Westpac Bank Financial Planner scams

I was conned by a Westpac financial planner in Botany NSW branch years ago.

I wanted to buy $20k shares in Westpac, back then it was cheap.

The financial planner from Westpac in Botany NSW conned me into signing up to one of his Westpac funds instead.

In 6 months Westpac stock had tripled… I would of made a small fortune had I not listened to a Westpac salesman telling me the fund was just like buying shares… I was young and naive back then.

In 6 months I made 2% interest with my Westpac fund, while Westpac used my 20k to make millions overnight in the stock markets.

Do not let anyone pressure you into making decisions about money or investments, most of them will only benefit the Bank or financial institute.

Most Financial Planners especially from a bank, offer lots of dreams and spin about their services, but in the end give you very little.

Most Superannuation Funds do the same, including taking over 1/3 of your money in fees and government charges.

My advice is stay away from contributing to any Superannuation fund… it was created to make money for the Government and Financial institutes.

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2 Responses to “Westpac Bank Financial Planner scams”

  1. Robert says:

    “My advice is stay away from contributing to any Superannuation fund… it was created to make money for the Government and Financial institutes.”

    utter rubbish




  2. Moses says:

    Robert, thats great news for those getting out a business loan, but has nothing to do with the subject.

    Banks make trillions of dollars using your money in the stock markets, while they give you back crumbs.

    Financial Planners con people with their sales talk to make their monthly targets to earn incentives and bonuses.

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