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Law Man
Posted: 02 April 2017 11:08:11(UTC)
#24

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Alan Selwood: re yours 31/03/2017:

"In the little backwater where I live, we are trying to set up a group of people who can help and educate everyone in the area into ways of avoiding the scammers and conmen."

Can you please explain, briefly, how you organized this, and with what effect. In particular, what is the forum to attract interest, and how do you publicize it.

There must be many people, like me, who are not investment professionals but who have learned by experience; and who have the time and inclination to give back to society.

A specific, but peripheral aspect, is that we should not give advice, nor be exposed to liability claims. Sometimes we are punished for our kindnesses.
lynne shaffer
Posted: 02 April 2017 12:00:18(UTC)
#25

Joined: 15/03/2011(UTC)
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I actually wrote on a Citywire thread about the fact that i invested £70,000 and after 10 years, its value was £200-Yes £200!!

I wrote to teh FCA and after several months of answering their questions using no lawyers and only a layman's knowledge, I was awarded £120,000 in compensation.

So, it's always worth trying to appeal against what's happened to you.
1 user thanked lynne shaffer for this post.
Mickey on 02/04/2017(UTC)
Stephen Sefton
Posted: 02 April 2017 13:34:39(UTC)
#27

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I totally agree Jeffian. There are sharks in every pond!
xcity
Posted: 02 April 2017 13:43:01(UTC)
#21

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jeffian;45373 wrote:
it is not just "scammers and conmen"; we all need to do what we can for elderly friends and relatives to ensure that they are not also being exploited by those who should know better.

Agree completely.
Even intelligent consumers can be sucked in by scammers, but vulnerable people can be taken advantage of by all and sundry, including some with qualifications and duties of care.

And vulnerability isn't just about dementia. It can happen to any of us at any time - illness, trauma, being overstretched by life events etc. - or having to make decisions in areas where we have little knowledge and no time to acquire it.
Stephen Sefton
Posted: 02 April 2017 13:44:06(UTC)
#26

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Deleted
1 user thanked Stephen Sefton for this post.
lynne shaffer on 03/04/2017(UTC)
Stephen Sefton
Posted: 02 April 2017 14:06:02(UTC)
#22

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Stephen Sefton
Posted: 03 April 2017 05:38:05(UTC)
#23

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jeffian
Posted: 03 April 2017 08:56:42(UTC)
#28

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"I too am interested in Alan's self help group but would like to reach a much wider audience and that is the difficult part. Reaching those that need advice is extremely difficult."

Indeed, Stephen, and where Alan's idea is invaluable is in reaching those who don't actually recognise they need advice and help and, therefore, are unlikely to do the searches you suggest. My mother rather enjoyed the weekly calls from the broker selling her spivvy AIM penny stocks. She thought he was a 'nice man', as she did the building society manager who inappropriately sold her 5 x £50k managed bonds. A friend whose father was convinced he was a share dealing genius had to change his father's telephone number without his knowledge to stop the daily sales pitches from a number of brokers and another friend only found out by chance that her mother was withdrawing £5000 bundles of cash and handing it to a courier who came to her house because her mother was abiding by instructions to keep it secret as she was "helping to uncover a fraud at the bank". To this day none of those people ever thought they were being scammed and wouldn't have sought help anyway.
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Guest on 15/05/2017(UTC)
Stephen Sefton
Posted: 03 April 2017 09:55:02(UTC)
#29

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jeffian;45402 wrote:
... where Alan's idea is invaluable is in reaching those who don't actually recognise they need advice and help and, therefore, are unlikely to do the searches you suggest...


Spot on.
Stephen Sefton
Posted: 05 April 2017 08:06:19(UTC)
#30

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Alan Selwood
Posted: 07 April 2017 07:52:40(UTC)
#31

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Sorry that I haven't responded to comments and requests in the last few days about community support for those who risk being scammed (or who have been). I've had a very busy few days.

I hope to be able to say more soon. If not, keep the point alive and prod me!
Stephen Sefton
Posted: 08 April 2017 15:59:00(UTC)
#32

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Alan Selwood
Posted: 08 April 2017 22:18:46(UTC)
#33

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If it also works out on the last 8%, we shall all be very pleased for you.
Stephen Sefton
Posted: 10 April 2017 04:35:50(UTC)
#34

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2 users thanked Stephen Sefton for this post.
Alan Selwood on 10/04/2017(UTC), xcity on 08/05/2017(UTC)
Stephen Sefton
Posted: 08 May 2017 10:18:11(UTC)
#35

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xcity on 08/05/2017(UTC)
andy mac
Posted: 08 May 2017 10:33:12(UTC)
#36

Joined: 12/02/2016(UTC)
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Stephen you are correct there are plenty of people out there trying to get your money
You at least seem to have recovered most
But what about the unwary?
Perhaps you can interest someone like the newspapers or watchdog tv show on
The scam itself
The lack of concern from the watchdogs
How you got your money back ( or most of it)
Dont forget when your political candidates come calling commit them to do something after the election and then make sure you follow up on them

Dont forget the hard work you have done has got your money back, the satisfaction and also if you were charging professional rate for your time you have probably saved another 50K
2 users thanked andy mac for this post.
Mickey on 08/05/2017(UTC), Alan Selwood on 08/05/2017(UTC)
Stephen Sefton
Posted: 08 May 2017 11:10:47(UTC)
#37

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Deleted
3 users thanked Stephen Sefton for this post.
Mickey on 08/05/2017(UTC), xcity on 08/05/2017(UTC), Alan Selwood on 08/05/2017(UTC)
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