Storm Financial Group

[bunyip]

bunyip, I believe Frank has the right to push any agenda he feels fit in this forum, just as anybody else has the right to counter or agree. I am pleased that there is one ex-client who is willing to be publicly identified and engage.

I hope Frank will respond one day as to why he is taking the above tack.

Maybe the courts will decide if this is an honest approach.

Solly

One further point....I’m not questioning Frank’s honesty in telling us his version of how he was done over by Storm and the banks. But I certainly question his honesty in claiming that he bears no responsibility for his actions.

Fair enough that Frank wants others to be held accountable for their actions. But Frank also needs to be accountable for his own actions.

 

[Solly]

Solly

One further point....I’m not questioning Frank’s honesty in telling us his version of how he was done over by Storm and the banks. But I certainly question his honesty in claiming that he bears no responsibility for his actions.

Fair enough that Frank wants others to be held accountable for their actions. But Frank also needs to be accountable for his own actions.

Ok bunyip, I now understand your stance, thanks for the clarification.

Things really can become rather intense on this forum at times.

Sometimes I overlook that this forum holds no enforceable authority, nobody is bound to reply or engage in any manner whatsoever.

But it's good people do and I now possess a much deeper understanding of the many complex inputs to this Storm saga.

And a big thanks to Joe for maintaining a platform for us all to be heard.

S

 

[bunyip]

Yet many of them have never run a business or done anything constructive in their lives to help others.

And how the bloody hell would you know if we’ve ever run businesses or done anything to help other people???!!!

Unlike you, Frank, we feel no need to big note ourselves about our careers, our lives, or our personal achievements. You clearly have an ego the size of Ayre’s Rock, so vocal have you been about your business achievements and the positions you’ve held and the qualifications you hold.

Tell me Frank – did you spend days in the sultry conditions last January, walking up to 15 km daily through knee-deep mud to search for bodies after the flash flooding in southern QLD?
I did.
Did you risk you life to pull people off a rooftop that was surrounded by water?
I did.
Did you spend days feeding hundreds of people and counseling them at a flood refuge center?
I did.
Did you spend days in baking heat helping the bloke down the road dig his machinery out of the mud left by the creek that came over his property?
I did.

So don’t you come on here with your holier than thou bull**** about how we’ve never done anything constructive in our lives to help others!

As for never having run a business.....more unsubstantiated bull**** from the master himself!

Wake up to yourself Frank – the longer you spend on this forum, the more foolish you make yourself look!

 

[Julia]

it is not my intention on this forum to belittle the financial advisory sector. I must admit that at times I do have the occasional "dummy spit" when I think about what has happened to us. However, I also know it would be foolish on my part to condemn all financial advisers for the wrongs of a few. Good financial advisers have a place in the scheme of things and they are beneficial to society.

Not your intention to belittle the financial advisory sector? That's what you have done in post after post.

I hold no great brief for the financial services sector but take exception to your making wild accusations that generalise the entire industry. When, in the interests of fairness, I pointed this out, you refused to concede that you were being unreasonable, so I'm glad to see that you've now above reluctantly acknowledged this.

Julia has said that she doesn’t think there is a need for more regulations. Obviously, she is at odds with this Government

Good Lord, that's not saying much! This pathetic government is intent on creating a nanny state which will soon remove any sense of personal responsibility, thus eventually breeding a nation of compliant idiots who depend on rules and regulations for every decision.

For my part, I do not have the time or inclination to go over old ground.

Phew! That's a relief.

Therefore I will not be answering any further posts that do not have something constructive to say.

Translation: "When all the discrepancies in my statements are pointed out to me, I simply have no answer."

But no matter what new rules and regulations come into play, there will always be a rogue firm or two out there trying to make money off other people's misfortune. It has been going on for ever and will continue to.

Unfortunately, no matter what changes the industry undertakes in the future, it still won't protect people from themselves, because that is at the heart of all of this...

Exactly. Just as an example, the various Nigerian scams are now widely known. Police repeatedly come on TV and warn the population about this. Yet, millions of dollars still get sent in response to these unsolicited emails telling people they have become eligible for a payout of millions.

Spare us the high moral ground Frank. You do nothing but contradict yourself with your long-winded ramblings.

+1.

And how the bloody hell would you know if we’ve ever run businesses or done anything to help other people???!!!

+1. Another rude and arrogant assumption.

