Hi Fellow forum members,
I was wondering if anyone out there has had anything to do with a company called “The Lifestyle Planner Pty Ltd” (used to be called ExploreITall Technologies). Go to http://www.thelifestyleplanner.com
What were your experiences, good, bad or otherwise? Would be very interested in hearing your opinion as I am considering the purchase of one of their franchises.
I have always appreciated people’s opinion on this forum.
Thanks.
Tim.
Sounds like something a broker would do for you for free. I don’t see any advantage.
Looks like another name for a financial advisor.
Looks a bit different to a financial planner if your read it properly!
I like the bit about redirecting the mortgage broker commission back to you!
Had another look – still looks like a finacial advisor to me. Alot of financial advisors rebate commissions. I know the last one I spoke to did.
Hi there,
Check out that an Anne_Marie Donaldson or especially a Robin ( Rob ) Poumako are not involved. This one is ringing warning bells for me, if it is who I think it is, ASIC are trying to shut them down, crooks, they advertised the The Lifestyle Planner up here months ago ( I think it was that title ) when they were under ASIC orders to not raise money from investors, to whom they owe $20 million. They used to be in Grenfell St in Adelaide, could have moved.
Of course if I am incorrect in my fears, a thousand apologies to the people marketing this system
Brent1
I’m looking into a franchise, as well, I haven’t heard of any of the previous posts people involved. I attended a info night.
I don’t speak for the company, but a Lifestyle Planner (LP) will become a new type of professional that fits in between accountant and financial planner…they charge a set fee but the client can elect to have the brokerage (minus expenses) totally redirected to them…so it can be cf+ for typical loans. The also get a software program to continually enable them to run and adjust their situation, as required.
It was on ACA a couple of years ago, melted down the switch board, such was the interest.
They’ve spent millions developing a program which has about 80 lenders and produces a lifestyle plan (cashflow) which takes into account the clients life and goals and attempts to fund as many as possible with a better financial solution.
They are about to start after having cleared the program with ASIC, apparently.
They may very well redirect comissions back to the client – this is only because they are making money another way – perhaps a fat fee upfront?
I don’t know anything about these folks but please make sure you do your due diligence before using them.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
well the fee may be fat but it may not be – maybe they just charge reasonable transparent hourly rates. I cannot believe the financial services industry is allowed to continue the way it does, with financial planners selling basically whatever the highest commission is on the day and many mortgage brokers putting people into loans with the highest trailers and constantly refinancing (churning) to generate more income. This is particularly so given the ageing population that require these services more than ever.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
I think they have a set fee, like an accountant, and have set it so that the client get better that free service ie money back.
The thing that appeals to me is the way the program has something like 500000 possible variables and how it maps out a clients financial future…one guy said it was the only thing that told him NOT to get that third ip, which somehow reassured him, when everyone else were happy to get him into more debt…
As someone else said on the info night, it empowers the individual to really compare the thousands of bank products (that are really there to confuse people with choice). I don’t think the banks will like it because it will level the playing field.
re due diligence, I’m trying, but as they haven’t started yet, they don’t have a track record, other than a pilot program they embarked on to test the market. Very much a risk, but I like the idea of getting in on the ground floor…
Quote:Originally posted by AusProp:well the fee may be fat but it may not be – maybe they just charge reasonable transparent hourly rates. I cannot believe the financial services industry is allowed to continue the way it does, with financial planners selling basically whatever the highest commission is on the day and many mortgage brokers putting people into loans with the highest trailers and constantly refinancing (churning) to generate more income. This is particularly so given the ageing population that require these services more than ever.
Sounds like you have been watching prime time TV current affairs. I can assure you that most brokers I know are very honest people and don’t refinance folks unless there is a very clear saving demonstrated. People aren’t idiots and will only refinance if there is a clear benefit!
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
[baaa]
Like I said before, the person who did the presentation, was he Rob Poumako, or am I barking up the wrong tree.
Please let me know so that I can change topics
Brent2
Well I’ve never heard ‘Rob Poumako’ mentioned and they’re Vic based…I’m pretty sure you must be thinking of someone else.
hmm,
I seem to remember them selling franchises in something named remarkably close to this. Due diligence, and good luck( still its only money, hey?).
Brent2
well they haven’t sold any franchises, as yet, as far as I know
Originally posted by DeClair:well they haven’t sold any franchises, as yet, as far as I know
Ok sorry for trying to help, I will now leave you alone.
Brent2[sleepyanim]
I would like to know more about the mob you’re thinking of, and thanks for your warning…although in the coming days of regulation, any sharks won’t be able to survive, in any case…not for very long , at least.
Thanks everyone for your responses. I appreciate it. I am still of two minds though.
Regards,
Tim.
Quote:Originally posted by AusProp:well the fee may be fat but it may not be – maybe they just charge reasonable transparent hourly rates. I cannot believe the financial services industry is allowed to continue the way it does, with financial planners selling basically whatever the highest commission is on the day and many mortgage brokers putting people into loans with the highest trailers and constantly refinancing (churning) to generate more income. This is particularly so given the ageing population that require these services more than ever.
That is a pretty strong generalisation isn’t it? I know of no brokers who constantly churn clients.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
These people seem to be mortgage and insurance brokers and they have software which can advise you about which bank accounts/insurance/loans are ‘best’.
In the DIY section it says:
“The program automatically processes implementing any product change or even a change of bank or lender. When the program produces the reports and documentation, you only need to mail them to the address provided and the bank or lender will be in touch to fulfill your request.”Brokerage by stealth??? Who knows…
It only talks about debt/bank products so I’m guessing they don’t recommend shares or bonds or that type of thing…
While they sound good, I’m reluctant to hand over my financial future to a black box…Rgds.
Lucifer_au
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