Paramount Finance And Investments review: Beware, they are shonks 107

Paramount Finance and Investments actually re-financed me at a higher interest rate that what I was on.

I agree Paramount finance and Investment services are shonks, what they do by selling investment property at above the market value is increase the cost of property for the rest of us.

Paramount finance and investment services gave nearly sent us broke, we made the mistake of buying investment property with them and when we went to sell it we where told it was overvalued. Paramount finance and investment services told us "too Bad" in not so many words, I would never recommend anyone ever deals with Paramount finance and investment services.

Ive heard that paramount finance and investment services in Parramatta also will not refund people if you are not happy with the plan they sell.

My wife and I are in the process of signing up with this company, so far I have read only bad reports regarding them. Is there any positive feedback at all? Has anyone experienced positive outcome regarding Paramount Finance and Investment services.

Yes my husband and I are just going through this too, we are not buying property, only refinancing to get our mortgage down quicker, we would appreciate any positive feedback?

I think paramount is shonk, we have sign some paper works, and than they told us about trouble for refinance, now suddenly I got call and told us that we have bought property, without sign refinance paperwork. and how they are telling me, that "it not any more between us and paramount it's now between me and builder". the things is we told them long time ago we don't want to buy property, and also they are not returning our money... which we have paid for solicitor around $1500, I made biggest mistake in my life sign papers with paramount, never ever trust them...

YOU WOULD MOST LIKELY BE IN A BETTER FINANCIAL POSTION, IF YOU STOP WHINGING LIKE CHILDREN AND DONE SOMETHING ABOUT IT.

Cmon people at the end of the day look at all that interest that we are being charged by all these banks so yea so what this company is merely asking for us to invest in ourselves what should we do expect a company to help us and not at least pay for it.

grow up!

i was visited by their director of marketing Warren Bronson. This guy is a wanker and he is an absolute crook. he looks like a criminal and cannot be trusted, he will say anything to get the sale. he was rude and inconsiderate towards my feelings and personal opinions. beware of this person. he is a liar.

they claimed to get the loan paid off in maximum ten years without extra payment. can't explain that, anyone who has done this before, please help explain.
Regards,

Yep ... here is how it works--There is a script and a plan they follow relentlessly ..Firstly .they call me cold and tell me I have gone into their draw for a free holiday, no strings attached...(?This is just the first bit of grooming for the next call.. Normally I just hang up on these types but I just went along with this one because they didn't seem to be asking me for anything...hmmm)
...then a few days later, "hey how are you?...yes just confirming you are still in the lottery and as we said we would call you back...(did they?, cant remember that)... "Do you have a mortgage...oh you do, hey...we can come to you and show you how you can save thousands on your mortgage... (well why not I thought, what is there to lose?)
And so a few phone calls later- checking up on me I think...(It's all downhill from here), they send someone around to the house, and they basically won't leave till I sign over $400 for a financial assesement plan. Basically they claim they are in the business of pooling loans and getting cheap interest rates from major lenders...And they can do that because thats what they do!"..."they love helping people by saving them tens of thousands" hmmmm..
Then a few days later I get a call, "hey GREAT NEWS we got a great deal and it will save you $400, 000 dollars on your 30 year loan. You will pay off your $300, 000 mortgage in 7 years, etc ...come down to Parramatta and sign the papers...( I told them I don't have the time to race off to Parramatta, and sign what papers?)

So far they wont mail out the report I was expectng-if it exists, they would not come back with it and insisted that I go to Parramatta which is way out from where I live!
So my 'assesment' so far is that these operators are very manipulative. the main part of there method is to groom people through various stages or levels of involvement. I have seen this 'attitude' typically in people in pyramid schemes, very enthusiastic and very pushy. They caught me out at a time when I was exhausted with work doing 12 and 14 hr shifts for the last 2 months.
The moral is... if you are tired ( and even if your not) don't sign anything!

