Comments on: Was Bernie Madoff a Great Southern Advisor?

By: watchout

watchout — Tue, 12 Oct 2010 10:04:59 +0000

Hey VN and Cyberoo, I was recommended to invest in barossa vines but upon doing some background checking found that some of the directors of BV are the landholders, who sell the grapes to their own wine company. also some of the directors of BV are involved in Australian loan comapny which is a partnetship with PIS holdings. the financial adviser never mentioned the confilct of interest. It was too much in house for me.

By: VN

VN — Wed, 22 Sep 2010 19:14:05 +0000

I am interested in contacting other BAROSSA VINES investors out there.

My gut feeling tells me that it may be heading the same way as Timbercorp.

Anyone know of any potential class action against Barossa Vines?

Hope to hear from you.

Cheers

By: Cyberoo

Cyberoo — Sun, 05 Sep 2010 10:09:31 +0000

Professional Investment Services sold us into Timbercorp & Barossa Vines. Still fighting Timbercorp Finance via class action and Barossa Vines is a nightmare, costing us a fortune every year. Income last year was $120 for 1Ha of vines as opposed to the $6200 on the spreadsheet we were given by our PIS financial planner. What an acronym, PIS, we should have ran away then!

By: Chris & Tracy Andrews

Chris & Tracy Andrews — Wed, 07 Apr 2010 08:11:57 +0000

Trevor Cutler of Quadrant Securities in Albury Wodonga strongly recommended (over several years) the purchase of tree lots through Great Southern Blue Gums. We took his so called professional advice and “invested” in several lots.
I would like to see an investigation of the commisson/kick backs that financial advisors received. How much investigation did Quadrant undertake before placing Southern on their recommended to invest in list?

By: Dean Morel

Dean Morel — Thu, 26 Nov 2009 05:32:10 +0000

Richard
I am unsure whether Simon’s comments are defamatory or not. I offer this advice.
“One of the best responses to defamatory comments is a careful rebuttal. If people who make defamatory comments are shown to have gotten their facts wrong, they will lose credibility. But this only works if people have roughly the same capacity to broadcast their views.”
As I stated in my first reply to you I am happy to publish as a comment or a full article your rebuttal.

By: Dean Morel

Dean Morel — Thu, 26 Nov 2009 05:17:00 +0000

Richard,
Simon was expressing an opinion. I think it is him and not me you should be discussing this with. However, I would never wish to allow complete untruths to remain on my site and so will remove Simon’s opinion if you verify each part is completely untrue.
You’ve stated Simon’s comment is completely untrue. I’ve broken down his comment below, can you please confirm whether each of the following is true or not.
1. Port Financial Services, (PFS) Fremantle. WA. is or had been associated with the Sentry Group.
2. PFS recommended MIS products and received commissions for doing so.
3. PFS was a believer in the benefits of Project Transform! (whatever that means) I guess did you recommend clients swap holdings for shares? What was your position on Project Transform?

You’ve stated all those things are completely untrue. I am left puzzled as to why Simon would have left such a comment if they are all untrue. Can you please confirm each statement is untrue.

By: Richard Baird

Richard Baird — Thu, 26 Nov 2009 04:09:37 +0000

Simon Evan’s statement should be withdrawn from the website as it is completely untrue and I am at a loss to appreciate how you can allow can allow unsubstantiated, untruthful allegations to be misrepresented as facts.