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Does anyone know any good fee based financial advisors in shanghai? (Not those [[email protected]#$%^&*] Austin Morriss guys that call and drive me crazy!) I’d never trust them with my money — they can’t even tell me where they got my phone number.
Does anyone know any good fee based financial advisors in shanghai? (Not those [[email protected]#$%^&*] Austin Morriss guys that call and drive me crazy!) I’d never trust them with my money — they can’t even tell me where they got my phone number.
I’ve never heard of a fee based financial advisor in Shanghai. Certainly would be scope for one but financial advisors have gained such a bad name from the commission based salesmen that cold call everyone.
I have been using one for last 7 years for some part of my portfolio (offshore funds
on developing markets, hedgefunds, gold etc.).
If you would be interested in ok advisor, you could pm me. I could ask him to contact you directly.
Fee based he is not.
It depends on how much money you want to invest. If you just have simple savings. If you have over $100k, u might want to look into local money shops aka hedge funds.
I honestly don’t believe in this cold calling also, I think it is so unethical. If you would like to see one of the consultants here email me, and I will get you to see one that actually has passed all his exams and so knows what he is talking about. There are some here that haven’t done that.
There is no such thing as ‘ a good financial advisor’. There are financial advisors who are more ethical and client oriented than others. Cold calling has got nothing to do with that. That’s only a way to get new clients and says nothing about the quality of the advice or the products they are selling. Banks also only (in general) sell there own products.
You want to know how to invest? Read a basic book about the subject and pick some basic products from a dull, old reliable bank. EG Savings account, a dull bond fund and a ‘world’ stock fund.
Want to beat the market? You lose in the end, except the advisor….
What I do know is that there are some good products we have available, but the best thing is to sit with a few advisors, and see how you get on and see what you think is best for you.
Different consulting companies because of their size have alliances with different banks so they will all have some very good deals that you can not get your self.
So shop around and see what you feel is best for you.You can contact me if you would like to meet one of my managers and to just discuss your options available to you.
/profile/210-grooby/?do=hovercard” data-mentionid=”210″ href=”<___base_url___>/profile/210-grooby/” rel=””>>@Grooby Go buy yourself a banner on this website if your products are so good… If they were, you wouldn’t need customers to invest would you? All banks pension funds and hedge funds would have maxed them.
Obviously they didn’t.
Makes you wonder for who exactly these products are good for. The client or the ‘ advisor/seller’
/profile/212-alberto/?do=hovercard” data-mentionid=”212″ href=”<___base_url___>/profile/212-alberto/” rel=””>>@Alberto You are getting it wrong. Independent financial advisors work for the individual not the company and funds at all.
And all different pension funds use different advisors. Independent advisors search the whole market for the individual, and see what is suits them best.
Thats why the customer needs to shop around and see which suits them best.
All the advisor companies have is people who have passed the exams and so know what they are looking for and understand what is there on the market.
They can get hold of better funds and notes because of their size.
I am not getting it wrong at all. ‘ independent’ financial advisors get to pick and sell the products that give them the biggest kick back. And they do!
It works that way all over he world.
So you must have had a bad advisor then before because in places like England, Australia and Geneva, and even Singapore to a certain extent, they are all fully regulated and you have to advise the client in their best interests. So if you do advise the client badly you can now be struck off. So really you should actually look into it before you say comments such as that.
I’m a fully qualified accountant from England, and i know what exams IFA’s have to do and how regulated it is. It is getting more and more regulated which is why the exams have now been changed in England and you now have to do the Diploma if you want to be fully recognised.
1 – very few financial advisors are fiduciaries and are required to put the client’s interest first. Laws are usually based on ‘suitability’ which is much more liberal, and shouldn’t be misrepresented as putting the client’s interest first.
2 – “i know what exams IFA’s have to do and how regulated it is” – you’re not in the UK anymore.
Speaking of the UK, the FSA banned commission for financial advisors starting in 2012. Why do you think the UK would want to do something like that?
I’ve met with a few guys from Austin Morris… felt like they were used car salesman.
they tried to make me sign and do everything “quickly,” and wouldn’t explain the fees.
it’s true that the penalties for taking your money out is massive – for example, if you put in 100,000$ in a 25 year plan, and you aren’t happy with it and want to take it out after the first year – you only get back 8,000$!!
Yes, that’s not a typo… that’s saying that you are penalised 92%!!!!
If you want to take your money out at 24 years, let’s again say 100,000$…. you can get back $80,000… so only penalised 20%!
On top of that, as OP mentioned, you have these MASSIVE yearly “maintenance fees,” which they don’t want to tell you about.
based on my calculations, with the fees included, you’ll be lucky to turn a profit even in a bull market… and if it’s a bear market, kiss your money bye bye.
I feel bad for people who get caught up in these scams – they can really **** you over.
My suggestions: scottrade… be your own financial adviser.
Hi, I’m wondering if anyone with experience investing at Gladstone Morgan can help me. I started my savings with them in 2006 when I was teaching in Shanghai.
Since that time my savings have consistently lost money and in total have lost 40% of the entire value. I have asked to withdraw my funds.
However, I was told by Gladstone Morgan that my funds are locked in for 25 years and if I withdraw I must pay 76% of the remaining value to them.
I have thoroughly reviewed the contract together with Gladstone numerous times and cannot see anywhere in the contract stating my funds are locked in or I must pay penalties.
I’m feeling cheated and am very worried about what will happen to the remainder of my savings. These are supposed to be for my children’s education. I didn’t get anywhere trying to deal with Chris, Joanne or Toro. Can anyone offer some advice?
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