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That scenario will play out over the next 12 months I imagine. Lots more to be written about Lifestyle Trader, the people who ran it, and ICS / Alpha who have taken it on. The misleading advertising will be the least of their concerns I'm tipping.....

Bill isn't licensed and hadn't been for months according to him. He shouldn't be selling DVD's, teaching, mentoring, or assisting with "mechanics". The definition of financial product advice is so broad that even his posts here could be construed as unlicensed advice. Has he influenced someone to take a position in a financial instrument? You can argue about the success of his intentions, but the intention is there non the less.

He's also been a bit mischievious in answering questions about his AR status. If he was to be straight down the line he would have said he isn't licensed at all. Some of his statements have been quiet ambiguous, almost as if to leave the door open to supporting his existing clients, or making the odd DVD sale.

"I'm listed as general"

"I can't give personal advice without a questionnaire"

"I am licensed when I speak"

Bill isn't licensed that's the bottom line. As a consumer you don't have any of the protection or mechanisms in place to assist you should you have a complaint. You'll be stuck with the Office of Fair Trading or worse still having to take your own civil action.

<blockquote data-quote="TeleSonic" data-source="post: 687477" data-attributes="member: 18144">That scenario will play out over the next 12 months I imagine. Lots more to be written about Lifestyle Trader, the people who ran it, and ICS / Alpha who have taken it on. The misleading advertising will be the least of their concerns I&#039;m tipping.....Bill isn&#039;t licensed and hadn&#039;t been for months according to him. He shouldn&#039;t be selling DVD&#039;s, teaching, mentoring, or assisting with &quot;mechanics&quot;. The definition of financial product advice is so broad that even his posts here could be construed as unlicensed advice. Has he influenced someone to take a position in a financial instrument? You can argue about the success of his intentions, but the intention is there non the less. He&#039;s also been a bit mischievious in answering questions about his AR status. If he was to be straight down the line he would have said he isn&#039;t licensed at all. Some of his statements have been quiet ambiguous, almost as if to leave the door open to supporting his existing clients, or making the odd DVD sale. &quot;I&#039;m listed as general&quot;&quot;I can&#039;t give personal advice without a questionnaire&quot;&quot;I am licensed when I speak&quot;Bill isn&#039;t licensed that&#039;s the bottom line. As a consumer you don&#039;t have any of the protection or mechanisms in place to assist you should you have a complaint. You&#039;ll be stuck with the Office of Fair Trading or worse still having to take your own civil action.</blockquote>

[QUOTE="TeleSonic, post: 687477, member: 18144"] That scenario will play out over the next 12 months I imagine. Lots more to be written about Lifestyle Trader, the people who ran it, and ICS / Alpha who have taken it on. The misleading advertising will be the least of their concerns I'm tipping..... Bill isn't licensed and hadn't been for months according to him. He shouldn't be selling DVD's, teaching, mentoring, or assisting with "mechanics". The definition of financial product advice is so broad that even his posts here could be construed as unlicensed advice. Has he influenced someone to take a position in a financial instrument? You can argue about the success of his intentions, but the intention is there non the less. He's also been a bit mischievious in answering questions about his AR status. If he was to be straight down the line he would have said he isn't licensed at all. Some of his statements have been quiet ambiguous, almost as if to leave the door open to supporting his existing clients, or making the odd DVD sale. [I] "I'm listed as general" "I can't give personal advice without a questionnaire" "I am licensed when I speak"[/I] Bill isn't licensed that's the bottom line. As a consumer you don't have any of the protection or mechanisms in place to assist you should you have a complaint. You'll be stuck with the Office of Fair Trading or worse still having to take your own civil action. [/QUOTE]

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