Again I have to read this rubbish! The reality is most us are on a mortgage or renting and in essence we are always going to have some form of dept in place.
Looks to me we have an organization trying to help us eliminate this dept altogether yea so what we have to sign a little bit of paperwork and pay an application fee the truth is we still have to sign up for a loan with the banks and plus all the interest owed and are expected to paying extra and really going no where at the end of the I would prefer to pay top dollar and have the job done properly for me then to be expected a free bee and yes there are fees so! if it is a win for us why should begrudge a win for this company.
I can finally say I have the peace of mind for the first tine in years since I have been on a mortgage and besides I am receiving a huge return on investment through the ATO every year I receive my dollars back into my pay packet so thank you Paramount...

Hello everyone,
I have recently referred a good friend of mine to Paramount he his a young gentleman of 24 years of age now he was new to how mortgage reduction and Tax Minimisation and how it all worked. His very first mortgage and having to worry about all this interest owing for the next 28 years of his life he now has a Wealth Creation plan in place a new direction where he will now take ownership of his home within the next 4 and a half years. Yes this is a fact and a reality! See this is about having control of your future ''not the lenders" they obviously have an invested interest in having a long term relationship with us because we as customers are expected to pay an annual interest fee I have never had a lender show me a quicker way.
I have been treated with the utmost respect and provided nothing less than the best professional service all my outstanding bills are out of the way a lot of help with budgeting and soon will have a second home I am happy to say I had an expert on my behalf help me through out the process and show me how it all worked I feel for the first time in my life I am finally in control of my finances and above all I wont be worrying about my Superannuation falling any time soon.
Thank you...

top reference site

Run by a Cowboy!

I have a feeling that the positive comments are from Warren himself. I was also almost sucked in and did pay the $400. In the meeting at Parramatta warren used phrases like" thats a fact" & "see this is about having control over your finances", as is stated above. He tried everything to get us to sign and got rather pushy and rude inferring it was goona be his way or else. His girlfriend actually conned us into paying the $400 by saying that if we werent happy she would personally give us the money back. Ha! Yeah right, we treid and Warren actually called us liars and threatened us! What a crook these people are. And I have to agree with the previous comment- they do all look like criminals! Something not right!
Run, run, RUN!

I was visited by Warren Bronson who claimed himself a General Manager. He will be nice but when you refuse to pay $400 he will get very rude and pushy. He just reminded me of a desperated timeshare salesman rather than a GM.

I have met warren (big fat necked ugly looking dropkick), was really pushy and rude, could not answer any direct questions, came across like a complete shonk.

Paramount Finance and Investment Services harrassed me for years until I agreed to an appointment which was supposed to be a financial review but they just wanted to sell me an over priced property in Qld.

We bought a plan from Paramount Finance and Investment Serices but after 2 months had still not recieved it, after calling several times and been given several different excuses we have given up and are seeking a refund.

Warren Bronson, writing positive comments here is not helping you. We all know you are a crook!

I was about to sign up with these people, thank you for the "heads up".

I have had several unsolicited calls from Paramount finance and Investment Services and have always asked that they remove me from the list they use and desist from contacting me ever again, without fail they call em again within a month. I would never deal with them for this sole factor, it really is not the way to run a business.

They just called me, i was seraching to see if they are legit. You are correct in saying they are aggressive, they tried booking me in to a free financial consultation and when I asked if they are accredited the person didnt even know, so I asked if it was a qualified financial planner they would be sending, the answer says it all really..."None of our consultants are qualified".

Wow, I just found this from one of their consultants, looks like they rip off the staff there as well...

I was working up until last week for the past 14 weeks with Paramount Finance and Investment Services at Philip street, Parramatta, as a Corporate Associate, and getting paid $40 per appointment seen and $396 per FIA (Financial Investment Analysis) signed up and then they went into the office for a 2nd appointment with a Senior to sign for Re-finance and/or an Investment property. For that sign up I was supposed to get $2, 000.00.
No GST or Super was paid by the Company. I have not been paid for any of my re-finance/Investment sign ups either. They charge the client $7, 995.00 to process the documents.
The Company sets up the Invoice for us to fill out for payment.

