YorkshireTyke Posted March 12, 2019 Share Posted March 12, 2019 Anyone done business with Sterling Dunbar investments/Financial advisors? They have an office in Maha Sarakham and apparently have clients all over Thailand. Not yet read the blurb their advisor has sent me on Jupiter European Fund, Aria Real Asset Income Fund, Rudolf Wolff Global Income Fund and a brochure with 7500 investments to choose from. Anyone invested in the above mentioned funds ? Any comments appreciated, good or bad for a novice. Link to comment Share on other sites More sharing options...
persimmon Posted March 12, 2019 Share Posted March 12, 2019 Be very carefull before entering into an agreement with these sort of people. Make sure you know exactly how much you will pay them,how,and for what services. Investments don`t have to be complicated,many people choose to make their own decisions on where to invest. Link to comment Share on other sites More sharing options...
Misty Posted March 12, 2019 Share Posted March 12, 2019 5 hours ago, persimmon said: Be very carefull before entering into an agreement with these sort of people. Make sure you know exactly how much you will pay them,how,and for what services. Investments don`t have to be complicated,many people choose to make their own decisions on where to invest. Check if they are licensed in Thailand as required by law (both the firm, and the individual adviser). If not, ask them why aren't they? If they are a fly by night operation, you have no protection if they pull an LMIM on you. Link to comment Share on other sites More sharing options...
Misty Posted March 12, 2019 Share Posted March 12, 2019 1 minute ago, Misty said: Check if they are licensed in Thailand as required by law (both the firm, and the individual adviser). If not, ask them why aren't they? If they are a fly by night operation, you have no protection if they pull an LMIM on you. In case you're not familiar with LMIM and the illegal advisers that sold it, here's some background: http://www.thebigchilli.com/feature-stories/the-lmim-collapse-one-year-later-an-investor-speaks-out The Thai SEC tried to help those who expats who were screwed, but had a difficult time since none of the parties selling the fund were regulated and many just fled the country. https://www.internationalinvestment.net/internationalinvestment/news/3503433/lmim-victims-cheer-thai-sec-goes-advisers Link to comment Share on other sites More sharing options...
wordchild Posted March 12, 2019 Share Posted March 12, 2019 No need to run any checks , just look at the name, Sterling Dunbar! the name screams we are a bucket shop. These kind of operations will often try to use a name that sounds up-market (think deVere) or has elements of a name from a respected, solid, financial brand, Dunbar, anyone remember Allied Dunbar? Nothing to do with this lot i am sure! And they add in Sterling because of its association with strength and wealth , i guess. Barge Pole Job. Link to comment Share on other sites More sharing options...
wordchild Posted March 12, 2019 Share Posted March 12, 2019 As has been said above and also so so many times on this forum, for your own financial health, exercise extreme caution in dealing with any ,Thai based, financial adviser. Link to comment Share on other sites More sharing options...
Misty Posted March 12, 2019 Share Posted March 12, 2019 28 minutes ago, wordchild said: No need to run any checks , just look at the name, Sterling Dunbar! the name screams we are a bucket shop. These kind of operations will often try to use a name that sounds up-market (think deVere) or has elements of a name from a respected, solid, financial brand, Dunbar, anyone remember Allied Dunbar? Nothing to do with this lot i am sure! And they add in Sterling because of its association with strength and wealth , i guess. Barge Pole Job. Reminds me of "Barclay Spencer" of days gone by Link to comment Share on other sites More sharing options...
Oxx Posted March 12, 2019 Share Posted March 12, 2019 The Sterling Dunbar website was created in July last year. Their Facebook page was created in the same month, and hasn't been updated since early August last year. Googling "Sterling Dunbar" doesn't produce any background references to the company. Oh, and the website doesn't list any staff members. I don't think there's a bargepole long enough with which to touch this company. Link to comment Share on other sites More sharing options...
YorkshireTyke Posted March 13, 2019 Author Share Posted March 13, 2019 Thanks all. Oxx I didn't realise it was all so new. Link to comment Share on other sites More sharing options...
YT3k72Em Posted March 13, 2019 Share Posted March 13, 2019 Did they cold call you? If so, that's a red flag right away. Link to comment Share on other sites More sharing options...
