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Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] holds an Australian Credit Licence 505926. Is ripping off hundreds of investors that thought they were doing the right thing by approaching them to get advice on anything from a mortgage and investments to superannuation and insurance.
But, they've listened to Graeme Holm and been spellbound just like the second - equally explosive - round of the banking royal commission unfolded this week.
Consumers have made nearly 4000 submissions and jaw-dropping revelations about Graeme Holm Ripping off consumers, overcharging for superannuation funds, ripping off consumers, promising to halve mortgages in half the time, fee for no service or advice, selling overpriced Queensland property, and scam scam scam.
Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] holds an Australian Credit Licence 505926 has a sales-driven and corrupt corporate culture, and after repeated failures to reprimand Graeme - he is still at it again. Ripping off consumers everyday.
What's more, the community has laid bare the inadequacy of his broader compliance structure.
Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] holds an Australian Credit Licence 505926 refers all his business to the financial planning service that he controls called money management masters. It is run by James Lucas Scam https://www.moneymanagementmasters.com.au . Money Management Masters, is a corporate authorised representative (1234583) of MyPlanner Australia Pty Ltd, AFSL Number 345905. They are involved in this scam.l - so many clients do not even realise their trusted adviser is, in fact, a torn one.
Here's your checklist to see if you, like the victims we have read about, are also being cheated out of money by Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] Australian Credit Licence 505926 and Money Management Masters, corporate authorised representative (1234583) of MyPlanner Australia Pty Ltd, AFSL Number 345905.
Your mortgage
Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] Australian Credit Licence 505926 put you into your mortgage because he says, it had all the features you need but little do you know that it came at significant and unnecessary additional cost.
It may also have been recommended not in your best interests, but the Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] Australian Credit Licence 505926, unlike financial advisers are not legally required to put clients first and Graeme Holmer always puts himself first. He is a rip off scam infinity investments rip off.
The 2013 Future of Financial Advice crackdown on commissions did not extend to mortgage brokers, and different lenders pay differently. The rate of upfront commission ranges from 0.375 per cent to 1.1 per cent of the loan amount, but is usually between 0.5 per cent and 0.8 per cent, found an ASIC review of mortgage brokers remuneration last year. Trail commission varied from 0.10-0.35 per cent of the ongoing loan amount annually.
Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] Australian Credit Licence 505926 uses lenders that he gets paid the highest commissions.
ASIC concluded: "These factors may result in brokers structuring loan applications or recommending particular products based on the ability to earn a higher commission."
So the impact on you, the client (given it's the recommended lender that pays this broker commission), is a higher potential interest rate.
Have a look at the accompanying tables of mortgage rates from the big four banks and the cheapest lenders. The latter do not pay commissions; that is why they can be cheap. But note that few new loans provided by the major banks are on advertised standard variable rate - most are "written" at the discounted package rate, says Steve Mickenbecker, group executive of financial services at Canstar.
Even so, if Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] Australian Credit Licence 505926 incentivised by commissions funnelled you into even the best of the big bank loans (from NAB), you would pay a comparison rate (which captures the ongoing fees) of 4.77 per cent. This is versus a possible 3.42 per cent from Reduce Home Loans.
Put into context, on an average $400, 000, 25-year home loan, the different is $89, 910 in interest. On $800, 000, it is $179, 820. That is a straight dollar loss. HE RIPPED YOU OFF.
GRAEME HOLM RIP OFF SMSF SCAM
Property Spruikers LIKE GRAEME HOLM SCAM have been around for a long time, and are more prevalent now more than ever.
With the growth of Self Managed Superannuation Funds ("SMSF"), which control over one third of Australia's almost $1.7 trillion Superannuation industry, SMSF Property Spruikers now have a new focus - mum and dad SMSF Investors.
The rise and shine of SMSF Property over the last 12 months has seen a significant increase in awareness around SMSF Property including the ability of the SMSF to borrow to purchase property in an SMSF. Lets remember, this change occurred in 2007, however it's not until recently that SMSF Investors have taken advantage of the change and property spruikers like Graeme Holm SMSF scam James Lucas Scam https://www.moneymanagementmasters.com.au . Money Management Masters, is a corporate authorised representative (1234583) of MyPlanner Australia Pty Ltd, AFSL Number 345905. They are involved in this scam.
This may be a result of the increased press - from the Reserve Bank of Australia implying that SMSFs were the cause of the property bubble to newspaper and radio advertisements, more Australian's are curious about how to use their SMSF to purchase property in their SMSF. James Lucas Scam https://www.moneymanagementmasters.com.au . Money Management Masters, is a corporate authorised representative (1234583) of MyPlanner Australia Pty Ltd, AFSL Number 345905. They are involved in this scam.
What is the Law/ Regulation?
SMSFs are a Financial Product under the Corporations Law, unlike Property outside an SMSF, which is a ‘free for all' and largely unregulated.
