I was wondering if anyone has had any dealings, as customer or otherwise, with Spring Financial Group? They are a financial planning business that also markets property. The reason I ask is that I am considering doing some business with them as a service provider, I’ve participated in the seminar circuit etc. with quite a few companies in the past and it has been a very mixed experience. These guys seem pretty decent, I know and respect on of the Directors and they are operating in a highly regulated environment so I am pretty confident they will be good to deal with, but any customer comments would be most appreciated.
Not sure if it the same Spring Financial Group as we have in Brisbane but if it is wouldn’t touch them with a barge pole.
If it is someone totally different then sorry have never come across them.
We will have to get together for a coffee when i am next in Melbourne (Should be February) and chat about our Short Term Business lending offing.
We are doing a ton of business so sure we can help you with your enquiries.
Yours in Finance
hanks for he reply, it would be a different business as they are Sydney based. I’m highly confident they are not in any way dodgy, just interested in customer experience its always a bit of a risk being seen to be attached to a third party so its best to do some independent research before reaching any agreement. These guys are actually in the middle of floating on the ASX, as well as operating under their own AFSL, so everything is open to scrutiny, the only thing I’m missing is some customer feedback. The prospectus is probably worth a look actually as they are very profitable and selling on an 8.8% fully franked yield, I’m going to take a small number of shares regardless of whether I end up doing business with them or not.
I would be great to catch up when you’re down here. There has been no reduction in demand for private funds so there are still plenty of great opportunities.
Sounds like a totally different business and I am sure all above board.
Once I have my dates for my next visit to Melbourne I will give you a shout and we can catch up.
Yes agree I think the Short Term lending market is really going to kick off this year.
Yours in FinanceRedwoodParticipant@redwoodJoin Date: 2013Post Count: 340
Spring does have an office in Brisbane – Richard would you like to share your experience to assist others reading?
They don’t fit into the ‘one-stop’ shop category as they seem to outsource finance and most likely PM.
Had a number of Forum clients who were buying thru them and when we saw where the properties were located they were surprise surprise overpriced as usual.
In most cases the valuations came in at an amount less the marketing fees circa 40-60K.
Yours in Finance
Thanks for the feedback Richard, where were they selling? My understanding is that they deal solely with large developers, I won’t mention names, but one of them I’ve experienced low vals on most of their deals, I multiple states, but mostly because they spec their units up rather than the resale value not being there. I’ll bring your comments up with them though, the guys who run it will find them interesting.
The 2 /3 deals we got in from them in Brisbane where down in Browns Plains / Jimboomba.
They were standalone freehold houses on an estate and where told the area was owner occupied.
When i called a couple of local agents they told me the whole street had been sold to investors and the rental demand was non existant.
Yours in FinanceBillParticipant@moneytree1234Join Date: 2016Post Count: 2
Spring Financial are very dodgy as mentioned above they simply marketers dressed up as advisers, They brought out Moneytree partners in Sydney who specialized in the cookie cutter advice model that focused solely products with the highest rates of commission. I would recommedn CBA advisers over this lot!BillParticipant@moneytree1234Join Date: 2016Post Count: 2
Spring Financial are very dodgy as mentioned above they simply marketers dressed up as advisers, They brought out Moneytree partners in Sydney who specialized in the cookie cutter advice model that focused solely products with the highest rates of commission. I would recommend CBA advisers over this lot!