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RVS Closing price System

edited 30 November -1 at 1:00AM in Savings & Investments
29 replies 6K views
Roo2001Roo2001 Forumite
13 posts
edited 30 November -1 at 1:00AM in Savings & Investments
We have some redundancy money that rather than pay a chunk off of our mortgage we want to try and work for us. My OH is interested in something he has seen called RVS Closing Price System. Does anybody know anything about this, maybe I'm being overly cautious but it sounds like a sophisticated hustle to me.

In brief what he is being told is:( I'd attach copies of the emails received if I could work out how.)
The system is suitable for new and experienced traders. ......you can help secure your financial future and take advantage of our proven money-making strategy with a one off investment of £9,850 Price includes complete ownership of the System with ongoing support program updates and upgrades.

Pay £4,925 to release the RVS Closing Price System.The balance of £4925 is only payable once a net profit of 30k has been achieved. The RVS Closing Price System guarantees net profit of 30k will be achieved within 2 years of operation or the company will waiver any outstanding balance.

My OH was also offered a laptop with the system pre-loaded free of charge as our current home laptop is very old and unreliable. Average return being quoted for users is 12% .

Id love to think this is Kosher and support my OH in trying something new to bring in some extra revenue for the family but my alarm bells are ringing!!
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Replies

  • eskbankereskbanker Forumite
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    Roo2001 wrote: »
    Pay £4,925 to release the RVS Closing Price System.The balance of £4925 is only payable once a net profit of 30k has been achieved. The RVS Closing Price System guarantees net profit of 30k will be achieved within 2 years of operation or the company will waiver any outstanding balance.
    So they pretend it's worth £9,850, and sell it on the basis that you're only paying half of that up front, with the second half only to follow if you haven't hit an arbitrary target two years later. Would you buy it if it was marketed as software for £4,925 with no worthless 'guarantees'?
    Roo2001 wrote: »
    My OH was also offered a laptop with the system pre-loaded free of charge as our current home laptop is very old and unreliable.
    Cheap laptop worth maybe a couple of hundred quid - sounds like a token feelgood gesture....
    Roo2001 wrote: »
    Average return being quoted for users is 12% .
    ....but no doubt completely unverifiable?
    Roo2001 wrote: »
    my alarm bells are ringing!!
    Mine too - I'd steer well clear....
  • Voyager2002Voyager2002 Forumite
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    Roo2001 wrote: »
    Id love to think this is Kosher and support my OH in trying something new to bring in some extra revenue for the family but my alarm bells are ringing!!

    I think that you are very sensible...

    This product sounds like a re-named version of the one discussed in this thread (see link below): the end of the story was that the company closed meaning that the guarantees were worthless, and it is hardly surprising that they have apparently re-opened again under a new name.

    See discussion at
    https://forums.moneysavingexpert.com/showthread.php?t=5829398
  • eskbankereskbanker Forumite
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    I think that you are very sensible...

    This product sounds like a re-named version of the one discussed in this thread (see link below): the end of the story was that the company closed meaning that the guarantees were worthless, and it is hardly surprising that they have apparently re-opened again under a new name.

    See discussion at
    https://forums.moneysavingexpert.com/showthread.php?t=5829398
    Good spot - I knew it rang some bells but that thread got shifted over to the Praise, Vent & Warnings board so I'd forgotten about it, but there's an ongoing stream of posters who've been shafted.

    Anyone wishing to compare this company with HSL Smart Market System could do worse than observing the similarities between RVS at https://price-systems.com/ and a copy of the old HSL site at https://web.archive.org/web/20171014055749/http://smartcentre.net/software/hsl-smart-market-system/ - remarkably similar web page design, right down to the UK v China buttons in the top right, and identical contact pages with just a web form rather than any useful means of direct contact, not to mention the significant lack of any correlation between domains and product or even company names.

    As ever, if something looks too good to be true, chances are it will be....
  • edited 1 May 2018 at 4:46PM
    AlexlandAlexland Forumite
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    edited 1 May 2018 at 4:46PM
    eskbanker is right the guarantee is worthless as it's still at least £5k down the drain with the strong possibility of further shafting attempts. Redundancy can be a confusing time and yes it's worthy doing some extra stuff to bring in household income but don't confuse that with doing the wrong things. Avoid like the plague.
  • AegisAegis Forumite
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    Sounds like the sort of thing you shouldn't touch with a bargepole. Save the redundancy money for a better purpose.
    I am an Independent Financial Adviser
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • greatkingratgreatkingrat Forumite
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    I have a system* which has made 48% in the last three years, average 16% per year, just send me £5k and I'll tell you what it is.

    *Invest in Vanguard Life Strategy 100 on 1st Jan 2015, and sell on 31st Dec 2017
  • AnotherJoeAnotherJoe Forumite
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    If you went for this you would deserve to lose the money (which you will) because its a complete and utter scam and you'd be an absolute fool to fall for it.

    Without even bothering to go into the details of why it's a scam, the simple fact is, if it was that good a deal to provide guaranteed income, why would they not just keep all the profits to themselves ?

    Stop looking at get rich quick schemes, and that also includes things you might seee like tree plantations, storage pods, student rooms, vine rows and a host of other apparently cast iron profit making ventures, and stick with established investments or just paying a chunk off the mortgage if "ordinary" investments seem too risky.
  • CityOwlCityOwl Forumite
    60 posts
    Roo2001 wrote: »
    We have some redundancy money that rather than pay a chunk off of our mortgage we want to try and work for us.
    There is nothing wrong with wanting to make the most of the redundancy money, but some get rich quick scheme is not the way to go. Never invest in anything you do not understand, and if it sounds to good to be true, then it probably is.

    Use this as an opportunity to take stock of your finances and look at your income, living costs, debts and savings. I have learnt so much from the very informative threads on these boards, I was a lurker for years. There are some fantastic people with a wealth of knowledge, who are more than happy to help.
    "Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness.
    Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

    Charles Dickens
  • My advice would be read through the following thread also on these boards before making any investment.
    Some are saying it could be the same individuals in a different incarnation???

    https://forums.moneysavingexpert.com/showthread.php?t=5829398&highlight=smart+market+system&page=6#topofpage
  • MalthusianMalthusian Forumite
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    Your OH is on a sucker's list. Make sure he doesn't invest in anything without running it past you first.
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