YorkshireTyke Posted March 13, 2019 Author Share Posted March 13, 2019 2 hours ago, YT3k72Em said: Did they cold call you? If so, that's a red flag right away. No, I replied to an ad somewhere recently. Link to comment Share on other sites More sharing options...
manchega Posted March 15, 2019 Share Posted March 15, 2019 yes as those other posters state, why oh why. if you are really interested in investing just google a lazy man investment and let it ride. Link to comment Share on other sites More sharing options...
BritManToo Posted March 15, 2019 Share Posted March 15, 2019 On 3/12/2019 at 11:01 AM, YorkshireTyke said: Anyone invested in the above mentioned funds ? Any comments appreciated, good or bad for a novice. Almost all crooks/dodgy. Keep your investment advisers in your home country where they are registered and overseen. Anyone working in Thailand needs to be registered with the Thai SEC, foreigners can't register. Link to comment Share on other sites More sharing options...
CGW Posted March 16, 2019 Share Posted March 16, 2019 16 hours ago, BritManToo said: Almost all crooks/dodgy. Keep your investment advisers in your home country where they are registered and overseen. Anyone working in Thailand needs to be registered with the Thai SEC, foreigners can't register. Agree with the first line! not so sure about "foreigners can't register" MBMG state they are registered with the SEC? Link to comment Share on other sites More sharing options...
BritManToo Posted March 16, 2019 Share Posted March 16, 2019 4 minutes ago, CGW said: Agree with the first line! not so sure about "foreigners can't register" MBMG state they are registered with the SEC? And did they advertise their 'number' with the statement, so you could check? Link to comment Share on other sites More sharing options...
CGW Posted March 16, 2019 Share Posted March 16, 2019 6 minutes ago, BritManToo said: And did they advertise their 'number' with the statement, so you could check? I get a newsletter from them that always states their credentials, that's as far as my relationship with them will ever go so have no reason to start checking. Link to comment Share on other sites More sharing options...
BritManToo Posted March 16, 2019 Share Posted March 16, 2019 11 minutes ago, CGW said: I get a newsletter from them that always states their credentials, that's as far as my relationship with them will ever go so have no reason to start checking. So no number on the 'newsletter', if they had one, I think they would use it. Link to comment Share on other sites More sharing options...
CGW Posted March 16, 2019 Share Posted March 16, 2019 14 minutes ago, BritManToo said: So no number on the 'newsletter', if they had one, I think they would use it. Look at their website they continually state the fact - agree that strange no number, but they are very visible and have been for years - which means little Link to comment Share on other sites More sharing options...
BobHG46 Posted March 16, 2019 Share Posted March 16, 2019 As honest as the day is long. Gives good advice and directs investors to invest directly with the recommended funds as Sterling Dunbar, run by Colin Wilson, does not handle any clients' monies. Sterling Dunbar operates under the umbrella of Phoenix Consultants whose office is in BB Building, Asoke. Link to comment Share on other sites More sharing options...
baansgr Posted March 16, 2019 Share Posted March 16, 2019 Having worked in financial sales worldwide and seeing the strong recent marketing by them, with little research shows your money is not safe. Devere are a similar company. They can be useful around QROPS for those not conversent with their pensions but commission is heavy Link to comment Share on other sites More sharing options...
baansgr Posted March 16, 2019 Share Posted March 16, 2019 6 minutes ago, BobHG46 said: As honest as the day is long. Gives good advice and directs investors to invest directly with the recommended funds as Sterling Dunbar, run by Colin Wilson, does not handle any clients' monies. Sterling Dunbar operates under the umbrella of Phoenix Consultants whose office is in BB Building, Asoke. Some people may remember Colin when he worked for Voova in Jomtien... Link to comment Share on other sites More sharing options...
baansgr Posted March 16, 2019 Share Posted March 16, 2019 17 hours ago, BritManToo said: Almost all crooks/dodgy. Keep your investment advisers in your home country where they are registered and overseen. Anyone working in Thailand needs to be registered with the Thai SEC, foreigners can't register. In my day if you qualified through examinations with the C.I.I. as an Internatianal Financial Advisor there was no need for registration with any regulatory bodies overseas...work permits/visas required of course Link to comment Share on other sites More sharing options...
