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Financial advisers Updated: 04 Nov 2009

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Been there Posted by: Ralph Corlett 05 Nov 2009 3:05pm

As I am a trustee of an estate, the funds of which are unavailable to be distributed.
The estate cannot be wound up, so it is costing further funds in administration, hoping that they may become available some day.

Ralph Corlett

No Security Commission Posted by: Trust Watch 05 Nov 2009 2:14pm

I am not sure you should be providing a link to the Securities Commission. In my experience they are every bit as incompetent and dishonest as the bulk of this industry. As you recommend you need to go into any investment with you eyes open. Great report.

Addition to earlier message Posted by: Roger Bowdler 05 Nov 2009 1:20pm

My views of this "industry" can be summed up another way.

As evidenced over the last four years or so, the "pedigree" of the financial advisers is a National disgrace.

I would ask this simple question of any person thinking of asking for financial advice from "professionals" and it is this.

"Would you willingly get into a tank full of sharks"

Food for your thoughts.

Typical NZ malaise Posted by: Roger Bowdler 05 Nov 2009 12:30pm

Incompetence, ignorance and deceptive practices.
It seems that the closer one gets to where the real money is to be made, the more devious and unethical the promoters are.

This "Financial Advice" RORT needs immediate serious attention.
Has the government got the guts to deal to rip off merchants or are they themselves too close to the influence of money ?
Lack of legislation setting minimum ethical and professional standards seems to attest to this view.
No wonder there is no savings culture in NZ when the public can be seen as a cash cow for corporates.
They wouldn't do it to their own families, (or would they ) ?
I have nothing but total contempt for this industry.
Financially you may be better off consulting a used car dealer or real estate agent.

Report format Posted by: Sheryl Kirner 05 Nov 2009 9:07am

Hi guys, this is the first time I have had trouble viewing one of your reports. I can only see the first 3 columns of the table "who we shopped ..." on screen and when I tried printing it I only get part of column 4 "panels rating". Could someone please check and perhaps amend the report format? Or am I doing somethin wrong?

Cheers
Sheryl