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  #21  
Old 14.11.2012, 12:11
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Re: WorldWide Broker?

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Blacktower and WorldWideBroker are legal separate entities but have certain strategic alliances in place. Your link simply shows that Blacktower are authorised & regulated. This is common in all industries...

Your 2nd link simply is an ex-disgruntled employee. What's your point? This is the first time I have ever joined a forum like this & I'm shocked at the negativity especially that we have never met or had a business relationship of any type.
Information freely available online and for people to make of what they wish.

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Finally, I’d like to add that I have worked as a financial adviser in Switzerland for 5 years and I have many clients that would be happy to testify to our care and attention.
You have worked for WWB for 5 years or for other companies? Potential clients are likely to be interested in the specifics of your career history and professional qualifications (also prior to 5 years ago). Your LinkedIn profile does not say.
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  #22  
Old 14.11.2012, 12:17
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Re: WorldWide Broker?

Seems to be some discussion starting here in CH about better regulating financial advisers following the ASE Investment debacle but I guess we are a long way from anything happening?
Article in Tagesanzeiger (German Language)
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  #23  
Old 14.11.2012, 13:03
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Re: WorldWide Broker?

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You have worked for WWB for 5 years or for other companies? Potential clients are likely to be interested in the specifics of your career history and professional qualifications (also prior to 5 years ago). Your LinkedIn profile does not say.
here's what the Chairman's bio states on their web site..

My history in financial services dates back to 1986 when working for insurance companies and brokerages in London. Since moving to The Netherlands in 1991 I have been involved at a senior level with a number of successful brokerages.

why would someone with such an illustrious career shy away from naming the companies he has worked at..??
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  #24  
Old 15.11.2012, 14:05
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Re: WorldWide Broker?

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I'm shocked at the negativity especially that we have never met or had a business relationship of any type.
You can put this down to a wide distrust of of the whole financial services industry. Given the events from 2008 onwards, such distrust seems somewhat justified.
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  #25  
Old 15.11.2012, 14:21
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Re: WorldWide Broker?

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Good to see WorldWideBroker is registered with the AFM in Holland.

So far as I can understand from reading the Dutch language AFM site WorldWideBroker is authorised to offer life insurance advice outside of Holland to a list of EU countires that does not include Switzerland (CH is of course not an EU country). Did I understand correctly?
In the absence of any comment I assume that I am correct that WorldWideBroker is not regulated in any way or form in Switzerland.
I am not saying this is the fault of WorldWideBroker; it may well be that there is no suitable regulatory framework here for WorldWideBroker to join.

Nevetheless any potential customer of WorldWideBroker should be aware that in the extremely unlikely event of a problem with their WorldWideBroker investment then there is nowhere to take any complaints to...
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  #26  
Old 16.11.2012, 12:44
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Re: WorldWide Broker?

Folks, be careful it seems Worldwide Broker is on the prowl.

Several members from my team got cold calls. Just follow this thread and STAY SAFE:

http://www.englishforum.ch/finance-b...ors-prowl.html
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  #27  
Old 16.11.2012, 18:34
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Re: WorldWide Broker?

Yes the thread is becoming very interesting. What I don’t understand is that that while the address is in Zürich, the phone number that is given is actually in Geneva and is registered on WorldWideBroker Sàrl,chemin de Blandonnet 4, 1214 Vernier/GE but that this company does not exist according to the company registry. Admittedly, on moneyhouse.ch you can see that there used to be a company called WorldwideBroker Sàrl but that it changed name to Liberty Wealth Management Sàrl. But I don’t see a Mr. Robert Midgley as a director there so it cannot be the same company. So it is all a bit confusing for me. Is there actually a company called WorldWideBroker in Switzerland ? Or are you actually operating out of the Netherlands with no local license in Switzerland? Thanks for clarifying.
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  #28  
Old 16.11.2012, 19:41
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Re: WorldWide Broker?

Worldwide Broker has changed its name to Liberty Wealth Management Sàrl.

http://ge.ch/hrcintapp/externalCompa...ofrcLanguage=2


Here is the original information (in FR) from the Geneva registry. It mentions one of the owners being based in NL.

