Australian Shareholder Centre is no longer trading/available.

Review rating:

Worst Investment ever

1 out of 5, reviewed on Oct 17, 2017

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.

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Slow on communication

1 out of 5, reviewed on Feb 28, 2017

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.

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What a joke

1 out of 5, reviewed on Mar 08, 2016

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.

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Murrumbateman

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A monkey with a pin would have done better!

1 out of 5, reviewed on Dec 11, 2015

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 contacted Share Centre and was told that I was not the only customer that was less than impressed with their 'expert' advice (costing $5,000 per year)

I note that there are some kind comments here [link removed]
I wonder if this site is a scam too.

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  • 1 review
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How to loose money quickly

1 out of 5, reviewed on Nov 30, 2015

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?
Annoyed !!!

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summerland pt

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MINUS 5 STARS

1 out of 5, reviewed on Oct 15, 2015

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
James walsh

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Verified Customer

A smooth talking..

1 out of 5, reviewed on Oct 06, 2015

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)

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Terrible way to operate.

1 out of 5, reviewed on Sep 28, 2015

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.

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Sydney

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What a con

1 out of 5, reviewed on Sep 28, 2015

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.

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I have also been conned!!

1 out of 5, reviewed on Sep 07, 2015

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.

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Newcastle

  • 1 review
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Another victim...

1 out of 5, reviewed on Aug 07, 2015

I am also a victim and agree with all the comments below. I lost 40% of my money plus a 5k fee and haven't been able to contact them since. Is there anything we can do?

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I should have known better.....

1 out of 5, reviewed on Aug 03, 2015

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.

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Sydney

  • 4 reviews
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Complete disaster!!!!

1 out of 5, reviewed on Jun 23, 2015

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, and in return you get a stunningly atrocious performance every month that is a fast route to losing your money.
Don't deal with them (under whatever name they now trade) unless you like losing your money - fast. They should be shutdown immediately.

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SCAM SCAM SCAM

1 out of 5, reviewed on Jun 12, 2015

After paying the $4990.00 and investing $15000.00 the so called experts proceeded to loose my money in quick time.
I have $6000.00 left.
After looking at their web site It would seem they are no longer trading
What can we do to sort these scam artists out?

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MARGARET RIVER

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Rip off

1 out of 5, reviewed on Jun 03, 2015

Paid $5000 Dec 2013 to have them lose a large sum of money in short time.Now my super fund auditer wants details but I am finding it impossible to find a contact for them.Could anyone help with a contact of some sort for them

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Sydney

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How can we get a class action going ?

1 out of 5, reviewed on May 30, 2015

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 !

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Newcastle

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Sore Looser

1 out of 5, reviewed on May 21, 2015

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?

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urunga

  • 1 review
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There's got to be a law against this scam

1 out of 5, reviewed on May 15, 2015

I invested 25000 with these con artists and they lost the lot in 12 months they dont answer any emails or phone calls and l received no paperwork for tax purposes.

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A Great Big Scam !!

1 out of 5, reviewed on May 07, 2015

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 !!'

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Melbourne

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Verified Customer

Why is a company like Australian Shareholder Centre allowed to continue to trade?

1 out of 5, reviewed on May 06, 2015

Beware of “Share Centre” also known as “Australian Shareholder Centre” (ASC). Why can't they be prevented from continuing to lose the nest egg from small investor over and over again? Just read the multitude of disgruntled ex- clients.
"It's time for ACCC or ASIC to stepped up to the plate"
The “ASC” is a company based on the Gold Coast Queensland that offers small investors the opportunity to utilize their supposedly expert and proven services to trade on the Australian and USA stock markets using CFDs (contracts for difference) in three different categories. To do so you need to pay them a substantial one-off "client fee", “mine was a special offer of $4990” down from $6,990 being the standard entry fee.
The company, I find out now has recently changed their name (and address) to Share Centre at 155 Varsity Place Varsity Lakes Queensland.
In October 2013 very smooth-talking and plausible representative of the ASC contacted me by phone, and subsequently took me through a lengthy sales pitch and a guided tour of their website. The material on the website looks impressive, and among other things, it provides detailed data on their past performance with their clients' investments. Together with the persuasive spiel and pressure over a couple of weeks, they managed to convince me that the ASC was a well-established, reputable company with an excellent track record.
The arrangement was that Australian Shareholder Centre were the experts, communicating trades to Halifax Investment Services who would perform the trade, my holding account was then with Halifax (eg $25,000 was agreed upon). I would like to know if ASC also get “a bonus” from Halifax for every trade?
“The client” could chose which category of investments you wish to invest in Group A, B or C.
B and C had overseas content with more exposure and A “being Low Risk” and more directed towards the Australian share market. Being more conservative I chose Group A
Before I agreed to become a client I went through the “Trade Statements” section of the ASC website carefully, and after adding and subtracting figures for the previous 6 months, it seemed to demonstrate that the company had in fact obtained very good returns, in agreement with the graphs and statistics that were displayed on the website regarding their performance over the past 6 years or so since 2007.
I also carried out a search of the web looking for any comments, reviews or complaints about the ASC, but couldn’t find any at that time, adverse or otherwise.
In November 2013 I eventually agreed to pay $4,900 to become one of their “clients”, and also deposited $25,000 into an account with the ASC's broker, Halifax Investment Services. However, since I have been with them, their dealings have been almost uniformly disastrous, and to date had lost $7,050 in the share market transactions they have carried out on my behalf and of course the “client fee” of $4,990 ($12,040 in total). This figure also includes brokerage costs (which I was aware of before becoming a client) as well as the broker's monthly "finance fees". Despite being given reassurances from the Australian Shareholder Centre (ASC) that this poor result was just a temporary downturn due to the current volatility of the stock market.
Being concerned with the poor performance I had discussions with ASC in September 2014 and was convinced again to “hang in” as they are in a phase of improving their strategy also embarking on a “bonus Share Recommendation” which they will give further advice on the market.
February 2015 I suspended my account with the brokers Halifax to cut my losses and they gave me the indication many other ASC clients have opted out also. My losses "on the investment amounts to over 40.1%" over a 16 month period while ASX200 has gone from 5230 points to 5811, over 11% increase over that period.
Having done more internet research since I cancelled my account, and read comments from so many other people who also have lost substantial sums of money with a lot more stock market knowledge than I have, check out the “Aussie Stock Forums website”, “Rip- Off”, productreview.com.au etc, it now seems likely that the people running the ASC have had other failed companies with exactly the same business model as they continue to "Name change".
The names of these companies are “URL”, "Active Traders", "Australian Stock Investment Group" and now are trading under "Share Centre". ASC have received very poor reviews on this website from people with similar experiences to mine.
I am only one of many saying.... Stay clear

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Questions & Answers

Does anyone have a contact for aust shareholder centre? I need to obtain paperwork on my losses but can find no contacts

Vince B asked on Jun 03, 2015

Answer this

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.

Regards,

Barry T

Vince B: Try +61 2 8417 3017 and +61 2 8015 2451 - Peter B.