Frank, I don't believe anyone here has any interest in pulling you to pieces. But when you continually make conflicting statements, you have to expect that someone will point this out.

You rightly suggest this forum is a place of learning. I agree. I, for one, have learned a great deal from many of the people here.
But, in the interests of new members, people perhaps new to investing, we'd be doing them a disservice by allowing your more unreasonable statements to go unchallenged.

A while ago DocK made the point that she didn't intend to repeat her account of her experience with Storm because she needed to move on. That's a sign of someone who has understood what went wrong for her, fixed what she could, and got on with the rest of her life. Perhaps consider, Frank, that your own health and wellbeing might be advantaged in following her example.

I wish you well.

 

[bunyip]

Hi Solly,



Every time I have answered questions thrown at me on this forum I have tried to answer in an honest way and yet some people are still not satisfied. They never will

I distinctly recall a number of times when you ignored a question because, presumably, you found it too confronting.

Here's one that comes to mind...
'Frank, in the unlikely event of a court ruling that the banks must pay 100% of your losses, will you accept the payment?'

You ignored that question when I asked it weeks ago, so I'm asking it again now. Not that I really expect any answer - my guess is that you'll ignore it this time as well.

 

[Garpal Gumnut]

GG

Looks like the Melton auction is now, Sat 19-Nov-11 11:00AM.

Will you be taking Byrnsie to the Ross Island for a drink afterwards ?

S

The Gumnut clan will be parking Audis, selling and rescuing handbags from overheated cars and otherwise contributing to the display of wealth unbridled, at the sale of Manny's pile on Melton Tce. this Saturday.

The Cassimatis Mansion is the result of taste, taste done ultimate, on the back of a bull market, subscribed to by the unsophisticated victims of Storm.

Byrnsie is upbeat, as he would be.

It will have to be seen to be believed.

Come one, come all, mansion going cheap.

gg

 

[bunyip]

The Gumnut clan will be parking Audis, selling and rescuing handbags from overheated cars and otherwise contributing to the display of wealth unbridled, at the sale of Manny's pile on Melton Tce. this Saturday.

The Cassimatis Mansion is the result of taste, taste done ultimate, on the back of a bull market, subscribed to by the unsophisticated victims of Storm.

Byrnsie is upbeat, as he would be.

It will have to be seen to be believed.

Come one, come all, mansion going cheap.

gg

Where will Manny live next, I wonder.

Could there be any truth in the rumour that he's been talking to Pixie Scase to get the rundown on Majorca?

 

[Garpal Gumnut]

The Gumnut clan will be parking Audis, selling and rescuing handbags from overheated cars and otherwise contributing to the display of wealth unbridled, at the sale of Manny's pile on Melton Tce. this Saturday.

The Cassimatis Mansion is the result of taste, taste done ultimate, on the back of a bull market, subscribed to by the unsophisticated victims of Storm.

Byrnsie is upbeat, as he would be.

It will have to be seen to be believed.

Come one, come all, mansion going cheap.

gg

Where will Manny live next, I wonder.

Could there be any truth in the rumour that he's been talking to Pixie Scase to get the rundown on Majorca?

Darwin has been mentioned.

The Gumnut Makeover and Poise Clinic Inc. has not been approached, but should Manny care to contact, it and it's entities would be happy to assist.

gg

 

[Solly]

Storm Financial directors' mansion up for auction

Real estate agent Garry Byrnes says the home is worth millions of dollars.

"It's certainly stated as a luxury property because of the obvious size of it and the opulence of some of the fittings and so forth," he said.

He says he is expecting a big turn-out, even if it is not registered buyers."

More by Josh Bavas @ abc.net.au

 

[Solly]

The Gumnut clan will be parking Audis, selling and rescuing handbags from overheated cars and otherwise contributing to the display of wealth unbridled, at the sale of Manny's pile on Melton Tce. this Saturday.

The Cassimatis Mansion is the result of taste, taste done ultimate, on the back of a bull market, subscribed to by the unsophisticated victims of Storm.

Byrnsie is upbeat, as he would be.

It will have to be seen to be believed.

Come one, come all, mansion going cheap.

gg

GG

Why do I have a sneaking suspicion that you will really be there?

I hope you snap some pics with your g-Phone from the scene and upload them for us all to peruse.

S

 

[Garpal Gumnut]

GG

Why do I have a sneaking suspicion that you will really be there?

I hope you snap some pics with your g-Phone from the scene and upload them for us all to peruse.

