We may be old fashioned but

[Macca]

Us boring property investors may be old fashioned but when you read some of the things that happen to people who trust advisers, banks and leveraged tax avoiding products I think we do OK

At least we provide housing for those unable or unwilling to buy their own and we provide for our old age, saving the governments of OZ a lot of money.


<<Against this backdrop the Association of Independently Owned Financial Professionals (AIOFP), a group of planners who aren't owned by the big institutions, compiled and distributed the list to the country's decision makers. Its executive director Peter Johnston argues product failure is the main reason people lose money ? not the financial planners.

"Advisers don't build, approve, rate or administer financial products."

Read more: http://www.smh.com.au/business/bank...ds-hitlist-20141110-11jppx.html#ixzz3IddXU1DW

 

[willair]

quoted from the paper..

If Billy the Kid, Jesse James and Wild Bill Hickok were still about today, they would feel right at home as residents of Western Australia.
The stock-slingers of the wild west, and the odd


Read more: http://www.smh.com.au/business/stoc...-wild-west-20141109-11jbga.html#ixzz3Ii878vi2
..

 

[landlubber]

It's surely a sad comment on the human race that in many cases the people who we are supposed to be able to trust .... are in fact the one's you can least trust. Financial planners and advisers are near the top of the list. I read recently where with many managed products "fees,charges and commissions" take about 50% of the funds return. Yep ... my money will always be in dumb old houses and units. Love 'em !! LL PS ...and a bit of bullion cause there is some crazy stuff out there in fiat money world

 

[redwing]

It's surely a sad comment on the human race that in many cases the people who we are supposed to be able to trust .... are in fact the one's you can least trust. Financial planners and advisers are near the top of the list. I read recently where with many managed products "fees,charges and commissions" take about 50% of the funds return. Yep ... my money will always be in dumb old houses and units. Love 'em !! LL PS ...and a bit of bullion cause there is some crazy stuff out there in fiat money world

I thought it was more like over your working life they may wind up with 2/3 and you 1/3

 

[The Falcon]

If an advisor is tipping clients into structured products as opposed to listed securities, bonds, cash and direct property then they aren't worth a bumper. Which is most of them..

 

[redwing]

Is there a complete list of these companies i.e. Storm Financial, Prime Trust, Westpoint, Babcock & Brown, Baycorp, Fincorp etc who all went into crisis or bust

Apparently there is still billions in frozen, impaired or 'lost' funds