Please advise my legal standing on GST, Super and Commission.

Thanks
Denice Wagner

I was employed by paramount finance and i had only lasted a fortnight because i saw how this company operates and it is disgraceful!. They will cold call you and convince you to try and make a "Free" appointment with one of their "pro-fess-ionals" to come to your house and talk about their financial plan that they "think" they will offer you. They are trained not to tell you much but only enough so you can ask for more (stated by the direct of corporate marketing 'Warren Bronson" : "Say nothing but take everything" AKA your money, even if you do not qualify). Then you pay $400 to go and speak with consultants who will place a couple of drawings in front of you and they will try and convince you to pay 8K which you think goes to your investment but no, it pays the CEO and the dodgy people who sold you that drawing of a "plan". If you don't sign up, a FAT MAORI boy (Warren Bronson) will then come in and talk about rainbows and thunderstorms and some other mystical information like his A+ Degree (FYI there is no such thing but he brags on about it) or his Son who has nothing to do with the company but he has nothing else to say because he is an idiot.

Moral of this discussion, DO NOT let someone come to your house and sell you drawings. Your children might as well draw you houses, It would be free and colourful

My next door neighbour used them and has regretted it ever since. Avoid them like you would a short double chinned bald drug addicted sex molester in Thailand.

They did exact things to me, and now they are trying to ask me to pay for the $7995. They were trying to sell me a QLD prosperity with overstated value by $40k, I rejected it. Then they tried to refinance my mortgage saying they can save my interest by $400k, but I found they refinanced my mortgage with an extra $25k loan with higher interest rate (49 points higher), if I take it, I will be $25k poorer immediately and have to pay higher interest in the future, obviously I refused it too, then they treated me. This is a scam, we should report it to ACCC (www.accc.gov.au) and to www.scamwatch.gov.au

Here is a great place to send a complaint, lets get these scammers at Paramount Finance and Investments shutdown once and for all! https://www.edge.asic.gov.au/008/complaintV006?get/complainant/t=c6561f569d4afa4a793a0f9a0b79b405c2be9c9

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More links:

http://www.productreview.com.au/p/paramount-finance-investment-services.html

Unprofessional, would never deal with them again.
1
- Terrible
Posted on Nov 29, 2011
Vince_Peroli
Reviews: 1
Pros: Nothing to like, they are liars
Cons: Unproffesional, unreliable, liars, scammers
Overall: Paid for a financial review at the cost of $396.00 and have never recieved anything at all. I have complained to them numerous times and they have said in not so many words..."bad luck"
Paramount Finance & Investment Services is not recommended by Vince_Peroli

Terrible, avoid at all cost!
1
- Terrible
Posted on Nov 10, 2011
Todd_Davis
Reviews: 1
Cons: Aggressive salespeople, they mislead you into thinking it is a financial review
Overall: They cold call and offer a "free" financial review but will then try and hard sell you investment property in QLD. The salespeople we spoke with were very rude and aggressive.
Paramount Finance & Investment Services is not recommended by Todd_Davis

To whom it may concern,

I am writing to thank you for sending me a bouncing refund cheque for a financial plan that was sold but never received . By my calculations, three nanoseconds must have elapsed between his depositing the check and the arrival in my account of the funds needed to honor it.

My thankfulness springs from the manner in which this incident has caused me to rethink my errant financial ways. I noticed that whereas I personally attend to your telephone calls of which there have been many, and when I try to contact you for a refund of my plan, I am confronted by the impersonal, overcharging, pre-recorded, faceless entity which Paramount Finance and Investments has recently become. From now on, I, like you, choose only to deal with a flesh-and-blood person.

Please provide me with the details of the owner so I may contact them directly to vent my spleen.

