound more established than it actually is.

Way too complicated for me.

I wonder what the average life of an investment company or fund manager is before they dissolve/restructure/change direction/retire to the coast/phoenix/whatever.

5 years maybe?

Yet they have the gall to prepare strategies for punters whose investment horizon is 30 - 50 years or more.

The companies they invest in are also volatile, but I suspect less so than the fund managers or investment advisers themselves. The top 10 companies 30 years ago is different to the top 10 now.

Whereas houses, which if bought today, should still be liveable, attract rent, have value and maybe even have appreciated, in that time.
 
Pure smoke and mirrors by a noob trying to bignote himself, ie "Blowing bubbles".

Just as selling the "averaging down" equities system for $1 million dollars is.
I've never heard of anything so far fetched, but when forum moderators are shareholders anything is possible it seems.


{edit: removed opinion expressed as fact}
Well please correct me if these are not facts
 
Navra group pty limited

Stand corrected.

The Navra Group PTY Limited went into administration on the 30th of September. One has to ask what is next?

Go Girl
 
Stand corrected.

The Navra Group PTY Limited went into administration on the 30th of September. One has to ask what is next?

My understanding is that Navra Group Pty Ltd has nothing to do with NavraInvest Pty Ltd (other than Steve's involvement in both companies).

I'm not 100% sure about the operation of Navra Group Pty Ltd, but I suspect it was part of Steve's financial planning operations - which are probably being wound up as a result of Steve rescinding his financial planning license? Correct me if I'm wrong here Steve - that's just a guess.
 
Pardon my ignorance but why does a company need to go into administration to wind up? I thought it could just close its doors gracefully???
 
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.

What was the basis for Navra's grievance?

:)
 
Facts re: Navra Companies

My understanding is that Navra Group Pty Ltd has nothing to do with NavraInvest Pty Ltd (other than Steve's involvement in both companies).
I'm not 100% sure about the operation of Navra Group Pty Ltd, but I suspect it was part of Steve's financial planning operations - which are probably being wound up as a result of Steve rescinding his financial planning license? Correct me if I'm wrong here Steve - that's just a guess.

Hi All,

Here is the factual information regarding the Navra Companies:

A) Navrainvest Ltd
Navrainvest Ltd is a funds management business and is publicly owned by shareholders.
This company is operating successfully, the income funds are currently performing at 4%+ above the index; the Structured Property Fund is down 2%+ from its start, which is certainly better than market and much better than equities, which are down more than 30% over the same time period.

Due to the closure of Navra Financial Services, Navrainvest Ltd has lost a useful distribution resource as the funds under management were built from the Navra Financial Services Client base.

Currently the directors are busy concluding a joint venture with a large financial institution, which has a distribution of over 200,000 clients and this will certainly greatly improve the inflows of FUM and serve both the unit-holders and shareholders interests very well. Letters go out to shareholders this week inviting them to a meeting to vote for, or against the JV with this large group.

I will formally announce who the JV partner is after the shareholders have voted on this.

NOTES: Navrainvest Ltd was formed and built for Navra Finacial Services clients and relied solely on distribution from this source. The JV opens up an enormous distribution chanel, which should result in an enormous increase in FUM - to the benefit of all.

The shareholders meeting will take place at the end of October.

B) Navra Licence Pty Ltd
This company had one director (Steve Navra) and held an AFSL.
The only purpose of this company was to offer the Financial Services license under which Navra Financial Services operated.

I have surrendered my AFSL and ceased being a Financial Planner.
This company has been closed.

C) Navra Financial Services Pty Ltd.
This company operated and offered financial planning, under my AFSL as mentioned in (B) above. This company has closed.

Reason for the closure of Navra Financial Services Pty Ltd:
As a result of the GFC and the collapse of Great Southern, approximately 30 clients (3% of total clients) of Navra Financial Services put in claims against the group through the Financial Services Ombudsman.
The fact that these complaints were registered led to an enormous increase in insurance premium and to an eventual situation where the company could no longer afford the cost of the necessary insurance.
A financial planning group cannot opperate without insurance and the cost of such insurance would have led to the group going insolvent.
At the end of June (The date the insurance expired) the license was surrendered to ASIC and the company was closed. (Navra Financial Services ceased all operations on 17th May 2011)

NOTES:
1) It seems sad that a mere 3% of clients can cause a group to close. As noted above, this is all it takes for the cost of running such a business to become untenable.
2) The complaints are being defended as it is clear that these clients did not follow the structure advised in their individual Statements of Advice and that was to maintain a gearing level of a maximum of 50%. Clients who maintained the correct structure will have seen their portfolios decrease with the GFC market decline, but clients who geared too highly were 'wiped out'. NFS held many meetings and sent out many notices to every client strongly suggesting that clients decrease and maintain their gearing levels to a maximum of 50%. This meant in some cases selling down units to maintain the structure. Some clients refused to sell down or decrease their unit holdings and thus suffered the financial consequences.
This 3% of Navra Financial Services clients have submitted complaints, which is their absolute right to do, and it is these complaints that caused the group to close as mentioned above.

D) Navra Financial Solutions Pty Ltd.
This company was formed by Dylan Navra (My son) who was an authorised Representative of Navra Financial Services.

It is NOT a 'phoenix' operation and was formed purely for the purpose of providing continuity for the clients of Navra Financial Services, up and until new services can be offered by the Joint Venture operation.

Navra Financial Solutions Pty Ltd has only one director and only one authorised representative and that is Bob Penter. This company is licensed through the Dover Group (AFSL).

You will note that both Dylan and I offer consulting services to Navra Financial Solutions and this is only for continuity purposes as these clients are familiar with Dylan for Financial Planning and myself for Property and Funds management.

All the clients of NFS will have the opportunity to:
i) Obtain their financial services through the new JV group.
ii) Obtain their financial services through Bob Penter.
iii) Seek financial services elsewhere.

On a personal note:
I am formally retired from financial planning.
I will consultant to the new JV Company and to Navra Financial Solutions, for as long as they have a need of my services and will thus be able to support existing clients and shareholders through these groups.

I hope this clears up any confusion.

Kind regards,
Steve Navra
 
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Hi Steve,

Interesting read but nowhere did you address the Navra group pty limited going into administration on the 30th of September - what was the story with that?
CW
 
Hi Steve,

Interesting read but nowhere did you address the Navra group pty limited going into administration on the 30th of September - what was the story with that?
CW

Hi Chia Walla,

I mentioned the closing of both Navra Financial Services Pty Ltd and Navra Group (License) Pty Ltd.

Our appointment of an administrator or liquidator is the formal process of asking an independant third party to close the companies.

Regards,
Steve
 
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