S

Unfortunately a mate has started a Church on the Gold Coast and I need to steer the Bentley from here to there by hallelujah hour on Sunday. He has asked me to look at the books.

He is having major problems with a rat in the ranks, money disappearing, sex, a pregnancy, very ungodly behaviour, and there is also a very important rich wedding in which the Bentley stars in the afternoon.

So I will be saying goodbye to Townsville at Cluden at about midnight tonight, stopping only for sustenance at a servo, and in no time at all will be whispering matins on the coast. I plan to cross Pine River at about 8pm and the Nerang shortly after.

Word about is that there were two interested buyers for Casa Cassimatis, but now there is only one, something to do with Kuwait buggered the other one. The local bookie says $1.4m. It seems such a steal.

gg

 

[Glen48]

God bless you my son for your good work for such a noble crusade, a trip like that will take 12 hrs or more my God be with you and good luck with your forensic accountancy work, maybe you could have a quick chat to Mammy just to see if there are any loop holes he may know but you are not aware of and have look over his book cooking instruments .
My mate Peter is there as well after a stint in some government funded housing scheme all us 99% can only look back in awe and wonder why were are not among they chose few but then like any good battle plan it all comes apart once the first bullet is fired, so best of luck.
By the way the blonde in Cavel Ave near Believe it of get F&^K attraction is actually more well endowed than any man so be warned.

 

[Garpal Gumnut]

God bless you my son for your good work for such a noble crusade, a trip like that will take 12 hrs or more my God be with you and good luck with your forensic accountancy work, maybe you could have a quick chat to Mammy just to see if there are any loop holes he may know but you are not aware of and have look over his book cooking instruments .
My mate Peter is there as well after a stint in some government funded housing scheme all us 99% can only look back in awe and wonder why were are not among they chose few but then like any good battle plan it all comes apart once the first bullet is fired, so best of luck.
By the way the blonde in Cavel Ave near Believe it of get F&^K attraction is actually more well endowed than any man so be warned.

Thanks g48

Your piece be with you in the city tonight.

gg

 

[Solly]

Unfortunately a mate has started a Church on the Gold Coast and I need to steer the Bentley from here to there by hallelujah hour on Sunday. He has asked me to look at the books.

He is having major problems with a rat in the ranks, money disappearing, sex, a pregnancy, very ungodly behaviour, and there is also a very important rich wedding in which the Bentley stars in the afternoon.

So I will be saying goodbye to Townsville at Cluden at about midnight tonight, stopping only for sustenance at a servo, and in no time at all will be whispering matins on the coast. I plan to cross Pine River at about 8pm and the Nerang shortly after.

Word about is that there were two interested buyers for Casa Cassimatis, but now there is only one, something to do with Kuwait buggered the other one. The local bookie says $1.4m. It seems such a steal.

gg

GG

It sounds like you have got a lot on your plate at the moment. Had a mate who had similar probs trying to sort out an issue with a Mystic Believers Centre down this way. It was back in the days when polaroids played a big part in the proof of indiscretions. It did end in tears, a related visit to causality and a liberal topical application of Betadine to the affected part.

$1.4m, that does seem like a steal. I'm sending a tweet to Jenman to make sure a bid so low is ethical.

Have a safe trip, keep an eye out for Traffic Branch around Coomera, those Highway Patrol Commodore SSs have a bit of a habit of appearing out of the ether when least expected.

S

 

[Solly]

"Auctioneers expect a crowded Storm sale

Camera crews from the Seven and Nine networks will capture the event on television and real estate agents believe it could attract as many as 200 people - they briefly toyed with the idea of hiring security guards."

More by Bridget Carter @ www.theaustralian.com.au

 

[Solly]

"Storm Financial founders Emmanuael and Julie Cassimatis's mansion passed in at auction

THE former Townsville home of Storm Financial founders Emmanuel and Julie Cassimatis has been passed in at auction at $1.35 million."

More from Samantha Healy @ www.couriermail.com.au

 

[Harleyquin]

I haven't had computer access since my last post and have only had a short read of some of the posts since however Frank I back up your claims that this most definitely feels very much as though we've been raped and anyone who takes offence at this remark certainly has no idea how we feel or they wouldn't feel so defensive.

I have never been physically raped but I have worked with someone who has and helped her work through it, and I can tell you something for nothing my emotions over this storm case are very much on a par with the way she is feeling even to this day let me tell you.

