Hopefully i am allowed to ask this question.
Has anyone had any experience with this company in regards to investment advising? They seem to have a property focussed strategy.
If so can anyone give me their opinions?
Thanks
Hi Wilko
i haven’t heard of them. But i’d be careful of anyone who claims to be a property adviser who then tries to sell you property they are making money out off. I’m not saying these guys are doing it but lots are.
regards westan
Thanks for the advice. To answer your question, they have no affiliation with developers etc. They are an independant company set up by Margaret Lomas(who has written a few books like Steve on property investing) They just deal with property investing strategies and do what other advisors would do ie set your budget and structure your budget to maximise debt reduction and increase investments etc
I am just interested in those who may be a client and can give me the inside info on how well they are set up etc. Any takers?
Check out “Guru Watch” there is a posting under Margaret Lomas – should answer your question. [biggrin]
It sort of did. Most of the posts were about comparing Margaet and Steve and their personal achievments.
I am looking for someone to say “yep i used their services and this is what they did for me….” If I am going to outlay $2750 for them to advise me on investments then they had better stack up. So far what I have read has not convinced me.
How many people on this forum use financial advisors? So far my own research has given me most of the info I need to proceed further with my investing. It is just nice to know someone(financial advisor)is in the background “watching out” for you.
Hi Wilko,
If you want a financial advisor with a leaning towards property as the core investment vehicle then I recommend Navra Invest http://www.navrainvest.com.au – they have offices in Sydney and Brisbane.
Be aware they are growth focussed and as such may not suit you.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Wilko,
I’m a bit of a skeptic when it comes to paying anyone more then $75 for their time (haircut, doctor…) – (oh excluding my accountant – you have to have a good one of those)
I think you’ll find many gurus here to help you, and read plenty of books… my theory is that you end up a helluva lot more informed when you research things for yourself, so it sounds like your on the right path…
Good luck either way
Liz
Mortgage Lender
Wilko..agree with general consensus here..
Guru watch does have a bit more info re destiny financial sulitions, adviser i spoke with was a Tier 2 financial adviser ( property )
Wasn’t my cup of tea..do a search on the forum, someone here mentioned they used their services, read Margarets books first would be my advice..
They would be helpfull fopr a novice who would rather pay someone to sort out everything for them, including budgets etc..
REDWING“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorthanks all. I am confident about my own knowledge about investing, ie property/shares etc.
The one thing the consultant highlighted was that they thought my loan structure could be re-worked to achieve lower interest rates. I currently have a LOC with Citibak for PPR and my ip is fianced by Suncorp. They were recommding me to refinance everything with St George. What are your thoughts on this? How is one to know if their loan structure is the best option? Who advises on this? What are the pros/cons of having all your finance through one inst. ie St George?thanks for all everyones input
Hi Wilko,
I ‘all’ you are wanting to do is investigate possible loan restructuring (if necessary) then I suggest a chat with a couple of brokers.
They won’t charge a cent and will only be paid if you do restructure.
Please note I am not advocating wasting their time but rather if there is a genuine ‘better way’ they should tell and assist you and will earn their money if, in fact, you do restructure.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
From other things I have seen/heard about Destiny/Margaret Lomas, it appears that they recommend St George because you can have up to 10 sub accounts. They seem fairly big on cross collateralisation in that sense. From my experience, St George charges $10 per month on every LOC account (including subs) where you do not have direct salary crediting in place.
So, wouldn’t be the best for me…..
Cheers
MelI must confess I am fully paid-up with Destiny[lmao].
There are quite a few financial planners out there that have a slant towards Property. One thing I like about Destiny over others is there independence to Real Estate Agents, Developers and everything else apart from Financial provider (which has me a bit nervous). This huge independence factor is very annoying at first, but in the long run I can see it will be a huge benefit i.e. providing unbiased advise. I know a friend of mine who is going with another planner who started off as a developer and is pushing there own properties on clients. They are now being investigated by Dept Fair Trading.
Elvis.[strum]
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