They Exaggerate their returns
I have used II for a number of years but I have chosen not to continue for the below reasons.
When looking at the past returns achieved for their portfolios, I have seen their numbers been overly exaggerated in some cases and sometimes it will totally change. For example once their marketing documents said their portfolios achieved 13%pa and then another time It said 8%pa that was for the same portfolio and the same year so how could it be different.
Also in a lot of cases they have told users to buy certain stock like Amaysim and then after...the stock price has dropped 80% from the buy price they only say they are ceasing coverage or they don’t even put a sell update. Their whole strategy is to buy low and hold for a couple of years but if the stock pick was a total mistake they need to communicate that mistake to users. Also their managed funds have not performed well the Small Cap fund is down 20% for the year when the index is up 10% and their listed fund has just been dropping in price. All in all not impressed they are like another Motley fool.
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Why does INV keep changing its name?? Dodgy!
I invested 20k in Fat Prophets(FAT) when it started. The idea was to invest in a diversified portfolio. After about 12 or so years and 5 or 6 company name changes that $20k is now $2k. That company is Investsmart(INV). Why would investors subscribe to the financial advice services if a company whose market value has steadily decreased to 10%?
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