Any claims by a rape victim that this situation has no similarity is very very much mistaken. You have no idea and never will know just how destruction this experience has been. I take offense most strongly that we, the victims are to blame and need to take responsibility and I know that my reasoning is sound on this issue and don't need to repeat myself.

If this is how a person seeking financial advice is treated, if this is how financial planners are 'allowed' to operate and get away with it, if this is how the Australian banking system is allowed to mistreat their clients then all I can say is the whole industry needs dismantleing, it's disgusting.

Irrespective of what 'percentage' of blame one can level at the banking industry, the fact remains that they have a case to answer. The criminal put up the idea and his partner gave him the means to allow the crime to occur, I believe it's sometimes called 'aiding and abeting'

To all storm clients out there don't believe that you are in the wrong for seeking and accepting financial advice from these experts, you have been well and truly raped by the financial advisor and his financial backers and anyone who thinks otherwise is an outsider in this fight that we have on our hands for justice. They are the ones who have no idea and their continued onslaught of storms victims is the most disgusting thing that I've ever had the misfortune to read in my life.

 

[bunyip]

I haven't had computer access since my last post and have only had a short read of some of the posts since however Frank I back up your claims that this most definitely feels very much as though we've been raped and anyone who takes offence at this remark certainly has no idea how we feel or they wouldn't feel so defensive.

I have never been physically raped but I have worked with someone who has and helped her work through it, and I can tell you something for nothing my emotions over this storm case are very much on a par with the way she is feeling even to this day let me tell you.

Any claims by a rape victim that this situation has no similarity is very very much mistaken. You have no idea and never will know just how destruction this experience has been. I take offense most strongly that we, the victims are to blame and need to take responsibility and I know that my reasoning is sound on this issue and don't need to repeat myself.

If this is how a person seeking financial advice is treated, if this is how financial planners are 'allowed' to operate and get away with it, if this is how the Australian banking system is allowed to mistreat their clients then all I can say is the whole industry needs dismantleing, it's disgusting.

Irrespective of what 'percentage' of blame one can level at the banking industry, the fact remains that they have a case to answer. The criminal put up the idea and his partner gave him the means to allow the crime to occur, I believe it's sometimes called 'aiding and abeting'

To all storm clients out there don't believe that you are in the wrong for seeking and accepting financial advice from these experts, you have been well and truly raped by the financial advisor and his financial backers and anyone who thinks otherwise is an outsider in this fight that we have on our hands for justice. They are the ones who have no idea and their continued onslaught of storms victims is the most disgusting thing that I've ever had the misfortune to read in my life.

Come on HQ – you know very well we haven’t said you’re to blame 100%. We’ve said that a number of parties bear some responsibility for the mess that Stormers now find themselves in, and that each of them should be accountable for their actions. That includes you, the ex-clients.
We’re all responsible for the choices we make in life – no matter whether we’re kids at school, housewives, career women/men, drunks, criminals, farmers, sportsmen, politicians, investors or whatever.

You could have got yourself some free education in basic investment knowledge and skills over the years, but you didn’t – that’s why you went to Storm, because you thought they’d have the investment knowledge that you could have achieved yourself, but chose not to.
You could now be well on your way towards being reasonably investment-savvy if you’d accepted Julia’s generous offer to be your mentor, but you chose to turn down her offer.

It was your choice not to properly scrutinize Storms strategy before accepting it.
It was your choice to mortgage your home – not someone else’s.
It was your choice to believe Storm when they told you their strategy was safe – not someone else’s.
It was your choice to accept and implement a strategy that you clearly did not understand.
It was your choice to ignore the grim news about the coming global financial meltdown – (it was on every media outlet every day for at least six months beforehand.)
It was your choice to do nothing towards managing your business once the financial crisis hit and the market started heading south. As the owner of your investment business you could have over-ridden Storm who were clearly not doing a competent job of managing your investment. But you chose not to.
It was your choice to ignore that age-old wisdom of ‘Don’t put all your eggs in one basket’, by putting all your money plus lots of borrowed money into the stock market.
It was your choice not to heed that other piece of age-old wisdom - ‘If it sounds too good to be true, then it probably is.
Need I go on?

I advise you to take responsibility for the choices you made. Lots of Storm clients have already done so – you should too if you ever want closure on this. If you follow Frank’s example of expecting everyone but himself to be accountable, then this is going to eat away at you for the rest of your life, and probably affect your health even more than it’s done so far.