YorkshireTyke Posted March 16, 2019 Author Share Posted March 16, 2019 40 minutes ago, baansgr said: Some people may remember Colin when he worked for Voova in Jomtien... That's the guy who rang me and sent me the recommendations I mentioned. No follow up from him as yet but I expect there will be. What's the story with Voova? Link to comment Share on other sites More sharing options...
baansgr Posted March 16, 2019 Share Posted March 16, 2019 1 hour ago, YorkshireTyke said: That's the guy who rang me and sent me the recommendations I mentioned. No follow up from him as yet but I expect there will be. What's the story with Voova? He sold advertising space for the Pattaya Trader... Seriously, anyone seeking financial advice should only be from a minimum FPC qualified and preferably AFPC with the relevant G60/pensions G/22 Tax etc adviser. Ex double glazing/car salesman only care about the maximum com and very much doubt they even bother with a fact find. Tread carefully Link to comment Share on other sites More sharing options...
baansgr Posted March 16, 2019 Share Posted March 16, 2019 https://www.whois.com/whois/sterlingdunbar.com Seems they have that much faith in their business that the domain was only registered for one year and expires shortly.....just about says it all. Link to comment Share on other sites More sharing options...
mokwit Posted March 16, 2019 Share Posted March 16, 2019 2 hours ago, baansgr said: In my day if you qualified through examinations with the C.I.I. as an Internatianal Financial Advisor there was no need for registration with any regulatory bodies overseas...work permits/visas required of course You must be very old. You mean Chartered Insurance Institute? How would that qualify you to not need all the various different types of licenses (with their own exams) for different products and types of intermediaries that pretty much EVERY country has. Seriously, you'll be remembering your time in Special Forces next. I accept it might have applied in British Empire countries pre 1939. Link to comment Share on other sites More sharing options...
Misty Posted March 16, 2019 Share Posted March 16, 2019 20 hours ago, BritManToo said: Almost all crooks/dodgy. Keep your investment advisers in your home country where they are registered and overseen. Anyone working in Thailand needs to be registered with the Thai SEC, foreigners can't register. Not correct. There are dozens or more foreigners individually licensed in Thailand. Some have held their licenses for 15+ years. Link to comment Share on other sites More sharing options...
Misty Posted March 16, 2019 Share Posted March 16, 2019 4 hours ago, CGW said: I get a newsletter from them that always states their credentials, that's as far as my relationship with them will ever go so have no reason to start checking. Go to the Thai SEC's website (in English and Thai) and check under "license check". You can look up individuals and firms by name. You can also check who has been sanctioned, or email the Thai SEC and ask if you think something is dodgy. Link to comment Share on other sites More sharing options...
Misty Posted March 16, 2019 Share Posted March 16, 2019 3 hours ago, BobHG46 said: As honest as the day is long. Gives good advice and directs investors to invest directly with the recommended funds as Sterling Dunbar, run by Colin Wilson, does not handle any clients' monies. Sterling Dunbar operates under the umbrella of Phoenix Consultants whose office is in BB Building, Asoke. Looks like they sell offshore funds inside an insurance policy wrapper. The funds are high cost and inferior offerings that generally require this type of platform to get money from investors. Buyers are locked into multiple years of high commissions payable to the "adviser". If you try to get out of the insurance wrapper, you pay all the commission up front. There are tons of good articles about this on the net. See author Andrew Hallam's book Millionaire Expat as well: https://andrewhallam.com/category/expat-investing/ Link to comment Share on other sites More sharing options...
Misty Posted March 16, 2019 Share Posted March 16, 2019 2 hours ago, baansgr said: He sold advertising space for the Pattaya Trader... Seriously, anyone seeking financial advice should only be from a minimum FPC qualified and preferably AFPC with the relevant G60/pensions G/22 Tax etc adviser. Ex double glazing/car salesman only care about the maximum com and very much doubt they even bother with a fact find. Tread carefully The CFA Institute and the CFA designation are the gold standards for investment professionals. Link to comment Share on other sites More sharing options...
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