Is it easy to change and get a different advisor? And if so how do we best choose? The current one came highly recommended by friends and had great Google reviews..however as they are broadly financial advisors when I did some more digging( after the fact) the reviews were mostly on the mortgage end of things. Thanks for your input.
I 100% agree. Investors should assume the risk and get all of the upside that goes with it. That is how investing works. These structured products that claim to bend the rules of investing only benefit the promoters.
Yep.That wouldn't be the Ditchley one by any chance? (Asking for a close friend!)
Mortgage brokers tend to have a poor knowledge of the pensions and investment market. The mortgage market is much more lucrative, so they don't need to learn about pensions and investments.
Hi Steven, so our advisor was specific to investments, however there are a team of people in this particular financial advisory group specialising in various areas. The reviews were mostly about how great the mortgage advisor was and little mention of their investment advisor...who actually appears to be the owner of the company. On a side note I also feel he is trying to get us to feel sympathy for him! - saying things such as 'my father has invested in this too' which just makes me more uncomfortable/nervous and it feels like it is a deflection from the fact that he has advised us badly on two separate investments.
Have you googled them lately?
We met with our advisor in August who assured us it would be Q4 or early next year when payouts will occur...with interest due to the months delay. I unfortunately find this hard to believe and unlikely. He was incredibly stressed and defensive during our meeting , which leads me to assume the advisors are none the wiser than their clients. It was not made clear to us at our previous meetings that this fund was unregulated so as per advice on here I have written a formal letter of complaint.
I suspect you’re right. If things keep going the way they are, investors will be left with nothing as it seems none of the assets are cash positive. Three of the nursing homes in the portfolio are in jeopardy of closing. Only option is an experienced operator comes in to take over and returns a % on the € to investors for hanging in a little longer. Wouldn’t trust anything blackbee is churning out.
Hi Westcoast . I’m not a financial adviser but I would have thought a non regulated product couldn’t have been sold through a regulated entity . Do you have terms of business and reason why letter that was provided when you took out the policy ?
Hi Brendan, Apologies I wasn't clear. We were looking to change mortgage provider's to get a better rate. This didn't happen in the end as our current mortgage providers were able to offer us a better option. Overall wish I never set foot in this financial advisor group and wish I listened to my gut more!