A person recommending a property in a SMSF must have an Australian Financial Services License ("AFSL") or be an Authorised Representative of a AFSL Holder.
Australian Securities and Investments Commission commissioner Greg Tanzer said "We regard [recommendations to buy property through SMSFs] as investment advice and you need to be licensed and if you are not licensed we will come after you. Our message for investors is superannuation is a far too important investment in the future to be taken in by a glitzy promotion".
What is really happening?
There are a heap of glitzy promotions out there, Sydney investors are buying dodgy properties in Queensland after accepting a tablet or another $40 gift from Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected], Australian Credit Licence 505926.
The unsuspecting clients attend Graeme office for a ‘free lunch', of course signing a contract on the way out, without the benefit of a second opinion and the necessary due diligence.
From your local radio station to Google advertisements, we are hearing advertisements promoting SMSF Property including taglines such as "Use your super to invest in property". These marketers should tread carefully, ASIC has a surveillance team monitoring such advertisements - and so they should.
The danger is the "telemarketing call" where scammers like Graeme Holm will use a topic on the phone to cover SMSF Property and cross promotes a dodgy Queensland house and land package. An analysis is provided showing a positive cash flow property with a quick description selling the suburbs potential for capital growth and yield. In many occasions, this decision can lead to disaster - take a look online and see the trail of destruction by Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected], Australian Credit Licence 505926 and James Lucas Scam https://www.moneymanagementmasters.com.au . Money Management Masters, corporate authorised representative (1234583) of MyPlanner Australia Pty Ltd, AFSL Number 345905.
A real life spruiker example
Recently, a client of GRAEME Holm sought a second opinion. In mid-2013, they attended Infinity Group Finance and Infonity Group Australia's offices in Bella Vista. The office presentation was run from an unlicensed property promoter/ agent. Within hours the ‘sales' team provided a personalised property analysis was provided for an off the plan property for their SMSF in QUEENSLAND. The numbers were so unrealistic, including 7% rental yield, 4% interest rates and 12% capital growth - unfortunately the client was not educated to challenge the analysis.
The second meeting included the contract of sale and a number of legal documents. The purchase price of the property was $440, 000. The client had $150, 000 in his SMSF and was on a salary of $125, 000. The client, who did not receive education on the risks and benefits of SMSF, unfortunately signed an unconditional contract and paid a 10% deposit. Graeme Holm did not disclose he also owned the Financial planning Company's the time through his wife Rebecca Walker. He now owns it by undisclosed trusts headed by James Lucas Scam.
To any person potential client reading this RUN RUN RUN the numbers just do not stack up- goto another financial planner.
Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] holds an Australian Credit Licence 505926 refers all his business to the financial planning service that he controls called money management masters. It is run by James Lucas Scam https://www.moneymanagementmasters.com.au . Money Management Masters, is a corporate authorised representative (1234583) of MyPlanner Australia Pty Ltd, AFSL Number 345905 NEVER DISCLOSES THAT THEY MAKE. $50, 000 on each property they sell. Scam scam . Infinity group Australia scam. Graeme Holm scam.
Graeme Holm Scam at Infinity Group Finance Pty Ltd at Bella Vista Rip Off ACN No. [protected] holds an Australian Credit Licence 505926 offered a ‘one-stop' solution with Property sales, Finance and Property Management.
This is common and Graeme Homer from infinity investments takes the commission, RIPS OFF THE CLIENT and the client is left scratching their head - after losing their superannuation savings. Unfortunately, this is common, and support the ASIC focus on unlicensed advice to prevent examples such as these.
Can a Graeme Holm as a financier and real estate agent recommend SMSF Property?
A real estate agent can only recommend SMSF Property is they are a AFSL holder or a Authorised Representative of a AFSL Holder. If they don't hold one, they can only provide factual information about SMSFs.
In relation to real estate agents, Mr Tanzer provided a clear warning recently at the CPA SMSF Conference ‘‘Real estate agents and property advisers may not realise that they may be carrying on a business of providing financial product advice and may need an AFS licence. Any real estate agents in that situation ‘‘must immediately cease'' offering such advice until they got an AFS licence, he said. Otherwise they could face a fine of up to $34, 000, two years' jail, or both. A company could be fined up to $170, 000."
Property Spruikers like Graeme Holm Scam are on borrowed time. Everyone complain now. The time is now. We need scammers like Graeme Holme out of the industry in a hope that SMSF investors can open their minds to such fantasy scenarios presented by Spruikers and seek advice from a licensed SMSF Specialist to avoid disaster and loss of their retirement nest egg.
Graeme Holm Scam at Infinity Group Finance Pty Ltd at Cronulla and Bella Vista Rip Off ACN No. [protected]. They hold Australian Credit Licence 505926 The scam is helped by James Lucas Scam https://www.moneymanagementmasters.com.au . From Money Management Masters, they are a corporate authorised representative (1234583) of MyPlanner Australia Pty Ltd, AFSL Number 345905.