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Old 28.03.2012, 13:30
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The Local and financial advice for expats

Applying the usual "name no names" rule to protect the innocent:

A company which offers financial advice to expats and which recently opened an office in Zurich, now has a sponsored article in The Local.

The company's country manager for Switzerland says that he's been working as a wealth manager for an unnamed entity in Zurich since 2010. According to this, he's been working at "Venere".

There are others from this company who used to work at Vineer (e.g. one, two, three and this guy whose profile used to say that he worked for the beers in Munich).

The company nevertheless professes high professional standards, as does The Local:
Quote:
Sponsored articles are subject to the same rigorous quality control checks as all our articles. And by producing them like any other editorial material, our goal is to make sponsored articles as interesting and as valuable to the readers as the rest of our content.
http://www.thelocal.se/advertise/sponsoredarticles.pdf
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  #2  
Old 28.03.2012, 16:17
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Re: The Local and financial advice for expats

Coincidentally, the above company has been registered in Sweden (where the sponsored article appeared and where The Local has its headquarters) only since September last year, registered for corporate tax only since last month, while Veneer announced the opening of an office in Sweden only last month (but does not appear to be formally registered).
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Old 28.03.2012, 16:24
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Re: The Local and financial advice for expats

Mark would be so proud of what ef has become
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Old 28.03.2012, 16:30
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Re: The Local and financial advice for expats

Reb, thanks for the links I need some financial advice (pension, investments) so will contact these guys, do you have a specific contact there?
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Old 28.03.2012, 16:34
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Re: The Local and financial advice for expats

The information is not intended as a recommendation.

Last edited by Reb77Br; 28.03.2012 at 16:53.
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Old 28.03.2012, 16:36
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Re: The Local and financial advice for expats

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The information is not intended as a recommendation.
Anyone who is contacted by the beers should run as fast as they can.
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Old 28.03.2012, 16:37
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Re: The Local and financial advice for expats

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Reb, thanks for the links I need some financial advice (pension, investments) so will contact these guys, do you have a specific contact there?

I do hope that was a joke
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Old 28.03.2012, 16:43
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Re: The Local and financial advice for expats

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Anyone who is contacted by the beers should run as fast as they can.
Anyone who is contacted by anyone offering financial advice or investment tips should run as fast as they can.
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Old 28.03.2012, 16:47
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Re: The Local and financial advice for expats

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Reb, thanks for the links I need some financial advice (pension, investments) so will contact these guys, do you have a specific contact there?
Hey, let's not waste time.
You need a 25 year offshore life assurance product (fully portable) with Generali, and transfer your pension to Malta.

Can I have my commission now please?
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Old 28.03.2012, 16:48
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Re: The Local and financial advice for expats

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Mark would be so proud of what ef has become

Ditto.

cheers
SC
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Old 28.03.2012, 17:04
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Re: The Local and financial advice for expats

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Hey, let's not waste time.
You need a 25 year offshore life assurance product (fully portable) with Generali, and transfer your pension to Malta.

Can I have my commission now please?
I want to go & live in Malta, however I don't want any life insurance products.
I never see the point in paying for life insurance, I will be dead come out pay out time, so it's a bad deal full stop.
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Old 28.03.2012, 17:18
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Re: The Local and financial advice for expats

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I never see the point in paying for life insurance
Aha, you see, it's not life insurance, it's life assurance you use as an investment vehicle, it's just a 'wrapper' for your funds, keep the tax man away.

It's very complicated, too complicated for me to explain, but never fear, it's perfect for you, and you can choose whatever funds you like from Generali's portfolio, and change as often as you like.

What's not to like?
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Old 28.03.2012, 17:23
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Re: The Local and financial advice for expats

Hi, what's the return on the Generali investment fund?
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Old 28.03.2012, 17:26
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Re: The Local and financial advice for expats

Oh, fook me, it's massive!

Don't worry about the charges, these funds out perform anything on the market.

Take a look at their Greek Bond fund, safe as houses, great returns.

OK, all the bonds are held under the Generali account, so if it all goes wrong, the compensation, if any, can only be calculated as for one investor, but hey, what are the chances of that happening?
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Old 28.03.2012, 17:35
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Re: The Local and financial advice for expats

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Hi, what's the return on the Generali investment fund?

OccupationI'd love to say Lion Tamer but I work in Finance

Are you sure??????
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Old 28.03.2012, 17:36
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Re: The Local and financial advice for expats

Apart from the above coincidental similarities, i.e. using Venere staff* and setting up in Sweden at the same time, this may be relevant:
Quote:
....basically trying to rebrand this ... enterprise with a new name and splitting up the company into various separate entities utilising mailing boxes etc to provide a degree of apparent respectability and legality...
http://whocallsme.com/Phone-Number.aspx/02072454429/2
Quote:
[A...] is another name for [Venere]
Yahoo
OK, that's a bold statement and we don't know that for sure. We don't know what products [A...] recommend (few clues on their websites) and there seem to be no online complaints (apart from this and this).

* surely not history repeating itself:
Quote:
[B...] were heavily involved in the selling of investments in the [I... C.... Group], a fraudulent investment scheme which collapsed with significant losses.....
Following the collapse of I... C... the Directors of B... established a new company, [Venere], a cynic may suggest to escape the bad press.
...
Many of the consultants who worked for [B...] now work for [Venere]
Offshorealert
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Old 28.03.2012, 18:24
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Re: The Local and financial advice for expats

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Aha, you see, it's not life insurance, it's life assurance you use as an investment vehicle, it's just a 'wrapper' for your funds, keep the tax man away.

It's very complicated, too complicated for me to explain, but never fear, it's perfect for you, and you can choose whatever funds you like from Generali's portfolio, and change as often as you like.

What's not to like?
Charges, Crap performance, Insuance of any kind & people who sell insurance, what is there to like?
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Old 29.03.2012, 11:01
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Re: The Local and financial advice for expats

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Mark would be so proud of what ef has become
This thread is intended to make fellow expats aware of companies like these, and encourage due diligence, in case they fall into the same trap I did when contacted by one of them at a time when I was looking for genuine financial advice.
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Old 29.03.2012, 11:15
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Re: The Local and financial advice for expats

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This thread is intended to make fellow expats aware of companies like these, and encourage due diligence, in case they fall into the same trap I did when contacted by one of them at a time when I was looking for genuine financial advice.
Thanks for your post, what trap did you fall into?
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Old 29.03.2012, 11:31
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Re: The Local and financial advice for expats

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Thanks for your post, what trap did you fall into?

I really can't tell if you're being serious on this thread??

Anyway I'll assume you are

Companies like this work on commission, lots of it, all paid by you, your first few (or more) years of premiums all go to them, and that's if they are legit, if they aren't then they are just stealing from you.

Read the links Reb77Br very kindly provided, the company folded and seems to have reappeared with all the same staff, and everyone lost there money, but it seems that doesn't matter to the local, they'll happily run editorials singing there praises just as long as they get paid, morals? responsibility? seem in short supply.

Much like these companies that will find you a loan, no charge to you, how do you think they get paid? when you can just go to the bank directly and get a loan much much cheaper.
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