Your Humble Client,

Carrie

they have tried to call me at least 20 times in the last two years asking if i want a free review, I have declined always and told them never to call again. I have just registered on the do not call list so when they call me again I will report them

Thanks all for the comments, I wish I had of read them before I had one of their people come around and tell me I can pay off my morgage quicker without paying any extra. When I asked how I was told that the $400 report would tell me how. Now they want me to sent them my home loan statements, credit card statements, 3 payslips and my group certificate. I am worried about giving this company these details.
Should i send these details so they can make up the financial plan, or should I just kiss my money good bye. I have no intention in buying property from them, but would not mind a plan as i have paid for it.
Any comments would be great, thanks

@ jesse99999

look... you can call the office and tell them you no longer interested. If they refuse to refund your money, Take them to ASIC or Fair Trading. Usually they will refund you if you threaten to report them as they have something to hide. You should not be paying them anything. The company is paid up front commissions from the banks and trail commisions too which is based on how much your loan is. Warren Bronson use to tell us that they also get $40K comms on the property they sell to you thas why you are getting screwed if you pay $400 bucks then another $8000 for the plan.

I had a phone call this week from someone called OZEAGLE who was rude and pushy. They wanted an appointment for a financial plan to be done. I made the appointment but wasn't home where they came see me. The next day I has a phone call from a lady called Angela who said she was Paramount Finance and why did I miss my appointment. She was rude and nasty. I wont deal with them but it sounds like they are changing to another name - maybe to many complaints? Has anyone else heard of OZEGAL?

Same here. I had a lady come last night - she convinced us to part with the $396, and it was only at the end when she was leaving that she said that there was no refund. i phoned my bank, and they said that while I could not reverse the amount, that the bank could investigate whether it was fraudulent

AUSEAGLE FINANCIAL SOLUTIONS PTY LTD - same company... same ###!

AUSEAGLE FINANCIAL SOLUTIONS PTY LTD (PROPERTYSOLUTIONS4U PTY LTD) ABN: [protected]
PARAMOUNT FINANCE & INVESTMENT SERVICES ABN: [protected]
PARAMOUNT FINANCIAL SERVICES PTY LTD ABN: [protected]
PARAMOUNT LENDING SERVICES PTY. LTD. ABN: [protected]

Beware, if you receive a cold call from the above companies offering a free financial consultation. DON’T DO IT! They will tell you that they can reduce your mortgage in half the time and sell you a plan. They will charge you $396 for the service and present you a plan that tells you to invest in properties in Queensland.

The plan is prepared on an Excel spreadsheet and it is a generic plan. They will tell you that it is prepared for your individual situation but this is not so. On this plan they will advise you that you should refinance your mortgage into:
1. A Special Finance Facility (It’s a Line of Credit) of $30K
2. A Variable Rate Loan to the value of your current home loan and other loans
3. Another Variable Rate Loan of an amount that will finance part of the purchase on a new property in Queensland
4. Another Variable Rate Loan for the construction or purchase of a new property in Queensland

If you are one of the lucky ones that qualify for a property, they will try to sell you an investment in Queensland and it will cost you on top of the purchase price $7997 for their service. If you are only refinancing, this amount will also be charged.

Note that for every property that they sell, they get up to $50K in commission from the builder - something they do not tell you. This amount comes from the purchase so you the customers are actually paying for it. This is the main reason that the valuations of the properties they sell always comes in lower than the purchase price. If you also allow them to organize the finance for the whole thing, they also receive up front commissions from the banks of up to 1% of your total loan as well as up to 0.25% of your total loan in trail commissions.

So you see, you the customers should not be paying anything, the company make enough money on their commission not to charge you $396 and $7997.

If you are unhappy with the plan, they will NOT refund you the money. If by chance you do not want to proceed with the purchase, they will try to charge part or all of the $7997 fee. There was this time where one of their clients was diagnosed of terminal cancer and wanted not to proceed. So they charged him (a dying man) $4000.

If you do happen to proceed, please check the contracts properly. They tend to get you to sign blank contracts and application forms during the meeting. Ask to take the contracts with you after the meeting and obtain INDEPENDENT LEGAL ADVICE! before signing.

It would be prudent for you to do your research as well. Do not rely on the research paper they give you on the plan. Some of the information on it is over 3 years old - and it hasn't been updated for a while.