Gone into adminerstration?
I heard from Nz Halifax that aussie Halifax has gone into administration.
Well it's been just over 3 years since the last stockbroker (BBY) went under, so a bit overdue for another.
Why is the media all hush hush about it?
I'm not sure who stole what and how much, but it looks like ASIC has failed once again.
Looking for a stockbroker, go offshore, that's why a lot of politicians have offshore trusts.
Worst Investment ever
After continual harassment, we invested 20000.00 of our Super Fund with a 5000.00 entry fee into this organisation in 2014 when GFC was over with the verbal guarantee that we would with their expertise have a good return on our investment. Within a very short period they had dwindled our investment by half and caused us to cease any further trading. When we enquired why this had happened we were told that the company had off loaded their head analyst and a number of his staff...They offered us a return of 1200.00 if we would sign a waver of confidentiality which we would not agree to. From that date the company would not answer any of our requests for further discussion on this matter.
Slow on communication
Time after time I would ask different question ,either by phone or email ,most of the time they would take days to get back to me and sometimes not at all.The final straw that broke the camels back was I found out through my Accountant that I had to re apply for my account (they did not inform me until much latter ).Such poor service I have decided to go to Interactive Brokers ,they could not be any worse .
This is not about loosing money ,for it's up to Trader to take responsibility ,however saying that Halifax Brokers do not make any easier.
What a joke
Was conned into investing with an assurance of conservative methods and evidence of past successes. Not sure if it's a scam or just incompetence, as hard to see how they benefited by the poor trading record as your money was in a personal account at Halifax. When I decided to close the ASC account and cut my losses I was talked by the Halifax Rep to leave it with them in a trading account, and did so believing them to be a reputable and experienced broker. However again probably through incompetence they managed to lose the rest of it so far better off doing your own research and investing than relying on these people.
A monkey with a pin would have done better!
I agree.. its a scam - it cost me $25,000. This was a big scam. I got their name from the ASX web site - which reflects badly on ASX. (Actually ASX assure me I am mistaken)
The company claimed to have had a fantastic record of predicting ups and downs of the stock market (ASX)
For example the Group B Trading was shown to deliver growth of 85% between 2007 and 2013 with no year generating less than 4% ROI. Compare this with the with the period between September 2014 and December 2014 where my $80,000 was converted into $60,000. I contac...
How to loose money quickly
Run Run Run Away
This is the biggest scam. The only guarantee is that you will lose money fast.
Very few of the trades in the groups A B & C ever made any money for me.
I was once told that they were to have a change in the investment strategy.
After that phone call the performance of the stock picks became even worse.
I was offered a refund of $2000 if I signed a disclaimer went away and kept quiet.
Guess what I am still waiting.
Anyone interested in starting a class action on these scammers?
MINUS 5 STARS
The ASC destroyed $10000 of my money inside 6 months,and I believe a lot of people were caught because of
their magnificent spiel.They also charged money to do this.I know not if they are totally incompetent or con artists
If anybody is starting a class action count me in
- Verified customer
A smooth talking..
I have had an identical experience to a number of others - I paid $4990 for an "analyst" fee after being oiled up by them and sales spiel, but never invested. No luck trying to get in touch with them despite emails and phone calls.
I would be happy to join any legal action people are considering against Australian Investor Services (aka Australian Shareholder Centre)
Terrible way to operate.
After signing up with only one signature on our SMSF (legally it requires both signatures) we decided to cancel our subscription the following morning. We were told that was not possible. I was not happy with the decision but was told that the agreement stayed in place. We were told that we would continue to receive the full services of the website. However, it was not long that these were discontinued. I attempted to contact them on numerous occasions without success. We will be taking this up with our solicitor, local politicians and social networks. We are not happy with the way they operate.
What a con
Paid the establishment fee of $4,990 on the 20 November 2013 but never traded with them. Recently have tried to contact them for a refund but no replies from emails or phone calls. Thankfully I had my suspicions about this organisation and did not forward any funds for trading. If anyone is taking any legal action for recovery or know whether ASIC is doing anything about this con company please advise through this review.
I have also been conned!!
I agree with the previous comments made and was also sucked in by their representative a smooth talking [name removed].
I paid $4,990 in February 2013 for them to lose 90% of my investment for me. Following their recommendation I transferred to Group A. Spoke to their National Account Manager [name removed] on 31/10/13 and he suggested I stick with them as Group A had never failed to make a profit over a 12 month period! Based on my experience and their performance this has to be a scam. I am normally fairly cautious with my investments but was very foolish to trust this lot.
This business should be closed and the principals held to account.
I should have known better.....
We paid the establishment fee, but after reading some of the reviews, luckily didn't send any more money. Halifax are now trying to get me to invest, but we got suspicious about all the personal information they require and consider Halifax to be an accomplice in this questionable activity. We are pursuing this further with the appropriate authorities.
I agree with all of these comments. I have had the same experience.
Based on my experience with their performance they must be a scam.
Their performance was perfect and reliable. Every month since April 2014 my investment lost money until 80% of it was gone. Absolutely consistent performance. And they don't every contact you after getting your initial fee.
Over the same period I invested independently and made reasonable profits doing it. So much for the "experts". They are terrific at taking membership fees, trading fees at every corner, an...
How can we get a class action going ?
I paid the $4,990 upfront commission only to see my $10,000 investment gradually dwindle down to $5,000 over a couple of months. Despite assurances from them that things would turn around, I realised I had made a huge mistake and I instructed the brokers (Halifax) to cease trading on my account. Altogther I have lost around $10,000. I have downloaded the ASIC and ACCC forms and I am thinking of lodging complaints with these organisations. Is there some way we can get a class action going ? These scam artists should be stopped in their tracks ! Stay clear of them !
All sounds too familiar. Since I commenced to deal with these people in August 2014, they have not returned numerous phone calls or emails. I paid the initial $4990.00 to get their advice and invested $20,000.00 and have now suspended my trading account after loosing approx 60% of my money.
However I do not intend to leave the matter there something needs to be done about these people if only to protect future investors.
Why don't we get our heads together and take the matter further?
A Great Big Scam !!
Having read the other reviews, it is all so familiar. $ 5000 to join in June of 2014. Wonderful graphs outlining how fantastic the results were - a shame the results with my money were not as good. I invested $ 20 000 and at no stage did my investment ever get above $ 20 000. I initially was in A and B. Contacted them and was told to change to A. Stopped dealing with them at just over $ 7 000. Pity I didn't do my homework before getting involved with these sharks. Halifax are just as bad as Australian Shareholder Centre. The old saying, 'If it seems too good to be true, it probably is !!'
Questions & Answers
Does anyone have a contact for aust shareholder centre? I need to obtain paperwork on my losses but can find no contacts
Hi Vince B,
Sorry to be a bit slow responding, I have been away and do not carry my laptop everywhere these days like I used to. I only have the numbers available on their web site. Good luck contacting them by any means ( phone, email, etc ) as this is one of the problems I had when I was dealing with them. You may be better off dealing with the Broker who handled your stock market transactions.
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