Hi flinders, Just goes to reconfirm what many have felt for a long time and that is; going thru a financial broker etc doesn't mean that they'll do any better than Mr Average, and more so that they will protect your capital...they are not banks. They invest with the same risk as we retailers (especially if they are small). Hence the dramatic move over the past years from Super Funds into SMSFs.
However, and I know this is no consolation but during the same period most retail gamblers have performed badly at the ASX casino (good luck to those making profits)....I was HEAVILY involved with LYC and SDL (absolute certainties).... ..ummm, say no more. There are no guarantees.
I can understand your anger, but your adviser 'invested' in what he/she thought was 'acceptable risk'.... just as I did....unless you can prove negligence, all your going to do is lose more money to the other 'official' community parasite....the legal fraternity.
If you ever truly determine what you are going to nail him on??...let me know so I can sue myself.
