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Fat Prophets

Fat Prophets

2.5 from 48 reviews

See the Best Financial Planning in 2019 as rated by Australians on ProductReview.com.au.


If you give them your details they won’t stop calling until you pay

I had a guy tanyne call me non stop for 6 months, I told him I will jump on board eventually when work clears up but he didn’t take no for an answer.

Definitely not signing up now

Transparency

Hit and miss

Was with them for over 5 years. Basically they make a weekly recommendations and some mid-week ones. Some work and some don't. It just depends on your luck which ones you happen to choose. One recommendation I went with went bankrupt 3 weeks later. Another one doubled in 2 years. They like to say "ABC" which we have recommended went up 5% today. But many times it drops 5% the next day which is not mentioned. Their web site is very basic. After 5 years I would have made more money leaving my funds in a bank account. Essentially I have decided that these sites are a waste of time and I should just be buying quality shares and keeping them for a long time. Forget trading unless you are an expert.

Poor Overall Performance

The nature of these types of advisories means you take the good with the bad overall. Problem is that Fat Prophets gets it wrong more often than they get it right. My perception is that on average they promote themselves to get it right mostly and put the investor in the money, it's simply NOT accurate. They do sometimes have good ideas, more often than not, their calls are not that great and often I have lost out, even after persisting for several years. If you treat as information only and have a decent understanding of the market and get more accurate information elsewhere, they can be of "some" value. For me, I have learnt from them enough, that I will not be renewing in future. Hopefully, they will stop pestering me to renew even when I have over 12 months left on my subscription. Now that is annoying and also concerning! Understand why so many believe them to be a SCAM.......with so so much cold calling and urging to spend big for very average information. Perhaps what Fat Prophets really means is Fat Profits for the company itself, at the expense of the subscriber!

Transparency

terrible

I paid $$$$$ to join for 5yrs.
I have invested in some of their managed funds and in FPC not to mention many share recommendations.
I am much worse off than when I was before I joined. I realise this is the risk you take.
have sent emails asking questions that never get a reply, have asked for a return phone call several times and apart from 1 call which I missed they have not returned phone calls.
my suggestion to anyone going to sign up, don't!!!


Filter of information

I have been a subscriber for many, many years. I cannot say I have done exceptionally well out of my subscription. I subscribe because I regard their service as a filter of information. It is impossible to keep abreast of the global markets so I pay them to do it for me. I then act on their advice or add it to other information I have acquired through other sources. I am a passive investor. I regret not buying MFG when recommended at around $1.50 but I am happy I bought EVN at around 40 cents. But them I also think it is impossible to beat the market consistently.


Their time has past

I have been a member of Fat Prophets for over nine years and have found the accuracy of their recommendations to have deteriorated in the last few years. I would have been better off leaving my money in a bank account. Their two exchange listed managed funds have been deeply underwater since inception. Of the 25 or so recommendations that I have acted on in the last 3 years, I currently have 5 that have gone up. I have also encountered an arrogance occasionally with staff typical of the financial sector. I will not be renewing my subscription in 2019.


50-50

I have been a long term subscriber (more than a decade), mainly due to their high pressure sales tactic at renewal time. I have found their recommendations to be "50-50", about half of the tips will make money and about half will lose money. Unfortunately for me, the tips that I followed up lost money.


Avoid

I have subscribed to Fat Prophets for over 5 years and have bought and sold the shares of over 32 companies following their recommendations. In my opinion their daily big picture blurg is quite good but the quality of their research is terrible. In my experience over 83% of the recommendations I followed were either sold at a loss or are still held at prices below the recommended price. They constantly report the price increases on their small number of successful recommendations bur never acknowledge their many failures. What is really annoying is to read quite regularly in their daily blurg that their managed fund had sold out of shares that their research "team" is still recommending that subscribers hold. If that is not a conflict of interest I don't know what is. I find it difficult to believe that the favorable reviews on this site are genuine. This is a sales organization that ASIC needs to pay closer attention to.

