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  #41  
Old 18.11.2012, 22:10
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Re: WorldWide Broker?

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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?
EU citizens who work less than 90 days don't need any permit at all, just register. I suspect most of the mugs that take the plunge realise it's a waste of time in the 90 day period!
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  #42  
Old 19.11.2012, 11:58
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Re: WorldWide Broker?

Still no reply by WorldWide Broker itself. Just my guess: there is simply no legal entity called WWB in Switzerland and the people presenting themselves as WWB Zürich are self employed and are paid on commission (franchise) by a Dutch company.
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  #43  
Old 19.11.2012, 12:13
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Re: WorldWide Broker?

Hello all,

I just happened to have come across this thread, and I would like to say that I have received very professional advice from WWB. While I have not engaged in a business transaction with them (for personal reasons as my American citizenship means that it's easier for me to keep my funds in the US), I found Robert to be very professional, engaged, and helpful.


All the best,

Leslie Anne
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  #44  
Old 19.11.2012, 12:45
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Re: WorldWide Broker?

I want to know what qualifications these brokers hold. I want to see something recognised along the lines of an MSc or PhD in Finance or CFA. Or credible evidence of top quality working experience at reputable international firms that can be easily corroborated.

Why else would I entrust someone with my money unless they were more qualified in the field of investments and wealth management than me?

Looking forward to the response.
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  #45  
Old 19.11.2012, 12:51
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Re: WorldWide Broker?

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Still no reply by WorldWide Broker itself. Just my guess: there is simply no legal entity called WWB in Switzerland and the people presenting themselves as WWB Zürich are self employed and are paid on commission (franchise) by a Dutch company.
Could be, I do not know. But in this case how would they get their work permits?
If the people presenting themselves as WWB Zürich are self employed & there is simply no legal entity called WWB in Switzerland then, in the extremely unlikely event of a problem, who could a client go to for help?
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  #46  
Old 19.11.2012, 14:18
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Re: WorldWide Broker?

I recently had the pleasure of meeting one of their advisors. I would recco to stay away. Typical blend of arrogance, stupidity and confidence. Never again.

These salesmen quickly assess how much you can spend and what product you can buy - depending on your age, experience etc. Not necessarily what is needed for you. I am not skeptical, I love investing and I believe it is an art more than some type of hard science.

As posted earlier, please read other threads warning people of bad experiences from such professionals.
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  #47  
Old 19.11.2012, 14:19
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Re: WorldWide Broker?

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Could be, I do not know. But in this case how would they get their work permits?
If the people presenting themselves as WWB Zürich are self employed & there is simply no legal entity called WWB in Switzerland then, in the extremely unlikely event of a problem, who could a client go to for help?

Exactly, clients can probably write to the complaints departmetn in Holland or somewhere!,
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  #48  
Old 19.11.2012, 15:12
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Re: WorldWide Broker?

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Hello all,

I just happened to have come across this thread, and I would like to say that I have received very professional advice from WWB. While I have not engaged in a business transaction with them (for personal reasons as my American citizenship means that it's easier for me to keep my funds in the US), I found Robert to be very professional, engaged, and helpful.


All the best,

Leslie Anne
Do I understand correctly? You received very professional advice from WWB but you did not follow it & kept your funds in the US. So you don't have any actual experience of investing & of the subsequent success based on their advice?
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  #49  
Old 19.11.2012, 15:19
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Re: WorldWide Broker?

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Do I understand correctly? You received very professional advice from WWB but you did not follow it & kept your funds in the US. So you don't have any actual experience of investing & of the subsequent success based on their advice?
She does seem to have more experience of them than you or anyone else on this thread though. I wonder if you might be a little more pleasant to your fellow forum member and less full of sarcasm.
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  #50  
Old 19.11.2012, 15:39
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Re: WorldWide Broker?

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She does seem to have more experience of them than you or anyone else on this thread though. I wonder if you might be a little more pleasant to your fellow forum member and less full of sarcasm.
Full of Sarcasm? I was just checking my understanding was correct.

Sarcasm is more like "how odd that all the WWB supporting messages come for "Newbies" who do not specifically state they have no commercial connection with the company.

