Tax Exempt Savings Plans [TESPs]

patientperson

innovate wrote: »

Yeah, planteria has been having conversations with planteria, and very occasionally with patientperson (same poster?), for ages

I thought we had already been down this story route before. I as patientperson am most certainly not planteria either by name or indeed person. Hope that this is now clarified once and for all.

jimjames

masonic wrote: »

I've been wondering why I keep seeing discussion about friendly societies, which I always thought the conventional wisdom was not to touch with a bargepole. Now I understand why... 5 consecutive replies to keep this thread at the top of the board is :spam: in anyone's books.

It doesn't matter how much PP and Planteria talk to each other the fact remains the Friendly Society plans and ISAs are exceptionally poor value for money and we've still not seen any justification for anyone who they might be suitable for.

Low value investors can use ISAs first, high value investors can use their ISAs and then unwrapped investments. TESPs don't seem to fit into any investment strategy other than for trying to get conversion payouts.

planteria

it is fairly obvious to anyone who cares to read our posts, pp.. but the suggesting that we are the same person fits the agenda, along with other lies

jimjames

planteria wrote: »

jimjames, TESPs are just small investments in funds that hold equities, bonds and property, which are Tax Exempt. along with Regular Savings Plans (some of which are similar to TESPs, but not Tax Exempt)

I know exactly what they are. Being tax exempt is irrelevant, the investment level they are aimed at would pay absolutely no tax anyway. It is important to point out what bad value they are in case anyone falls for the marketing that thinks they may be a good idea.

planteria wrote: »

noone needs to provide any justification.

No-one needs to provide justification. However no-one seems able to provide any justification why one of these savings plans would be suitable and the circumstances where that would be the case.

As an introducer surely that would be something you would be able to point out? If you aren't able to provide any positive justification then who would?

planteria

people just look at the information jimjames, and decide whether a product is suitable for them.
if you're aware of the features/funds/terms/returns and a TESP is not for you, good luck with your other investments:)

masonic

Trouble is, you are presenting an unbalanced view of these products, which in and of itself is promotional. Couple that with the fact that you have been paid by one or more provider of these products as an "introducer" and you end up in a situation where you are implicitly advertising these products on behalf of said businesses. One can only speculate about what exchanges may be taking place outside of the thread, which is one reason why this type of financial promotion is prohibited.

What is most exasperating about this whole situation is that you could so easily have chosen a product to get involved with that isn't so rubbish and unsuitable for the vast majority of people.

planteria

do you honestly not think that the thread is balanced against TESPs?

..you can go back to the start of this thread and see that i didn't mention being an Introducer, and when it was mentioned by others i asked for reference to it to be removed. i have been contacted by MSE and warned about things that aren't true.. because some folk here know they can lie and vilify and that it will be accepted. to be honest, i've never come across the 'keyboard warrior' concept before, despite being online a lot, and contributing to personal finance forums, for years.

i don't think there is anything outside of this thread that you would be concerned about. a little bit of discussion re. some of the things alleged, and a little bit of discussion based around people who invest in mutuals but are put off from posting much publicly by the anti-agenda.

masonic wrote: »

What is most exasperating about this whole situation is that you could so easily have chosen a product to get involved with that isn't so rubbish and unsuitable for the vast majority of people.

i am interested in this. what do you have in mind?

despite the lies, bitterness and agendas, im just a chap that runs a couple of businesses and has an interest in personal finance: Credit Card Stoozing, Credit Card Cashback, Investing in Funds and Shares, including via ISAs and SIPPs, Savings (as far as rates will allow), and Mutuals. i don't do or say anything that deserves such nastiness and sniping behind the scenes, but would be happy to meet up with anyone who disagrees:D

jem16

planteria wrote: »

you can go back to the start of this thread and see that i didn't mention being an Introducer, and when it was mentioned by others i asked for reference to it to be removed.

There is no doubt that you didn't mention it first on this thread. However there is also no doubt that you had a thread removed by MSE for offering terms as an Introducer which is against board rules.

i have been contacted by MSE and warned about things that aren't true

MSE know what you have posted and what they have had to remove.

You do yourself no favours by continuing to deny that you are an Introducer, not only here but on at least 2 other forums as well.

planteria

jem16 wrote: »

You do yourself no favours by continuing to deny that you are an Introducer, not only here but on at least 2 other forums as well.

no failure to do myself favours, as i do not deny it:hello: i just didn't bring it up. another contributor felt the need to tell everyone, and then complain that i had told everyone:laugh:

masonic

planteria wrote: »

do you honestly not think that the thread is balanced against TESPs?

I think a number of long-term and well respected posters have felt compelled to inject some opposing views into what would otherwise be a completely one-sided discussion. Of course they are not going to highlight the drawbacks in as positive manner as you would like. The trouble is, the sales patter and marketing gimmicks expressed in this thread so far don't counter the genuine statements that these products are poor value and unsuitable for most people.

..you can go back to the start of this thread and see that i didn't mention being an Introducer, and when it was mentioned by others i asked for reference to it to be removed. i have been contacted by MSE and warned about things that aren't true.. because some folk here know they can lie and vilify and that it will be accepted. to be honest, i've never come across the 'keyboard warrior' concept before, despite being online a lot, and contributing to personal finance forums, for years.

The forum team have been through this thread a number of times and would have removed any such posts if they were made. They have edited my post #283 to remove a quote from one of your posts that was deleted, so we can't verify what may or may not have been posted in the past.

I think you need to accept that there is no personal vendetta against you. Genuine concerns have been raised, motivated entirely by posters desire to keep others safe. This is not somewhere people will sit idly by and allow companies to sell unsuitable products (by proxy) to unsuspecting folk. What I see is frustration levels building in some people as their genuine objections and concerns are continually deflected and buried beneath a continual stream of unconnected sales pitch and chatter, none of which seeks to address the issues raised, or acknowledge them.

You can guarantee that if someone talking up a guaranteed equity bond was found to be posting on behalf of the bank selling it, or someone advocating an investment platform with high charges was discovered to work there, they would be treated in a harsher manner than you have been. The reason for that is there would be a clear ulterior motive in those situations, just as there is in your own.

i don't think there is anything outside of this thread that you would be concerned about. a little bit of discussion re. some of the things alleged, and a little bit of discussion based around people who invest in mutuals but are put off from posting much publicly by the anti-agenda.

That may be the case. Only you know the full extent of what goes on outside this thread. Some further transparency is possible. For example, do you have a post in the referrer's board with details of what it is exactly that you are selling and your affiliations?

i am interested in this. what do you have in mind?

There are plenty of products the give incentives to people bringing in new customers. Again, the referrers board is a good place to look for inspiration. I'm sure there are products that people genuinely want and the incentive is mutual.

despite the lies, bitterness and agendas, im just a chap that runs a couple of businesses and has an interest in personal finance: Credit Card Stoozing, Credit Card Cashback, Investing in Funds and Shares, including via ISAs and SIPPs, Savings (as far as rates will allow), and Mutuals. i don't do or say anything that deserves such nastiness and sniping behind the scenes, but would be happy to meet up with anyone who disagrees:D

Again, I think the nastiness is against what is perceived to be going on in this thread, not you personally. From what I've seen, you're capable of making positive contributions elsewhere.