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 Fund Investment Corner v3, Funds101

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jwgs0010
post Mar 11 2023, 11:41 AM

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Hi newbie here, not sure where to post, seeking opinions.

Agent switch out my funds to below funds without my knowledge with forged records:

Eastspring Investments Dana Al-ilham
AmGlobal Agribusiness Fund
European Equity Alpha
RHB Gold And General Fund
Manulife Shariah India Equity Fund - A (RM) Class

No clear profit/loss yet, some transactions still under clearing process. My question:

(1) What can I do?
(2) In the event that damage is already done, are these 5 funds considered 'ok' ?

I am still fairly unclear whether there are more untold misconduct done by this agent such as cash out my funds to his personal account etc, is it possible? Gonna call the platform next week for help.
jwgs0010
post Mar 11 2023, 12:17 PM

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QUOTE(MUM @ Mar 11 2023, 11:57 AM)
Which platform is that?
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eunit trust by Phillip Mutual, I registered everything myself here, but apparently there is another platform which is linked to this for agent side or something called FAME, the agent created a login there without my knowledge which is linked to my PM account and did the transactions there ranting.gif

This post has been edited by jwgs0010: Mar 11 2023, 12:22 PM
jwgs0010
post Mar 11 2023, 12:37 PM

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QUOTE(MUM @ Mar 11 2023, 12:24 PM)
If you did not gives prior consent in any signed form, ....then can complaint.
But if you did signed any form or forms with "small" prints that authorised the "agent/company" to manage it for you, (something like managed account) then, .... nothing wrong.

Did they charge you for each moving/switching of funds?
Some "agent" made additional commission from these sales charges or switching charges. They charge by EACH fund, each time.
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Did not sign anything, did not authorize the agent to do anything, the agent admit wrongdoings is for commission.

Unsure about the charges as I am still figuring out, the agent said no charges.
jwgs0010
post Mar 11 2023, 02:31 PM

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QUOTE(MUM @ Mar 11 2023, 12:53 PM)
If no charge, then where got commission?

If the platform that allows agent to moves client's funds around without client's consent, ....then better move all out, and go ele where.
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Which one recommended? FSmone? Only on Phillip due to the frequent 0% promo thing but depending on the outcome of this, considering.
jwgs0010
post Mar 11 2023, 06:48 PM

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QUOTE(MUM @ Mar 11 2023, 02:43 PM)
If you are comfortable with the current one...thenvstick to it.
What can they do or willing to do ensure that the agent can never access your account again?
Will a new agent for that again?

FSM managed account portfolio = they hv and can make changes to your holding very frequenty...no charges applied for exchanging funds....just the usual portfolio mgmt charges.
They hv no access to make changes to your none managed portfolio account.
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I manage to get account reset just before end of operation hour, the manager of this agent said will assign another new agent to assist me next week. I have can file report bla2 and they will take official action once report received or I can settle with the agent privately?! Welp, I am not sure if this is appropriately handled, but there must be some serious SOP issues which provide the loophole. Manager sounds a bit dodgy, I think he is suggesting to settle down quietly, probably not gonna explain to me in details of the loophole. What would you do up to this point?

Whats the difference : FSM managed account portfolio vs Stashaway ?

QUOTE(Ramjade @ Mar 11 2023, 02:44 PM)
If you are buying prs any platform.

If you are buying unit trust FSM.got Bette rinterface. I know poems just change their interface recently. Have to call in to tell them you don't want agent. For me my poems no agent also.

If you want access to better fund, poems sg.
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poems = Phillip Capital Sdn Bhd (A member of PhillipCapital Group of companies)

phillip mutual eunittrust = Phillip Mutual Berhad (A member of PhillipCapital Group of companies)

are they different, backend? rclxub.gif

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Sidenote: Is there a different thread or other forums where I can ask for more opinions? Thanks!

This post has been edited by jwgs0010: Mar 11 2023, 06:48 PM
jwgs0010
post Mar 11 2023, 11:07 PM

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QUOTE(Ramjade @ Mar 11 2023, 10:51 PM)
Avoid both FSM managed portfolio and stashaway. Returns not that good. Better to just buy sp500 etf
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SPY, VOO? Heard of it, just buy and keep 10 years = peace of mind biggrin.gif but am not too sure of the available/best channels in Malaysia to get them, taxing, other details etc...any recommended readups (updated) ? Highly appreciate summaries as I am seriously rclxub.gif
I have too many tabs opened on my browser while researching my case + looking into multiple threads for info doh.gif

This post has been edited by jwgs0010: Mar 11 2023, 11:18 PM

 

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