Or
"I do not quite see how your post is related to this topic"
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  #51  
Old 19.11.2012, 16:31
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Re: WorldWide Broker?

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Hello all,

I just happened to have come across this thread, and I would like to say that I have received very professional advice from WWB. While I have not engaged in a business transaction with them (for personal reasons as my American citizenship means that it's easier for me to keep my funds in the US), I found Robert to be very professional, engaged, and helpful.


All the best,

Leslie Anne
Hi Leslie Anne,

I must admit being a bit suspicious myself as well, maybe it's my nature:-) Can you just confirm "Robert" is not by any chance a personal friend and that you were not asked to post a positive message?
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  #52  
Old 19.11.2012, 19:55
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Re: WorldWide Broker?

Hello all,

Thanks for your comments.

Here is my situation, so that you know where I am coming from. I am a US citizen, but have lived abroad a long time (mostly in Africa). However, I have always kept my (meager) savings in my US brokerage account, as my employer was a US not-for-profit organization.

Now that my employer is Swiss, I wanted to understand what I can (and cannot) do, as an American citizen. This new legislation makes it really tough for us Americans, as I found that my bank (UBS) will not allow me to open a money market account. I cannot even get a mortgage here because of my nationality! I met WWB at an expat event, and I agreed to have a meeting with Robert (who is not a personal friend, mind you).

While I was not very impressed with their phone staff (a bit pushy and sales-y for my taste), I did find Robert to offer some interesting advice. However, he was also very upfront that they too are learning about what is possible for US citizens, and since they do not have specific expertise in that area (which he was very honest about), I did not think that they were the ideal advisor for me. I am also more of a self-investor, using my Charles Schwab account and its recommended ETF funds for the bulk of my savings. So I just didn't think it was a fit.

So, as a person, Robert was very professional and helpful. But, overall, I found WWB not really aligned with what I need. Further, because they make their money on fees of the products they sell (like many such brokers), I also questioned whether they push one product over another because they get paid more (rather than because it was a good fit for me.) There are other models here in Switzerland (such as MyMoneyPark)which have a different model (charge an advisory fee, but not make anything on products sold). I prefer this model, but MyMoneyPark was also unable to offer anything to this American citizen. Drat!

I think a lot of valid comments and questions have been raised here. But, because I ended up not doing any business with WWB, I am unable to show, with any proof, that this engagement has led to attractive returns.

At this point, like Homer Simpson, I am considering investing in pumpkins.

All the best,

Leslie Anne

Last edited by Leslie Anne; 19.11.2012 at 22:38. Reason: I put the wrong name for MyMoneyPark.
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  #53  
Old 19.11.2012, 20:07
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Re: WorldWide Broker?

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Full of Sarcasm? I was just checking my understanding was correct.

Sarcasm is more like "how odd that all the WWB supporting messages come for "Newbies" who do not specifically state they have no commercial connection with the company.

Or
"I do not quite see how your post is related to this topic"
Yup. WWB sends people who don't become their clients so represent them. Also that poster has been a member for over a year before WWB was ever mentioned here. Please tell me in which ways you aren't a bored fool libelling a company you know nothing about.
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  #54  
Old 20.11.2012, 00:25
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Re: WorldWide Broker?

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Yup. WWB sends people who don't become their clients so represent them. Also that poster has been a member for over a year before WWB was ever mentioned here. Please tell me in which ways you aren't a bored fool libelling a company you know nothing about.
Please tell me when, where & how I have libelled WWB? I assume you do know what the word libel means?
I have been very careful to either state facts or to raise questions that are still open.

About your earlier statement "I wonder if you might be a little more pleasant to your fellow forum member...."

I have read through some of your earlier posts including the one above where you describe me as a "bored fool" - in the context of being a little more pleasant to your fellow forum members you are hardly leading by example are you?

As I posted earlier you are
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  #55  
Old 20.11.2012, 00:38
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Re: WorldWide Broker?

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Hello all,

Thanks for your comments.

Here is my situation, so that you know where I am coming from. I am a US citizen, but have lived abroad a long time (mostly in Africa). However, I have always kept my (meager) savings in my US brokerage account, as my employer was a US not-for-profit organization.

