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.Just get a different advisor.
These are sometimes unregulated investments. Your advisor should be explaining that very clearly to you. But, the commissions are HUGE, so maybe they are more motivated by their own financial wellbeing than yours.
EDIT: to correct, not all of these investments are unregulated
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.But regulated of not, I don't like the concept of investments with a capped upside but unlimited downside.
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.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.
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.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.
Have you googled them lately?has anyone heard anything on Blackbee 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.has anyone heard anything on Blackbee lately ???
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.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.
when I asked if there was any chance we could lose all of our investment on this I was laughed at. ( should have been a warning sign)
. We had originally gone in for mortgage advice and general financial advice but the investment Advisor happened to be sitting in on these meetings.
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 ?@LODGEment we were first time investors and were assured we were investing in a low risk investment. We had originally gone in for mortgage advice and general financial advice but the investment Advisor happened to be sitting in on these meetings. Anyhow 'unregulated' was never a word that was mentioned and when I asked if there was any chance we could lose all of our investment on this I was laughed at. ( should have been a warning sign) I don't expect for anything to come from the letter of complaint but felt I needed to do something in an otherwise awful situation that is out of my control now. A hard lesson learned and safe to say I will never invest again. Our financial advisor ended our last meeting saying his company would also never be dealing with ' unregulated ' companies again...I am just amazed that any financial advisor would ever recommend this to the general public. The commission must be just massive.
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!This really is shocking
If you were taking out a mortgage, why did they bring in an investment advisor?
And if you were taking out a mortgage, how come they recommended you invested in anything?
Brendan
Anyone invested with Blackbee Alternatives Housing Bond?
Repayment is overdue by a year now with little communication coming from Blackbee.
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