Edward G.

Hello Eddie Green, thank you for posting up a review, once again, we appreciate all feedback irrespective of what colour it paints us in. I would like to make a small correction and to elaborate a little. You are correct that we closed the investment raise you were initially involved in and we did return all funds back to you from the holding account promptly. You fail to mention that the bonus 10% was to be paid to you if you joined the next investment which was scheduled to be 4 months after your funds were returned to you and if you did we would pay the "good will" interest from the very first day you deposited funds right up until the day you reinvested. This meant that we will be paying you 10% interest while you held the money in your own account. (not a bad deal, to be paid to hold your own money) You failed to mention that you did reinvest with us, we then paid you 12% interest up front for the first year on that investment and you are booked in for an addition good will interest of 10% (for funds we never used or made a return on as a company) you are currently an investor in the fund and enjoying the full 12% no fees that we offer. And as stated many times to you in relation to the 10% good will payment, we are only able to pay this once the current fund has reached a certain amount of drawdown. You have however received formal confirmation of intent to pay, it is unfortunate that it has taken longer than expected to be able to reach a drawdown with the current investment, however in the current Global Pandemic environment the raise has been a slower than expected as people are cautious to invest and here at The Retirement and Investment Centre we do not use pushy sales techniques to raise funds, we build slow and solid relationships and we have worked our raise in line with investor sentiment, we firmly believe in the journey with all of our investor friends, not the quick dollar. I am wholeheartedly sorry it has taken a little longer than expected to get your Good Will interest to you, but in our defence i would like to ask, How many other fund managers would pay someone to keep their money in their own accounts? Please feel free to call me anytime to talk through your current investment you have with us, or to walk through any questions you have about the bonus good will 10% interest.
Shaun Fox Managing Director RAIC

To address these issues:

1. When speaking with clients who have complaints, we always ask them to review for us the history of their case and any progress that has been made in order to understand their perspective. We are sorry that the question caused you agitation.

2. We also regret that this case has taken so long to resolve. It is our mutual interest not only to successfully recover a client's funds but also to proceed as vigorously as possible. At no point did we neglect this case. Unfortunately, however, the fund recovery process can be prolonged due to the pace of communication with and between the banks. In this instance, the issuing bank, unjustifiably, in our opinion, declined our first attempt to raise a dispute. While we cannot promise 100% success, we do promise 100% effort, and, therefore, we then escalated the case by appealing to the regulator. Since the regulator is a government agency that handles a huge volume of cases, it usually requires several months to review and rule on an appeal.