Comments on: Time to regulate sellers of packaged property http://www.landlords.co.nz/blog/time-to-regulate-sellers-of-packaged-property A blog for New Zealand landlords and property investors Thu, 09 Feb 2012 07:09:47 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Bart H http://www.landlords.co.nz/blog/time-to-regulate-sellers-of-packaged-property/comment-page-1#comment-1856 Bart H Wed, 15 Dec 2010 22:57:45 +0000 http://landlords.akira.dyndns.biz:8080/blog/time-to-regulate-sellers-of-packaged-property#comment-1856 Hmmm... Seek recourse with the current legal system. Good luck with that. The thieves have got away with it, again. Just as they did during the Share/gold schemes a few years back. They'll be back with a new scheme soon, crime pays. Hmmm… Seek recourse with the current legal system. Good luck with that. The thieves have got away with it, again. Just as they did during the Share/gold schemes a few years back. They’ll be back with a new scheme soon, crime pays.

]]> By: Hamish http://www.landlords.co.nz/blog/time-to-regulate-sellers-of-packaged-property/comment-page-1#comment-95 Hamish Fri, 14 Mar 2008 00:53:46 +0000 http://landlords.akira.dyndns.biz:8080/blog/time-to-regulate-sellers-of-packaged-property#comment-95 If you are really good at selling crap for a lot of money do you need regulating? Hmmmm, I reckon that everyday people are selling rubbish for a lot money and doing it legally. If you do not consult an independent advisor on such a large investment, thats one thing. But if you have been told that this is an independent valuation and it is in fact anything but an independent valuation then you have been duped. And you should seek recourse with in the current legal system. If you are really good at selling crap for a lot of money do you need regulating? Hmmmm, I reckon that everyday people are selling rubbish for a lot money and doing it legally. If you do not consult an independent advisor on such a large investment, thats one thing. But if you have been told that this is an independent valuation and it is in fact anything but an independent valuation then you have been duped. And you should seek recourse with in the current legal system.

]]> By: Daniel Feller http://www.landlords.co.nz/blog/time-to-regulate-sellers-of-packaged-property/comment-page-1#comment-94 Daniel Feller Thu, 13 Mar 2008 00:23:18 +0000 http://landlords.akira.dyndns.biz:8080/blog/time-to-regulate-sellers-of-packaged-property#comment-94 How would regulation solve the problem? It’s always easy to point out what and why something should be regulated. However, the tricky bit is how to do just that. Furthermore, more often the regulation with good intention have unintended outcomes which may things worst. (Interesting readings here www.nzinstitute.org) How to find a great Financial Advisor. 1. OFFICE Do you have to meet your Financial Advisor at their office? That’s where they should work! And you want to see how they work and what staff they employ. If they come to you they have too much time at their hand. 2. First Question When you meet with them do they ask first who you are or how much you have to invest? Financial Advisors need to know you to give good advice and tell you what to do with your money. Hence, the first question should never be “how much do you have to invest”. 3. Disclosure If they fail to disclose to you how they get paid find someone who does tell you. 4. Recommendation Ask your friends and family for their recommendation. 5. Experience How long have they been a Financial Advisor? If they have not been a Financial Advisor for 10 years or longer or don’t work with someone who has find an Expert with Experience. 6. Results What results have they achieved for the person who recommended them to you? 7. Charge How much do they charge? Flat fee or per hour. Regulation will not tell people to ask better questions. But asking better questions would assist them to invest wisely. Daniel Feller How would regulation solve the problem?

It’s always easy to point out what and why something should be regulated. However, the tricky bit is how to do just that. Furthermore, more often the regulation with good intention have unintended outcomes which may things worst. (Interesting readings here http://www.nzinstitute.org)
How to find a great Financial Advisor.

1. OFFICE Do you have to meet your Financial Advisor at their office? That’s where they should work! And you want to see how they work and what staff they employ. If they come to you they have too much time at their hand.
2. First Question When you meet with them do they ask first who you are or how much you have to invest? Financial Advisors need to know you to give good advice and tell you what to do with your money. Hence, the first question should never be “how much do you have to invest”.
3. Disclosure If they fail to disclose to you how they get paid find someone who does tell you.
4. Recommendation Ask your friends and family for their recommendation.
5. Experience How long have they been a Financial Advisor? If they have not been a Financial Advisor for 10 years or longer or don’t work with someone who has find an Expert with Experience.
6. Results What results have they achieved for the person who recommended them to you?
7. Charge How much do they charge? Flat fee or per hour.

Regulation will not tell people to ask better questions. But asking better questions would assist them to invest wisely.

Daniel Feller

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