WorldWideBroker Sàrl, à Genève, rue du Rhône 14, 1204 Genève,
CH-660-0596010-4. Nouvelle société à responsabilité limitée. Statuts
du 01.03.2010. But: conseils, principalement aux expatriés, et en
particulier dans les domaines de la planification de la retraite, du
financement des études, de la gestion d’actifs et de portefeuille, ainsi
qu’en matière d’assurance-vie et de financement hypothécaire (cf.
statuts pour but complet). Obligation de fournir des prestations
accessoires, droits de préférence, de préemption ou d’emption: pour
les détails, voir les statuts. Capital: CHF 20’000. Organe de publication:
Feuille Officielle Suisse du Commerce. Communication aux
associés: par écrit ou par courriel. Associés: Macritchie Iain Malcolm,
de Grande-Bretagne, à Genève,
pour 98 parts de CHF 100, et Brown
Paul Michel, de Grande-Bretagne, à Voorburg, NL
, pour 102 parts de
CHF 100. Gérant: l’associé Macritchie Iain Malcolm avec signature
individuelle; l’ autre associé n’exerce pas la signature sociale. Selon
déclaration du gérant du 01.03.2010, la société n’est pas soumise à
un contrôle ordinaire et renonce à un contrôle restreint.

Registre journalier no 3816 du 03.03.2010 / CH-660.0.596.010-4 / 05532112
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  #29  
Old 16.11.2012, 20:07
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Re: WorldWide Broker?

If it would be a name change, worldwidebroker would have to make reference to Liberty Wealth Mgt on their website, which they don't. It looks rather that Liberty stopped working with worldwidebroker and that someone else is now using the name but that these new people are only licensed abroad and do not really exist in Switzerland as a company. But I guess Worldwidebroker will soon clarify the situation on this site to put minds at ease.
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  #30  
Old 16.11.2012, 20:53
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Re: WorldWide Broker?

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[B]

Fatmanfilms
This comment is meaningless. Our website states the following:
“WorldWideBroker is seeking to expand its exiting distribution by recruiting qualified, experienced advisers to join our team of professionals…”

Not sure what Fatman expects from financial advisory group?
OK Robert I will bite as I was not born yesterday.

"Our generous franchise package includes: top level remuneration, a dedicated telesales team to ensure each adviser is kept busy and productive, professional representational offices and full administration support. We pride ourselves on having a driven and enthusiastic yet friendly working atmosphere and an unrivalled level of staff retention. With origins dating back to 1991 each adviser will benefit from the extensive knowledge and experience of a central management team in each location
Your experience:- The ideal candidate must have proven success as a financial adviser, either from working in the UK, Netherlands or overseas. The applicant must be hardworking, confident, and target -driven, but also a team player as the nature of our company is to work together to maximize the potential for each adviser. The applicant should also possess a full clean driving license and be financially stable."

You looking for high pressure sales people to sell high commission junk, nothing to do with actually giving financial advice!
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  #31  
Old 16.11.2012, 21:01
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Re: WorldWide Broker?

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If it would be a name change, worldwidebroker would have to make reference to Liberty Wealth Mgt on their website, which they don't. It looks rather that Liberty stopped working with worldwidebroker and that someone else is now using the name but that these new people are only licensed abroad and do not really exist in Switzerland as a company. But I guess Worldwidebroker will soon clarify the situation on this site to put minds at ease.

It was a name change from WWB to LWM.

"WorldWideBroker Sàrl, à Genève, CH-660-0596010-4 (FOSC du
12.12.2011, p. 0/6454802). Nouvelle raison sociale: Liberty Wealth
Management Sàrl. Nouveau siège: Vernier, chemin de Blandonnet
2, 1214 Vernier. Statuts modifiés le 20.02.2012."

Registre journalier no 3089 du 22.02.2012 / CH-660.0.596.010-4 / 06569456
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  #32  
Old 16.11.2012, 21:07
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Re: WorldWide Broker?

"Established at the beginning of 2010 and formed as a result of an independent break away from a large, international investment management group, Liberty Wealth has quickly grown in it’s own right to become a leading name in the world of independent wealth management."

Link: http://www.liberty-wealth.com/why-liberty/about-us
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  #33  
Old 16.11.2012, 22:36
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Re: WorldWide Broker?

This Liberty has only 20K in capital and the managing partner who was reacting angrily on this forum is not mentioned as a director so he would have no signing authority in the company? I rather think the two are not or no longer related. Maybe "WWM Zürich" is not a Swiss company with local staff at all and is working without being locally regulated (polyreg or finma) nor having a Swiss legal entity. I am not saying this is illegal, Switzerland has a quite liberal regime and it is one of the few countries in Europe where such cross border business (from Holland to Switzerland) is allowed in financial intermediation without local regulation. But maybe WWM can enlighten us about their status?
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  #34  
Old 17.11.2012, 11:38
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Re: WorldWide Broker?

