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Dolphin / German Property Group
Posted: February 20th, 2021, 4:05 pm
by Alaric
A piece from the Guardian on a dubious investment apparently promoted by some UK advisers.
https://www.chessgames.com/perl/chessgame?gid=1044346
Re: Dolphin / German Property Group
Posted: February 20th, 2021, 4:37 pm
by ReformedCharacter
Yes, depressing reading. There's two articles (paywalled) in the DT today on the same subject. I have a friend taken for 20k. Interesting game in your link
RC
Re: Dolphin / German Property Group
Posted: February 20th, 2021, 4:38 pm
by Alaric
Alaric wrote:A piece from the Guardian on a dubious investment apparently promoted by some UK advisers.
https://www.theguardian.com/money/2021/ ... firm-fails
Re: Dolphin / German Property Group
Posted: February 20th, 2021, 4:41 pm
by Lootman
ReallyVeryFoolish wrote:I think you need to check your link please? Would be interested in reading. Thanks.
I always double check and preview test any link I use here.
This one could not be more innocent, but some could be really embarrassing, especially if you don't notice until after the time for editing elapses.
Re: Dolphin / German Property Group
Posted: March 11th, 2021, 5:36 pm
by terminal7
I have had a serious investment (for me) in a FTSE 250 company that specialises in German commercial property for some little while. As a result of researching this sector prior to the investment I had become aware of Dolphin Trust. Clearly I am going to sound smug - but why oh why do investors part with thousands because of introducers, financial advisers, snake oil salesmen et al advising them to place money in such an evidently risky proposition? Also why are the financial regulators so slow in warning investors of such high risk investments (putting it mildly in this case)?
T7
Re: Dolphin / German Property Group
Posted: March 11th, 2021, 5:45 pm
by ReformedCharacter
terminal7 wrote:Clearly I am going to sound smug - but why oh why do investors part with thousands because of introducers, financial advisers, snake oil salesmen et al advising them to place money in such an evidently risky proposition?
T7
As mentioned above, a friend was taken for 20k. I think the answer to your question is that many people trust IFAs to advise them honestly and don't understand the risk. There's probably an element of 'wanting it to be true' as well, greed overcoming better judgement. In my friend's case he had inherited some money from his mother and was poorly educated in financial matters (as are many people) and consequently sought advice from his very friendly IFA, alas.
RC
Re: Dolphin / German Property Group
Posted: March 11th, 2021, 6:34 pm
by terminal7
RC
I'm poorly educated in cooking, cars etc. When I want to splash out on a good restaurant (remember that) - I do research before booking a place. If I want to spend £20k+ on a car the last person I am going to listen to is the car salesman. Surely its simple - why is somebody trying to sell you this investment? What is their interest. Long time ago, my then business partner had had a meeting with an IFA - he asked himself why was the IFA driving a top of the range Merc. Coupled with the basic advice (you could get better in the financial pages of many newspapers or Money Which) - it was obvious the basic conflict of interest. Up front commissions, tail commissions etc - just ask. It seems that some people spend more time comparing the price of bleach in order to save 30p than on doing basic research before investing thousands.
T7
Re: Dolphin / German Property Group
Posted: March 11th, 2021, 7:13 pm
by ReformedCharacter
terminal7 wrote:RC
I'm poorly educated in cooking, cars etc. When I want to splash out on a good restaurant (remember that) - I do research before booking a place. If I want to spend £20k+ on a car the last person I am going to listen to is the car salesman. Surely its simple - why is somebody trying to sell you this investment? What is their interest. Long time ago, my then business partner had had a meeting with an IFA - he asked himself why was the IFA driving a top of the range Merc. Coupled with the basic advice (you could get better in the financial pages of many newspapers or Money Which) - it was obvious the basic conflict of interest. Up front commissions, tail commissions etc - just ask. It seems that some people spend more time comparing the price of bleach in order to save 30p than on doing basic research before investing thousands.
T7
You're preaching to the converted. I've never mentioned it here before but I had a short lived career selling financial products, so I know a little about the industry. My friend lives close to the IFA who also sold him some Park First and Panamanian forestry and last time I spoke to him said, ruefully, that the IFA is now driving a new Porsche. My friend is a creative person, an accomplished musician with a law degree but financially naive. It makes me very sad to see people ripped off like this. But I wouldn't be too smug about it, many of us become vulnerable due to age or just because we happen to picked on by a conman who is very good at it and we don't see it coming.
RC