Friday, May 27, 2016

TRUST ?

Hi ...its obviously been a long time between posts.

Unfortunately the motivation to write another post is riddled with disappointment at the behavior of others in a position of trust.

I was reading an article in the Sydney Morning Herald Business Day online about an accountant by the name of "Pullen Pillay" and I credit him with the motivation to write this Blog Post.  Its really the only credit he deserves.

What this article goes on to demonstrate is that an accountant, whom people had been going to for years to do there Tax Returns and TRUSTED would end running seminars (marketed to his client base) that recommended high risk products from pine plantation operator Willmott Forests, pearl spruiker Arafura Pearls and timber and horticulture business Rewards Group...whilst earning millions in commissions even whilst these businesses were failing.

When things started to go wrong (as is the likely hood in high risk products) he was no where to be found.  Sounds like the communicative habit of every snake oil salesman i have ever met.


People lost millions and now they seriously in trouble with their retirement income and i would envisage that many would go from planning to be self-funded to being on the pension...an outcome that effects all tax payers.

Dont ever get me started as too how the regulators allow this type of theft to continue...i probably would never stop typing in my disdain for the toothless tigers of governance.

Now before all two of you that read my blog jump up and down and say that with all investment returns comes risk...bear in mind that these people were not stock market traders or analysts of any sort.  They trusted there accountant to help them plan for their retirement.  What Pullen Pillay did was take this trust, use everyone's fear of being able to retire comfortably and flush their life savings down the toilet...all whilst earning millions !!!

I know there are many more stories of financial malpractice and the heartache this creates in peoples lives.

The full article referenced above can be read here.

I hate the idea that someone could go to a supposed expert in their field and have their hard earned savings misappropriated to benefit the adviser wholly and solely.

I suppose the article really affected me greatly because i too have been the victim of snake oil salespeople - twice !!!
And they were supposedly friends...has it stopped me TRUSTING.  NO but i am certainly more weary and my bullshit radar has become finely honed.

This sort of corrupt behaviour comes down to a question of personal ethics or lack thereof...I as someone who has run my business consecutively for 15 years could not imagine consciously trying to do the wrong by our customers.  These are people who with their hard earned disposable income entrust me to supply a quality, reliable product that suits there garden space.  As i like to ask a lot of questions before we recommend a product, 99 times out of a 100, we get it right.  Where we don't supply what was desired, we fix it.  By being communicative and having procedures in place that assist our clients with there return or swap in a timely manner.

When I first started this business, I genuinely believed that overall most gardeners were a lovely bunch...I still do.

Why would anyone try to ripoff or misadvise their clients is beyond me...it saddens my heart.




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