Nightmare to get a refund

Following a high-pressure sales pitch I subscribed. But I decided after a few days it wasn't for me as I am a low-income earner and $900 is a lot. So, in about June I requested a full refund as advertised. First they said the cheque went missing, then it needed to be cancelled and counter-signed etc. I have to agree with Scammed. Its very very concerning. Maybe there should be a Financial Newsletter Royal Commission. Not once have they contacted me, Surely a EFT refund is not that hard to do.

Amazing . My investment is growing super quick

Wonderful technical support. They have all latest trends available to make the investment grow faster and quick . I have purchased a daily note package , it’s really efficient and worth. In the coming time , would love to become platinum member with them and investment will be fat . Their team is super intelligent with bright ideas and skills . Highly recommend fat prophets to everyone . Cheers Rick .


A treasure trove of investment advice

Fatprophets may be the site to rescue you from doing the regretted, impromptu investment after a work Christmas party. Subscribing to fatprophets has felt like a having a friend who really knows what they are talking about (or maybe 10 friends). Whilst all the information presented is easy to understand, I am impressed by the breadth and depth of what is provided. The information from fatprophets is always relevant and thus I have appreciated the opportunity to continually develop my knowledge.


Great for new investors

I’ve been wanting to get into investing and share trading for a long time but have always found the sites either confusing or mislead. However this hasn’t been the case with fat prophets. I love the ability to receive recommendations on potential trades and read their reviews to further your knowledge and confidence. The weekly reports also offer great insights into the intricate nature of trading. Would highly recommend.


Not great

Followed a few recommendations early on with some small wins. Calling up to get relevant current information is a waste of time. Not worth the subscription cost.


Not particularly insightful, won't stop spamming me after I unsubscribe

I subscribed to Fat Prophets some years ago. I unsubscribed after finding the reports were not particularly useful. After I unsubscribed, the company continued to send me offers to resubscribe. Despite my repeated request to unsubscribe from their mailing list, the emails keep coming. Their blatant disregard for my privacy is another reason I will never become a paying member again. So if you are thinking of becoming a paying member, think carefully before providing them your details.

Scam???

I paid for a subscription on 28th Sept and have heard nothing. I did ask what has happened two days ago and the answer was all the analysts were away. Today the emails bounce, and the website appears dead since the 28th.
Have I been scammed?

Can not be trusted

After requesting several times to UNSUBSCRIBE from there e-mail list, I still get there e-mails...if they refuse to comply with the Australian spam laws then I would not trust them with my investments.


Can't unsubscribe

Never subscribe to their newsletter because they will not take you off their list. Very untrustworthy. I have reported them to ACMA


Unsubscribe does not work

Avoid them as it is impossible to be taken off their distribution list. Unsubsribe does not work so how could you trust them with you money


FP Wealth

They provide a good wealth management service to their clients. Also now have an investment platform so that clients can do their own investing.


Advice worth paying for.

Since I signed up I haven't looked back.
Have been receiving the newsletter and logging in to the website for over 6 months now
And am surprised how in depth the information is I am always looking forward to see what comes out next.
I've tried quite a few financial advisors before and it's been hit and miss and a long journey to making a profit on my investments.
So far I found fat prophets excellent to deal with.


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Questions & Answers

Has anyone else had troubles with the Fat (Super) Prophets reporting system. As a result of the sale of a $50K+investment in a global share portfolio I have received $12K (approx) but no one can tell me where my other $40K is - on their system there is no area the records funds pending settlement. Lots of promises -admin will fix but nothing has happened.
3 answers
No, I am not aware of this, I can only comment that their communication can be pretty weak and loose, pays to keep on top of them.Report the issue to ASIC & APRA, missing money with no explanation from a financial institution is a major RED flag!Thanks I was giving them until COB today before taking that step.

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