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Worldwide Broker has changed its name to Liberty Wealth Management Sàrl.

http://ge.ch/hrcintapp/externalCompanyReport.action?companyOfrcId13=CH-660-0596010-4&ofrcLanguage=2


I see one founder of this company is named Paul Michel Brown who possibly could be related to the Paul Brown; chairman of the Worldwidebroker company in Netherlands?

Wonder why they still operate under the old name?
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  #35  
Old 17.11.2012, 11:44
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Re: WorldWide Broker?

On March 15th 2012 Liberty announced on their web site "the introduction of new services, including on-line foreign exchange dealing, international banking services and on-line mortgage applications."

I do not find any reference to a Swiss banking licence, maybe I missed it somehow?

The law is
"It is important to note that only the core bank activity (asset management) requires a license, while money transfer, commodities trading, and trade finance are not deemed core banking activities and do not require a banking license. A credible and substantiated business plan as well as personal trustworthiness with regard to proper conduct of business operations are key for obtaining a new banking license. (Swiss Banking Law, Article 3).
According to regulatory standards, a minimum of CHF 15 million minimum paid-in capital is required.

Last edited by marton; 17.11.2012 at 12:56.
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  #36  
Old 17.11.2012, 11:50
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Re: WorldWide Broker?

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OK Robert I will bite as I was not born yesterday.

"Our generous franchise package includes: top level remuneration, a dedicated telesales team to ensure each adviser is kept busy and productive, professional representational offices and full administration support. We pride ourselves on having a driven and enthusiastic yet friendly working atmosphere and an unrivalled level of staff retention. With origins dating back to 1991 each adviser will benefit from the extensive knowledge and experience of a central management team in each location
Your experience:- The ideal candidate must have proven success as a financial adviser, either from working in the UK, Netherlands or overseas. The applicant must be hardworking, confident, and target -driven, but also a team player as the nature of our company is to work together to maximize the potential for each adviser. The applicant should also possess a full clean driving license and be financially stable."

You looking for high pressure sales people to sell high commission junk, nothing to do with actually giving financial advice!
Franchise? Is there an implication that you have to pay to join?

About "With origins dating back to 1991...."
Whereas the Liberty web site states "Established at the beginning of 2010 and formed as a result of an independent break away from a large, international investment management group"

Curiouser & curiouser..... to quote from Alice in Wonderland
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  #37  
Old 17.11.2012, 12:53
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Franchise? Is there an implication that you have to pay to join?

About "With origins dating back to 1991...."
Whereas the Liberty web site states "Established at the beginning of 2010 and formed as a result of an independent break away from a large, international investment management group"

Curiouser & curiouser..... to quote from Alice in Wonderland
So you expect them to be honest & tell the whole truth & nothing but the truth!
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  #38  
Old 17.11.2012, 16:20
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Re: WorldWide Broker?

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......... Yes, there are probably some fine advisers out there, but they are like needles in a huge haystack. ...................
Basic problem is even the fine advisers have to earn a living and their only source of income is you, either directly by charging a fee or indirectly by benefiting from your investments in some way; like commission.

So you know any investment you make via an adviser will always reduce your possible returns, only question is by how much?
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  #39  
Old 17.11.2012, 17:59
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Re: WorldWide Broker?

Looking at the fundsmith shareholder meeting you may get some idea how charges on a fund can decimate performance.

http://m.youtube.com/#/watch?v=e5sSm...%3De5sSm7IDaLE
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  #40  
Old 18.11.2012, 21:33
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Re: WorldWide Broker?

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This Liberty has only 20K in capital and the managing partner who was reacting angrily on this forum is not mentioned as a director so he would have no signing authority in the company? I rather think the two are not or no longer related. Maybe "WWM Zürich" is not a Swiss company with local staff at all and is working without being locally regulated (polyreg or finma) nor having a Swiss legal entity. I am not saying this is illegal, Switzerland has a quite liberal regime and it is one of the few countries in Europe where such cross border business (from Holland to Switzerland) is allowed in financial intermediation without local regulation. But maybe WWM can enlighten us about their status?
So for which company do the Swiss based WorldWide Broker people actually work for & do they conform to boring Swiss regulations like, for example, work permits?
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