letter to your local member, page-5

Hi, yes received the same letter but was surprised by the lack of details in the letter, no real valuations , no plan, nothing really enticing to believe that there is any benefit to the plantation investors.

Does anyone have any idea of what our lots would be worth if they are harvested? When GTP was in business I called Perth on at least 8 occasions trying to find out what happened with the 1998 lot harvest, how much investors received on their investment, anything. On each occasion I did not receive an answer, but was flicked from one person to another, then to the company spokesperson, without any figures, not even a commitment to publish figures at a time in the future. Does anyone know the return on the first harvested lot?

At that time I lodged complaints with ASIC highlighting the withholding of basic financial information and asking them to assist in providing the return on the 1998 lot harvest. I received no real response from ASIC other than "thanks for your letter....."

This is not advice, but from now on I do my own thinking. Personally I much worse off from seeking Professional Financial Advice, and, if I had followed the plan written out by my financial planner, I would now be penniless.

There will be lots of responses saying that I am over reacting, but consider this; the large number of people put into plans such as this by their trusted financial expert, WestPoint, Timber Corp etc who lost a huge percentage of their total saving, seemingly without any legal avenue to claim against their planner who put them in this in the first place. [Not to mention the difficult process that we/ they face to recieve any return from liquidators]

I would love to see a study of wealth destroyed by the financial planning industry over the last 10 years.