My wife works with EK as a hostie, immediately she joined the company she signed up with Globaleye in the hope of saving a few dollars for use or further investment in future. What she was to discover later though, was these companies don't care about Investing your money, all they do is collect your monthly premiums and lock you in for a minimum period of time, with this they are guaranteed a min. amount of your premiums and if you were to even attempt bailing out on them you forfeit a large chunk of your heard earned savings.

After diligently sacrificing and saving about 600USD a month for six years straight without fail from her somewhat meager income, She was however shocked as the policy approached Maturity, to discover that it was only worth about 22,000USD, whilst having contributed well over 43,000USD. As we would also learn, Dubai is not an easy place to get redress.

We would however not be deterred from getting back whatever monies contributed, after about a month of back and forth of weekly visits to their offices, flimsy excuses as to why the fund had performed so poorly despite having had a fund manager that was being paid to oversee it, and a few nasty exchanges on the telephone, they sent my wife a statement of how Miraculously her fund had recovered, and the value was now about 38,000USD, the W@%k#r had the nerve to even suggest that she extends the period signed up, so as the missus could recoup her investment plus interest.

We were wiser now, so she rudely declined and decided to cut her losses and run with whatever little she was getting.

If you factor in time, inflation and lost opportunities she lost much more than 5,000USD, my advice keep off, do not touch that contract with a 10 foot pole, it will only bring you misery in the end, You are safer putting your money in a fixed deposit account if you are risk averse and scared of doing the stocks and shares thingy yourself, the interest is ridiculously low but at least your principal is guaranteed, even if it does take a beating against inflation.

By all means KEEP OFF GLOBAL EYE,:=:=.

the trick is buy low sell high - right now gold is high but share prices are at an all time low, as is property in some countries.. But what do I know...

you mean UAE share are low, right?

Boston Asset Scam
 

There is a website at:

Boston Asset SCAM that is tracking both
Bryan Gauson and Keith Wotherspoon and the Boston Asset Scam.

Their new venture is IXE Financial Group - surely another scam.

As this thread has just resurfaced, a timely reminder to add my personal recommendation to those wishing to invest their hard earned money.

Stay away from Globaleye. I found out a few months back, a colleague of ours has his wife working for them. Originally a hostie, she started selling property when she came to Dubai. Qualifications not required, blonde and big tits an advantage! Made a very handsome salary from that before it all turned sour several years ago. When that income dried up, her search for another quick buck took her to Globaleye. She was given basic, basic training. She is now 'qualified' to advise people what to do with their pensions. She has no integrity. She is only interested in making commission for herself and for the Company. She certainly has no recognised financial qualifications. Her skills are purely in sales, not in financial acumen. These Companies do not have the same regulations and requirements that are mandated in other Countries

I've seen a good friend of mine hand over a 1.4 million pound pension pot to Globaleye. 3 years later, it's now worth around 900,000. He wrongly assumed that those advising him were knowledgeable and trustworthy professionals.

Some may call it naivety on his part, I prefer to call it criminality on their's!

Harry :mad:

I use Brewin Dolphin based in the City of London.

I use their private client services.

My portfolio is up 32% over thepast 2.5 years during the worst credit crunch the world has seen in recent times.

The firm has just celebrated their 250th birthday.

Proper investing by proper people.

Yes, steer clear of Globaleye, and indeed any of the "Advisors".

Me? I took Sittingidly's advice and bought Gold at $1750/ounce.......

For something like Brewin Dolphin what is the fee structure? miminum portfolio size?

In 1976 L1011 F/O Pilots based in Bahrain were paid B.D.3600 a year.
The provident fund had been cancelled and it was necessary to now provide your pension income yourself.
Some of our pilots also had the same experience of financial advisers as you guys today...the numbers were just smaller.
I was always into investing almost as a hobby and sadly then bored the tits off my fellow crew with my free advice on shares and where to buy,store, and insure my favourite subject, kilo gold bars..however I soon shut up and became a fan of private banking and confidentiality after gold descended from $800 an ounce and I had to face up to their delighted piss taking at my imagined loses.
Having lived through the share crashes of 1973 and 1987 and thankfully never having sold I find markets do come back and if invested in the right product you can suck it up until the markets turn if you do not have to sell on a certain date.
I would not worry too much today if I was aged under 50 and had bought a bit of genuine gold at 1750 an ounce....a Fund I like the look of for the present market conditions is the Kennox Asset Management Strategic Value Fund min investment £20k.
Cheers:ok:

Hi 40&80.

I hope the wilds of N.Norfolk are keeping you in the best of health ;)

Send my best to Royal West Norfolk and Hunstanton :ok:

Cragg Man

40&80's Financial Advice
 

You're too hard on yourself 40&80! I listened to what you had to say to me as a new F/O on the 767, and have to say it stood me in good stead! Never considered Gold tho.....hope you're well, happy etc etc :ok:

7B