1 Comment

  1. Stephen
    December 29, 2018 @ 8:42 am

    You look at the numbers above and recall Micawber’s philosophy (David Copperfield, published Nov 1850) for happiness:-

    “Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”

    It’s not rocket science.

    The only reason this was allowed to continue was because those promoting this investment were never at risk of losing money – they were paid in commission in the first place and then take annual administration fees. Though why the admin costs went dramatically down in 2014 even though turnover went up, is a mystery.

    Surely someone had a duty of care to the “investors”? We are up to our neck in regulations and the regulators hound the “honest” firms, charge them a fee for the regulation but do nothing about the rogues. That’s like the Police hounding innocent people but letting criminals do as they please ….

    Can anyone justify this situation?

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