As for your claim of 'You have no idea and never will know just how destructive this experience has been'.
Let me correct you on this point. I was in the thick of the flash flooding that hit southern QLD back in January. My own home, property, and family were unaffected due to our foresight in buying a property on high ground.
But I saw people's lives being torn apart by a small creek that had turned into a raging torrent 3km wide. I saw homes and sheds disintegrate in front of my eyes. I saw mangled buildings and household goods floating in the water, knowing that people had died in those buildings.
I saw a family sitting on the roof of their vehicle as it floated down the creek, I saw them fall off into the water, I saw one of them flounder and then disappear - his body has never been found.
I helped to get a family off the roof of their house as it was surrounded by rapidly rising water. I was there when the woman collapsed with chest pains.
I spoke with hundreds of people as I helped out in the flood refuge center set up in our village - one family in particular I remember had lost their home and their trucking business when the whole lot went completely under water. And their daughter was missing -she was later found dead a few kilometers down the creek.
I've followed through on this family - their insurance policy did not cover their losses.

Now, how do you think the plight of you Stormers compares to the plight of the family I've described above?
I'd say their situation is a lot worse and a lot more traumatic than yours....wouldn't you??
And there are dozens of other flood-affected families just like them in my area alone, not to mention all the other areas that were flooded last summer.

In no way do I make light of the devastating circumstances you find yourself in as a result of the Storm debacle. I feel genuinely sorry for you.
But don't tell me I have no idea of the impact this has had on your life. After what I saw in the January floods, I believe I have a very good idea.

 

[SJG1974]

I haven't had computer access since my last post and have only had a short read of some of the posts since however Frank I back up your claims that this most definitely feels very much as though we've been raped and anyone who takes offence at this remark certainly has no idea how we feel or they wouldn't feel so defensive.

I have never been physically raped but I have worked with someone who has and helped her work through it, and I can tell you something for nothing my emotions over this storm case are very much on a par with the way she is feeling even to this day let me tell you.

Any claims by a rape victim that this situation has no similarity is very very much mistaken. You have no idea and never will know just how destruction this experience has been. I take offense most strongly that we, the victims are to blame and need to take responsibility and I know that my reasoning is sound on this issue and don't need to repeat myself.

If this is how a person seeking financial advice is treated, if this is how financial planners are 'allowed' to operate and get away with it, if this is how the Australian banking system is allowed to mistreat their clients then all I can say is the whole industry needs dismantleing, it's disgusting.

Irrespective of what 'percentage' of blame one can level at the banking industry, the fact remains that they have a case to answer. The criminal put up the idea and his partner gave him the means to allow the crime to occur, I believe it's sometimes called 'aiding and abeting'

To all storm clients out there don't believe that you are in the wrong for seeking and accepting financial advice from these experts, you have been well and truly raped by the financial advisor and his financial backers and anyone who thinks otherwise is an outsider in this fight that we have on our hands for justice. They are the ones who have no idea and their continued onslaught of storms victims is the most disgusting thing that I've ever had the misfortune to read in my life.

Come off it HQ. You must be reading a different forum to me. The continued onslaught of Storm victims? Please.

Unless you had a gun held to your head, it was your choice to go with Storm, noone elses. Not the Bank's, not the FPAs, not ASIC's, not Storms. I don't think anyone has denied the role these parties played in the whole disaster, and the courts will ensure that their guilt or otherwise is put on public record.

And it was your choice to follow their strategy. It was your choice not to understand the risks involved in what you were doing. It was your choice to hand your life over to them. It was your choice not to research the strtegy independently. Noone made that choice for you.

You made those choices, so take some responsibility for them for goodness sake.

 

[gardie]

I cannot believe the attacks made here on people that have been decimated by Storm and the banks.

I have had an experience involving helping to try and pick up the pieces for people who were decimated by taking the advice of their financial planner. The end result on the back of the bad advice was financial decimation.

These people placed the same level of trust in their advisor as they did their doctor, accountant, lawyer etc only to be destroyed.

For many of these people they will never recover from what has occurred. Many people do not have the level of sophistication financially and hence sought the advice of someone they believed was qualified to manage their nest egg.

The arrogance of some people here to say oh you should have researched this. If you go to your accountant do you take his tax advice and then go and do your own research. A certain percentage with financial skills could but for most they take the advice of a trusted advisor.

Walk in someone shoes for a while before you start throwing mud.