My single biggest regret of trying to build wealth is that I ever came across Fat Prophets. They are a disgraceful bunch of charlatans and following their advice has lost me tens of thousands of dollars.
1) Their listed funds have lost money and severely underperformed the market (FPC, FPP)
2) Following their share picks has been disastrous for my portfolio (TLS, MEA, QBE, BOQ, GXL)
3) Their signup fee is expensive, then they'll hassle you continually, trying to make you sign up to more expensive products.
Hi. I have been offered renewal of 5 year membership of Fat Propehts's whole suit of newsletters and recommendations across the globe for total price of USD400 (USD80 per year).
Do you think it is good price, anybody else found a better deal?
I have been prompted to make this review after reading some of the negative ones about Fat Prophets, which I don't recognise. I have been using Fat Prophets for about three years and am very satisfied. I had been trading on my own account, fairy succesfully for many years and although I have been relatively succesful I decided to pay for financial advice to tidy my portfolio up and get some expert input. About 60% of my shares were already in the Fat Prophets portfolio, but after a discussion they supplied me with a list of shares in a balanced portfolio and the percentage I should aim at holding, which included available cash. I receive regular calls from my account manager and over the years have gradually switched my holdings to their recomendations. I have mainly concentrated on UK shares, with a few European shares, but also have holdings in Baillie Gifford Japan Trust and JP Morgan Indian Investment Trust, which are well up on the original investment. I have always found Fat Prophets easy to deal with and helpful.
Fat Profits have benchmarked their performance against the FTSE 350; I think it worth noting that they have chosen the index price rather than the total return of the FTSE 350 T, i.e. they have excluded the annual dividends, historically c3% per annum.
This is either a huge oversight or an attempt to deceive prospective customers!
Was persuaded by a pushy sales person to join their Platinum service in 2010. Now 30,000 out of pocket due to the fact that i was exclusively put into miners at the hight of the commodities rise with no advice to diversifyuntil it was too late. Allocated acc. manager was impossible at times to get on phone or email with excuse after excuse about loss of numbers or email addresses. Would not recomend their services to anyone.
These guys get very nasty when you try to leave. Even a written cancellation falls on deaf ears.
Joined Fat Profits in mid July 2014, requested refund and cancellation 3 weeks later. Could not log on, (That was my fault of course) was promised US reports but then they said you need to pay extra for that even though I had written confirmation that the US equities were included.
Still trying to get my money back. Problem is they do not have any qualms about taking your money and forgetting you exist. Its now up to the courts to determine. STAY WELL CLEAR
Recently purchased a few stocks from there reports and the stocks have performed quite well, The London Stock Exchange, Wynns Casino, as well as Ryanair and Ran Group.
There International coverage is typically good as i find more opportunites through the Global reports which includes the USA and Asian Markets. Picked up Walt Disney as well from the US report
I was glad i took the global package but i have also done well with some UK listed companies.
find the service help and informative as i don;t have alot of time to do my own research, the daily email service/note that gets sent is also quite helpful.
i have used other providers in the past and still do, but find this site and research good.
Building a database of 'users' for their own use in my opinion. Tried their 30 day trial process and I am now engaged with the financial ombudsman trying to get a refund. 17 contacts with Fat Prophets over an 11 week period and excuse after excuse after excuse. They certainly do not behave with financial integritry, so I would find it very hard to take their financial advice.
Recently joined Fat Prophets and they seem to be postive on the Japanese stock market. Quite interesting as i have mainly focused on UK listed Equities.
Ballie Gifford Japan Trust, seems like an interesting idea and somehting outside the box, will see how this pans out and will add to my portfolio.
As a relatively new member i find the daily email i receive each day to be informative and timely, have not seen this with other services i currently use.
Part of my membership was a trial of their new Global Funds Report which covered Balle Gifford Japan Trust, which is also covering ETF's have not seen another service like this around and i will be following this one closely.