Now that my employer is Swiss, I wanted to understand what I can (and cannot) do, as an American citizen. This new legislation makes it really tough for us Americans, as I found that my bank (UBS) will not allow me to open a money market account. I cannot even get a mortgage here because of my nationality! I met WWB at an expat event, and I agreed to have a meeting with Robert (who is not a personal friend, mind you).

While I was not very impressed with their phone staff (a bit pushy and sales-y for my taste), I did find Robert to offer some interesting advice. However, he was also very upfront that they too are learning about what is possible for US citizens, and since they do not have specific expertise in that area (which he was very honest about), I did not think that they were the ideal advisor for me. I am also more of a self-investor, using my Charles Schwab account and its recommended ETF funds for the bulk of my savings. So I just didn't think it was a fit.

So, as a person, Robert was very professional and helpful. But, overall, I found WWB not really aligned with what I need. Further, because they make their money on fees of the products they sell (like many such brokers), I also questioned whether they push one product over another because they get paid more (rather than because it was a good fit for me.) There are other models here in Switzerland (such as MyMoneyPark)which have a different model (charge an advisory fee, but not make anything on products sold). I prefer this model, but MyMoneyPark was also unable to offer anything to this American citizen. Drat!

I think a lot of valid comments and questions have been raised here. But, because I ended up not doing any business with WWB, I am unable to show, with any proof, that this engagement has led to attractive returns.

At this point, like Homer Simpson, I am considering investing in pumpkins.

All the best,

Leslie Anne
About "At this point, like Homer Simpson, I am considering investing in pumpkins" me too
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  #56  
Old 20.11.2012, 00:45
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Re: WorldWide Broker?

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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.
Why on earth would they need a license to introduce banking services?
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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
Origins and formal establishment are two very different things. Aren't they?
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  #57  
Old 20.11.2012, 01:03
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Re: WorldWide Broker?

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Hello all,
This new legislation makes it really tough for us Americans, as I found that my bank (UBS) will not allow me to open a money market account. I cannot even get a mortgage here because of my nationality!
A little off topic but you should be able to get a mortgage even as an American. My wife (US Citizen) has a mortgage with UBS and I have other US friends who have recently had mortgages approved. All for Swiss houses as main residences.
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Old 21.11.2012, 21:31
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Re: WorldWide Broker?

Sorry that I haven't replied so far but it will take some time to answer everything here and I'm extremely busy. I have more than 100 clients and a team to manage at a very busy time of year.

I can however reassure people who have asked legitimate questions that I will answer them in full and that we do work within the law, are qualified, regulated where required, pay tax, have work permits & our corporate structure is normal. For those that have simply attacked us or WWB then I'm not willing to engage with those people, although anybody that wishes to meet me & my team they can come to our offices anytime.

Also, it does strike me that some people on this forum have no obvious identity, sorry to sound naive if there's a legitimate reason for this (and I do believe deeply in freedom of speech) but this sort of gives people to license to write absolutely anything without recourse.

I'll endeavor to be more specific to the legitimate questions in the next few days.
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  #59  
Old 21.11.2012, 21:50
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Re: WorldWide Broker?

On general principles I don't trust any organization that coldcalls.

When business relationship starts on the premise of someone I don't know interrupting my life to persuade me to pay for something I don't want - it has very little future in my eyes.
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Old 22.11.2012, 11:45
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Re: WorldWide Broker?

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... Just my guess: there is simply no legal entity called WWB in Switzerland and the people presenting themselves as WWB Zürich are self employed and are paid on commission (franchise) by a Dutch company.
There is no WWB or WorldWideBroker listed in the Swiss company register.

Other info:
Dellham corporate ("a rapidly expanding offshore consultancy focussing on the top echelon of high net worth expatriates" source)
Moneyhouse (company 1, company 2)
WWB Meet the (Swiss) team

"WorldWideBroker Switzerland
Kronenplatz 14
8953 Dietikon
Zurich"
WWB site Google maps


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I'll endeavor to be more specific to the legitimate questions in the next few days.
Excellent. If advisers expect their clients to reveal all about their financial affairs, it's only reasonable that clients should expect specifics on the advisers' background and qualifications to give advice.

Last edited by Reb77Br; 22.11.2012 at 12:19.
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