Aussie Rob - Lifestyle Trader in BIG Trouble?

Hello

Everyone, anyone had any contact with Aussie Rob and Lifestyle trader they owe me money and are not answering calls.

I have heard they are in some real financial difficulty laying off staff in Australia and everywhere else.

Anyone else heard?>

Always be wary of buying anything that has 'lifestyle' contained in its marketing.

or when it comes down to it, "Aussie".

Only you could post that and get away with it.

why do they owe you money ?

I'm the CEO of Lifestyle Asset Management, the parent company of Lifestyle Trader. We are in a great financial position. I'm not sure how we owe you, but if you call our 1800# and ask to talk to me, I will personally follow-up your concern. Murray Priestley

The Australian Securities and Investment Commissionhas recently issued this statement regarding Lifestyle Trader.

Australian Securities and Investments Commission - 11-161AD ASIC accepts ‘Aussie Rob’ EU

11-161AD ASIC accepts ‘Aussie Rob’ enforceable undertaking

Tuesday 9 August 2011


ASIC has accepted an enforceable undertaking (EU) from a Queensland-based options trader and his associated companies following an investigation into misleading and deceptive conduct in the marketing of share trading software.

Between August 2008 and July 2010 Rob Wilson, also known as ‘Aussie Rob’, and Gold Coast-based companies Lifestyle Investor Services Pty Ltd and Lifestyle Trader Pty Ltd marketed and sold options trading software known as ‘Lifestyle Options – Share Rental’ and offered steps on how to use the product.

ASIC found that statements made by Mr Wilson, who is from Hervey Bay, and the two companies in marketing the software were misleading and deceptive. These statements included:

“Writing covered calls is the same as ‘Share Rental’ or renting out real estate”;
“Options trading is easy”; and
“Returns of 5-10 per cent per month and 60-120 per cent per year can consistently be achieved through use of Lifestyle Options – Share Rental”

Mr Wilson’s and the two companies’ EU includes an agreement to permanently refrain from using the above phrases in connection with options trading.

Lifestyle Investor Services Pty Ltd and Lifestyle Trader Pty Ltd have also agreed to provide a refund to people who bought the product after one or more of the misleading and deceptive statements were made to them.

Under the EU, the companies will write to the relevant clients and provide them with information to help them claim any refund that they may be entitled to.

The EU also requires Lifestyle Investor Services Pty Ltd , for a period of 12 months, to ensure all of its advertising material or that of its authorised representatives - in connection with any options trading product - which is marketed or distributed, is assessed by a lawyer for compliance with applicable laws prior to publication.

Lifestyle Investor Services Pty Ltd’s compliance with this requirement will be reviewed by an independent expert who will regularly report to ASIC.

View the enforceable undertaking

Yeh...also if it's based on the Gold Coast. The home of drug dealers, juiced up bodybuilders and plastic surgeons.