Babe, I wish I know the answer...but unfortunately, I don't.
I don't have any Kiwisaver investments to worry about - but I loath deception, I hate the despicable doings of Bernard Madoff and other swindlers like Nick Leeson, and I am very very worried about the possibility that Gareth Morgan might screw up innocent investors' hard earned money.
- and I just felt obligated to share my personal concerns with you
I'm not saying that he is a swindler. Heck, what do I know about his future plans? Maybe he really is a good guy. But,... what what what if he isn't? What if he turns out to be another Bernard Madoff?
My retirement funds (known as the EPF, or Employees Provident Fund) is managed by a government entity - not by a private banking institution or a one-man investment company like Gareth Morgan Investments
This is Gareth Morgan's photo:-
(Source:
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Here are some of the things about which struck me as rather odd:-
1) Gareth Morgan Investment's website seems to bear a resemblance to some scam companies
- cheap web design... yet the company purportedly has a sophisticated online login for the KiwiSaver investors
(this is just my personal opinion based on observation and simple common sense. You can choose to disregard my thoughts)
2) "Fan Mail from Life Insurers"
*roll eyes* Yes, GMI indeed has a "Fan Mail from Life Insurers" page
(Duh, gimme a break! I have a life insurance policy, PA (Personal Accident) insurance, travel insurance, automobile insurance, but the thought of being a FAN of insurance providers has never crossed my mind - not even once)
3) Sam Morgan's appointed as the Director of Gareth Morgan Investments
- & it didn't even make it to the news!
Who is Sam Morgan?
My guess is that he's either a brother or cousin or nephew, son or son-in-law of Gareth Morgan
So, in other words... Gareth Morgan Investments is what Malaysians would describe as a "Chinaman company"
("Chinaman company" is an informal term to describe family-owned businesses that the Chinese are famous for - for example... a company where the father is the CEO, & the aunts/uncles/siblings/kids hold key positions in the company)
(to be continued)