UPDATE: CBC DOES HUGE STORY ON THE ADVISOR/ADVISER FIASCO THE REGULATORS IGNORE!

Searching through the web and even YouTube, it doesn’t take long for some very powerful videos to surface – none more compelling than the work of a gentleman named Larry Elford, who lives in Alberta.    His videos seem well researched and spot on for many of the difficulties the BCSC (and the other 12 provincial regulators) seem to be dealing with on a regular basis.

Government Regulators Help “Launder” Your Money…Gone!

Securities Commission Distraction

The “Douche-iary” Investment Advisor

Trust Me I am an Advisor…(And I…AM Lying…Twice)

We think you get the idea…

The System is broken and needs an overhaul.   We used several sales agents that told us they were financial planners, brokers, and/or advisors/advisers.   In our dealings with them (from 2007-2010), it was very apparent that many of them only cared about the commission being offered and not about the best interest of their clients – some of which were even family members.

We thought we would take a moment to see the current status of most of financial experts who raised capital for either (or both) of the FCC or DCF offerings.     Bear in mind, the Respondents only met approximately 12-15 (out of 250) of the investors in FCC and DCF.

You can verify the information below by visiting the Canadian Securities Administrator (“CSA”) website.    Here we go…

DUKE, James (Jim) – NOT REGISTERED WITH THE CSA  (Owner of Duke Wellington)

RICK UNRAU – NOT REGISTERED WITH THE CSA

ROD BURYLO – NOT REGISTERED WITH THE CSA 

LANG, David K – NOT REGISTERED WITH THE CSA

WING, Fredric – NOT REGISTERED WITH THE CSA (Former Partner/Founder at Strategic Brokerage Services West LP (“SBS West”), instrumental in bringing the Falls project onto the shelf at SBS in 2009 as well as an avid golfer)

CHAN, Alex – NOT REGISTERED WITH THE CSA  (Former Partner/Founder at SBS West, has CHS – Certified Health Insurance Specialist; CFP – Certified Financial Planner; CPCA – Certified Professional Consultant on Aging; EPC – Elder Planning Councilor; CFSB – Certified Financial Services Broker).

HEINRICH, Adam S – REGISTERED WITH THE CSA (Sent a very long list of questions during his due-diligence of the Falls project – very professional and detail orientated)

ANDREWS, Miriam – REGISTERED WITH THE CSA – (Introduced by SBS West Staff.   Came to Falls property and completed her own due diligence before placing funds into project.  Very Professional)

MACKAY, Robin – NOT REGISTERED WITH THE CSA – (Introduced by SBS Staff. Owner of Drake Wellington in 2010).

McARTHUR, Ian (Peter) – REGISTERED WITH THE CSA – (Introduced by SBS Staff.   Asked several questions in his review of the project – very professional.)

LAI, Loretta – REGISTERED WITH THE CSA 

TOEWS, Jeff – REGISTERED WITH THE CSA (Registered under Raintree Financial and currently calls himself the CEO and Strategic Wealth Planner at Drake Wellington.)

PAQUETTE, Susan – NOT REGISTERED WITH THE CSA 

Just looking at this very simple list – it appears (in our experience) the sales people that have been registered with the CSA were far more diligent in their preparation of putting clients money into the Respondents projects – with exceptions of course.

It would be interesting to see how they currently spell ADVISOR/ADVISER

…something to think about!!

UPDATE:   April 11, 2017   – We have come across this story from CBC today!   Kinda tells it all does it not?  (Click on the link)

http://www.cbc.ca/player/play/909827651762

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